onchain fees

Bitcoin Miners’ Average Revenue Per Block Dips 25% in 3 Days, Falling to 3.83 BTC

April 26, 2024 Bitcoin.com

Bitcoin Fees

In the last 24 hours, bitcoin miners have faced significantly reduced earnings, with the current hashprice lingering at a significant low. Just five days ago, miners were harvesting an average of 5.105 BTC per block, between a blend of new BTC and transaction fees, following a peak in the hashprice. However, the average yield per […]

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Dogwifhat surpasses $41 after Bybit listing

Post-Halving Fallout: Bitcoin Hashprice Slides 30%, Miners’ Earnings Hit

April 23, 2024 Bitcoin.com

Bitcoin Fees

Following a peak in onchain fees, bitcoin miners experienced a significant decline in the hashprice, which fell from a daily rate of $114 per petahash on Sunday to a markedly lower $79 per petahash by Tuesday. To date, the network’s hashrate has experienced a modest decline, though nothing too substantial yet, following the completion of […]

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Dogwifhat surpasses $41 after Bybit listing

Bitcoin Miner Rewards Shrink Below Pre-Halving Levels as Network Fees Fall Sharply

April 21, 2024 Bitcoin.com

Bitcoin Fees

After experiencing a period of high fees, onchain transfer costs on the Bitcoin network have decreased significantly. On Friday, the fees peaked at $240 per transaction, but by now they have fallen to just $11.06 each. Since reaching block height 840,179, miners are now earning less bitcoin in rewards compared to before the halving event […]

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Dogwifhat surpasses $41 after Bybit listing

93 Blocks, $71 Million in Fees: Bitcoin Mining Revenue Booms Post-Halving

April 20, 2024 Bitcoin.com

Bitcoin Fees

Since the halving, miners have successfully extracted 93 blocks, accumulating a significant 1,087.99 bitcoins valued at approximately $71.04 million solely from transaction fees. As of 2:00 p.m. EDT on Saturday, the current metrics indicate a high-priority transaction cost of 492 satoshis per virtual byte (sat/vB), equivalent to $44.83 per transfer. Bitcoin Mining Landscape Transforms With […]

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Dogwifhat surpasses $41 after Bybit listing

Bitcoin Halving, Runes Proliferation Results in Historic Fee Increases, Crypto Community Reacts

April 20, 2024 Bitcoin.com

Bitcoin Fees

Following the Bitcoin halving event, onchain fees climbed to over $240 per transaction just an hour later, and as of now, a high-priority transfer costs between $52 and $78 per transaction at 10:30 a.m. Eastern Time on Saturday. The increasing fees have prompted a flood of comments from individuals in the crypto space, as this […]

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Dogwifhat surpasses $41 after Bybit listing

Bitcoin Makes Progress in Clearing Backlog, but Lightning Network Capacity and Channels Dropped Amid Congestion

May 14, 2023 Bitcoin.com

Bitcoin

In the past week, the Bitcoin network has made progress in resolving its congestion issues. On May 7, 2023, the number of unconfirmed transactions reached an all-time high of over 500,000 transfers, causing a major backlog. However, as of today, that number has been reduced to 263,406. Currently, 184 blocks need to be cleared to […]

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Dogwifhat surpasses $41 after Bybit listing

Bitcoin Network Starts to Clear Congestion, Onchain Fees Drop by 90%

May 11, 2023 Bitcoin.com

Bitcoin

On May 7, 2023, the Bitcoin network was plagued with an overwhelming 500,000 unconfirmed transactions, causing a major bottleneck in the system. However, the good news is that the congestion has been clearing, resulting in a significant reduction in onchain fees, which have now dropped below $5. As of now, there are only slightly over […]

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Dogwifhat surpasses $41 after Bybit listing

Bitcoin’s Average and Median-Sized Network Fees Rose 40% Higher in March

March 31, 2023 Bitcoin.com

150 bitcoin

In March 2023, Bitcoin’s average and median-sized fees jumped more than 40% higher after rising 122% in 10 days during the first week of February. The fees have followed the Ordinal inscription trend as more than 662,000 inscriptions reside on the Bitcoin blockchain, and 150 bitcoin worth $4.2 million have been added to fees. Bitcoin […]

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Dogwifhat surpasses $41 after Bybit listing

Arbitrum’s Daily Transaction Count Surpasses Ethereum for the First Time Ever

February 23, 2023 Bitcoin.com

Arbitrum

According to statistics recorded this week on Tuesday and Wednesday, the layer two scaling project Arbitrum’s transaction count has surpassed Ethereum’s. On Wednesday, Arbitrum processed 1,090,510 transactions, compared to Ethereum’s 1,080,839 transfer count. L2 Scaling Solution Arbitrum’s Daily Transfers Skyrocket Layer two (L2) scaling networks have become popular over the last two years as secondary […]

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Dogwifhat surpasses $41 after Bybit listing

Combined Transactions on Arbitrum and Optimism L2 Chains Outpace Ethereum’s Daily Transfer Count 

January 15, 2023 Bitcoin.com

Arbitrum

Since The Merge, Ethereum’s onchain fees have been considerably lower. However, combined transaction volume on layer two (L2) chains Arbitrum and Optimism has outpaced Ethereum’s onchain transaction output. On Saturday, Jan. 14, 2023, Ethereum processed 1.10 million onchain transactions, while combined transactions on Arbitrum and Optimism reached 1.32 million for the same day. Rise of […]

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Dogwifhat surpasses $41 after Bybit listing