![]() ![]() What Is The Current Status Of Bitcoin Fees?Īt present, there are more than 5000 transactions pending in the mempool the size of which is increasing every day (at present 113.5 MB) and Bitcoin’s blockchain is validating more than 300,000 transactions per day, the highest in Bitcoin’s history.Ĭurrently, resulting from the massive traffic on the Bitcoin’s blockchain, transaction fees have skyrocketed.Īt the time of writing this article, according to, the fastest and cheapest fee was 25 satoshis/byte. ![]() So because of free-market users deciding the fees of the transaction, as well as the limited 1 MB space, finding a place in the blocks has become expensive.įree market users who can’t wait for longer durations for their transactions to be confirmed naturally attach more fee per bytes to their transactions, thereby pushing the free market average fees higher. ![]() Technically, finding more blocks is energy and cost-intensive process which takes time, and thus makes sense in including transactions that pay them more first.
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