June 15, 2021

Bitcoin and Ethereum network fees fell 70% -80%

Bitcoin and Ethereum network fees fell 70% -80%

Transaction prices plummet as Bitcoin and Ethereum rebound from recent highs.

Behind recently, the prices of transfers on the Bitcoin and Ethereum networks have fallen by 81% and 71%, respectively.

According to BitInfoCharts, as early as last Wednesdaythe average transaction fee on the Ethereum network was $ 69. That amount dropped to $ 20 on Sunday. At the same time, the ETH spot price reached a record high of $ 4,358 and fell to $ 3,200.

Bitcoin and Ethereum network fees fell 70% -80%

Before the price spike in ETH in 2021, the current $ 20 fee would seem overwhelming. Back in 2020 (before the surge in popularity of DeFi), the average translation price was around 10 cents.

A similar trend is observed with Bitcoin. At its peak of $ 65,000, the average commission price was around $ 63. The fall in price has led to a reduction in translation costs by 81% - now it is about $ 11.

Bitcoin and Ethereum network fees fell 70% -80%

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According to the materials cointelegraph.com