Data shows that currently nearly 15% of Bitcoin miners’ income comes from transaction fees

On May 20, Glassnode data showed that nearly 15% of bitcoin miners’ income currently comes from transaction fees, reaching the highest level since the beginning of 2018. At the time, the cryptocurrency industry was in a boom driven by retail investors.


According to bitinfocharts, as of May 18, the average bitcoin transaction fee soared to US $ 5.828, continuing to reach a new high for the year, rising by more than 1930% from the low point of the year and 1127% from the previous month.

In response to the increase in bitcoin transaction fees, analysis stated, “Recently, Bitcoin has halved the rewards for completing blockchains and miners’ rewards have been reduced by 50%, which greatly reduces the speed of block production and leads to serious network congestion. This means that users must pay more. It takes a lot of fees to complete the transaction. It is expected that the difficulty of mining next time will drop by more than 5.6%, which may bring breathing opportunities for miners. “

As of press time, BTC quoted USD 9,744, up 1.07% in 24 hours.

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