- Bitcoin crypto transaction fee reduced to $0,788
- This could be a marker ecosystem recovery from summer shocks
For the first time in over two years, the transaction fee within the Bitcoin ecosystem has fallen below $1. This contributes to the influx of new users, the scaling of the blockchain and its stabilization.
As of of August, the commission for transferring bitcoins was $0,768. The previous low, $0,768, was briefly reached on July 2.
Except for this, the current commission reduction is the largest and longest in two years. So, for example, in December 1024 this figure reached $4 .8-4.9, and in March it was equal to $4, 471.
Commission reduction is a huge benefit for privates users. Cheaper transactions attract more participants to the ecosystem and contribute to its scaling.
The current fee reduction is due to the gradual recovery of the blockchain after the crypto-winter. Recall that at the end of July, FTX CEO Sam Benkman-Fried said that he already sees the first signs of an improvement in the situation. a big marker that speaks in favor of Fried’s prediction. With blockchain complexity continuing to grow and miners gradually moving to more modern hardware, it’s safe to say that the ecosystem is coming back to some semblance of normality.
Why is the commission of crypto-transactions growing?
This is influenced by a number of factors. So, for example, gas fees in the Ethereum ecosystem have grown strongly against the backdrop of the popularity of tokens. Also, the commission may increase due to a sharp jump in demand for the asset, and, consequently, its rise in price, or an increase in the complexity of its extraction.