Data: The Bitcoin network settled an average of 95,000 US dollars in transaction fees for every US dollar in the past week

Data: The Bitcoin network settled an average of 95,000 US dollars in transaction fees for every US dollar in the past week

2021/12/1

According to reports, in the past week, the Bitcoin network has transferred or settled a value of US$95,142 for every US$1 in transaction fees charged. According to the analysis by on-chain analyst Dylan LeClair by dividing the average transaction volume by the fee, the final settlement cost only accounts for 0.00105% of the total transfer value of US$451.3 billion. According to CryptoFees, Bitcoin ranks seventh in the list of networks sorted by daily transaction fees. Its 7-day average is about $678,000, lagging behind Ethereum, Uniswap, BinanceSmartChain, SushiSwap, Aave, and Compound. According to the report, Ethereum currently processes $53 million in fees per day, 98.7% more than the Bitcoin network. The average transaction volume of Ethereum divided by the fee results in a transaction value of only $139 per dollar fee. The current average transaction fee on the Bitcoin network is approximately $2.13. In contrast, the average cost of the Ethereum network is as high as $42.58.

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