Bitcoin Transaction Fees Continue to Spike After Halving

18 May 2020, 14:15 GMT+0000
Updated by Kyle Baird
18 May 2020, 14:15 GMT+0000
In Brief
  • Bitcoin's transaction fees continue to climb after its halving.
  • Transactions are now around $4 per transaction on average.
  • Fees are at the highest level since summer 2019.
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The average transaction fee using Bitcoin is now around $4 and has continued to climb since the last days of April.
For comparison, on April 28, the average transaction fee was only $0.664.
Chart courtesy of BitInforCharts
Despite an increase in SegWit adoption and transaction batching by exchanges, Bitcoin’s average transaction fees continue to rise. Daily transactions have remained stagnant, however, so this spike may be due to a shakeup among miners. Fees are now at the highest level since the bullish run of summer 2019 which saw Bitcoin briefly break past $13,000. It should be noted that Bitcoin is still cheaper than the average international bank transfer. The fees for such transactions can often be as high as $50.

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