Commissions in the Bitcoin network increased 10 times in a month

The growth of the first cryptocurrency and the increase in the number of transactions have led to a significant increase in the average transaction fee.

Nowadays, users pay an average of $ 18.63 for each transaction, but in early November, the average fee was about $ 1.6 for each transaction.

However, the figure began to grow rapidly, and on November 17, the commission reached $ 18.63, which is 746% higher than the average last year. Yesterday, miners received more than $ 11.6 million from transaction processing fees alone.

The growth of commissions is also influenced by the rate of the first cryptocurrency: the price of BTC is currently at its highest level in the last year and a half. The interest in bitcoin is fueled by rumors about the possibility of a quick approval of spot ETFs on BTC in the United States. However, analysts believe that macroeconomic factors also contribute to the growth of bitcoin.

For example, Anthony Scaramucci believes that a change in the US Federal Reserve’s (Fed) policy will lead to an increase in investments in cryptocurrencies and other risky assets. And Catherine Wood expects the crypto market capitalization to grow to $ 25 trillion by 2030.