BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
FOLLOW
BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
BlockNews.com
No Result
View All Result

Bitcoin’s Transaction Fees Outshine Ethereum in $11.6 Million Surge

BlockNews.com Team by BlockNews.com Team
November 17, 2023
in Breaking News, Crypto, Featured
Bitcoin’s Transaction Fees Outshine Ethereum in $11.6 Million Surge

#image_title

Share on TwitterShare on Reddit
  • Bitcoin’s daily transaction fees surpassed Ethereum’s for the first time since late 2020, reaching $11.6 million versus Ethereum’s $8.4 million.
  • This marks a shift in the daily fee dynamics between the two largest cryptocurrencies.
  • However, Ethereum still leads in weekly average fees at $9 million versus Bitcoin’s $5.5 million, as Ethereum processes more transactions overall.

Bitcoin‘s daily transaction fees have exceeded Ethereum’s for the first time since late 2020. This marks a shift in the fee dynamics between the two largest cryptocurrencies.

Bitcoin’s Fee Surge

Bitcoin’s transaction fees reached $11.6 million in a single day according to Cryptofees. This is the first time Bitcoin’s fees have surpassed Ethereum’s daily fees since 2020.

In comparison, Ethereum’s daily transaction fees were $8.4 million, slightly lower than Bitcoin’s. However, when looking at a 7-day average, Ethereum still leads with $9 million in average fees versus Bitcoin’s $5.5 million.

Ethereum’s Ongoing Dominance

While Bitcoin’s daily fees have overtaken Ethereum’s, Ethereum still maintains the upper hand for weekly average fees.

🚨 NEWS: #Bitcoin transaction fees soar to $11.6 million in a day

Surpassing Ethereum's daily fees of $8.5 million.

This marks $BTC's highest fee surge since late 2020. pic.twitter.com/CRYDtOjHLZ

— BlockNews.com (@blocknewsdotcom) November 17, 2023

Ethereum has been processing more transactions than Bitcoin, contributing to its higher 7-day fee average. This new trend of Bitcoin surpassing Ethereum’s daily fees warrants ongoing observation regarding potential long-term implications.

Conclusion

Bitcoin exceeding Ethereum’s transaction fees marks a slight shift in daily fee dynamics between the two largest cryptocurrencies. However, Ethereum still processes more transactions overall, maintaining its lead in weekly average fees. Continued monitoring of this emerging trend will reveal if it leads to any lasting changes in the fee structures.

Tags: BitcoinBlockchaincryptoethereumWeb3
TweetShareShare
BlockNews.com Team

BlockNews.com Team

The go-to news source for Cryptocurrency, Blockchain, Technology, & Finance

DON'T MISS THESE! HOT OFF THE PRESS

Everything We Know About the Leaked GTA6 Trailer
Breaking News

Everything We Know About the Leaked GTA6 Trailer

December 5, 2023
Terraform Labs Fights Back: Cites SEC's DEBT Box Misconduct in Court
Breaking News

Terraform Labs Fights Back: Cites SEC’s DEBT Box Misconduct in Court

December 5, 2023
Envision Blockchain and Hedera Revolutionize Carbon Credit Management
Breaking News

Envision Blockchain and Hedera Revolutionize Carbon Credit Management

December 5, 2023
Bitcoin Skyrockets to $42,000: Here are the Key Factors
Breaking News

Bitcoin Skyrockets to $42,000: Here are the Key Factors

December 5, 2023
Bitcoin Transaction Fees Eclipse Ethereum Amid Ordinal Surge
Breaking News

Bitcoin Could Reach $700,000 Next Year and Here is Why

December 4, 2023
Crypto Market Rebounds After Binance Settles with DOJ
Breaking News

Bitcoin Pumped 67% Over the Last 3 Months and Here is Why

December 4, 2023
Load More
Next Post
Ripple Exec Challenges SEC’s Gensler on 'Shady' Crypto Policies

Ripple Exec Challenges SEC’s Gensler on 'Shady' Crypto Policies

Bitcoin Records its Lowest Liquid Supply in Over 10 Years

Bitcoin Records its Lowest Liquid Supply in Over 10 Years

Solana’s DeFi Aggregator Jupiter Announces 4 Billion Token Airdrop

Solana’s DeFi Aggregator Jupiter Announces 4 Billion Token Airdrop

Related News

Avalon’s Revolutionary Metaverse Game Blends AI with Blockchain Tech

Avalon’s Revolutionary Metaverse Game Blends AI with Blockchain Tech

November 14, 2023
Global Metaverse Market Forecasted to Skyrocket from $83.9 Billion in 2023 to $1.30 Trillion by 2030.

Global Metaverse Market Forecasted to Skyrocket from $83.9 Billion in 2023 to $1.30 Trillion by 2030.

October 30, 2023
India IMF

IMF and FSB Release Joint Report on Global Strategies for Managing Crypto Risks

September 28, 2023

Browse by Category

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Featured
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized
Discord Twitter
BlockNews.com

BlockNews.com brings you the most important Crypto and NFT news in the space.

CATEGORIES

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Featured
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized

RECENT POSTS

  • Everything We Know About the Leaked GTA6 Trailer December 5, 2023
  • Terraform Labs Fights Back: Cites SEC’s DEBT Box Misconduct in Court December 5, 2023
  • Envision Blockchain and Hedera Revolutionize Carbon Credit Management December 5, 2023

© 2022-2023 BlockNews.com - Crypto and NFT news website by JRNY Club.

No Result
View All Result
  • Home
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides

© 2022-2023 BlockNews.com - Crypto and NFT news website by JRNY Club.