Bitcoin transaction fees climb to January 2018 levels

Bitcoin transaction fees in the Bitcoin network continue to rise. On Saturday, October 31, the average fee stood at $13.14.

The last time such a figure was seen was in the second half of January 2018, a month after Bitcoin hit its all-time high of $20,000.

Source: Glassnode.

The share of fees in miners’ revenue is rising as well — on Friday, October 30, this figure reached 27.44%, slipping to 27.21% the next day.

Earlier, between October 25 and 28, the average transaction fee rose by almost 200% — from $3.52 to $10.24.

The number of unconfirmed transactions in the congested mempool in recent days had fallen somewhat by Sunday morning, but still exceeds 50,000.

Source: Blockchain.com.

On Saturday, October 31, Bitcoin’s price reached a new 2020 high above $14,000.

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