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From record highs to notable lows: Bitcoin fees after the inscription booms

1 February 2024
in Crypto Exchanges
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Fast Take

A compelling development emerged within the Bitcoin panorama in 2023, marked by two distinct spikes in mining charges – one in Might and the opposite in November. Each have been immediately correlated to a surge in Bitcoin inscriptions, with the Might frenzy subsiding after a month, whereas the November surge endured for about two months, extending into January.

Complete Transaction Charges: (Supply: Glassnode)

Nonetheless, current on-chain knowledge reveals a notable shift—the whole quantity of Bitcoin charges is now on the lowest level since earlier than the November spike. 

Presently, miners obtain about 50 BTC in charges, roughly $2.1 million, over double the charge quantity earlier than the November surge.

Apparently, from the angle of miner income, the share derived from charges – calculated as charges over the sum of charges and minted cash – has settled round 6%. 

Percent Miner revenue from fees: (Source: Glassnode)
% Miner income from charges: (Supply: Glassnode)

The put up From document highs to notable lows: Bitcoin charges after the inscription booms appeared first on CryptoSlate.



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