CoinMetrics: Daily Transaction Fees for Bitcoin (BTC) Take New Lead Over Ethereum (ETH)

Even though Ethereum jumped ahead of Bitcoin’s fees for a moment in September, that moment is over. Reports from CoinMetrics show that Bitcoin is holding a strong advantage over Ethereum’s transaction fees, rising by 40% over the course of seven days, and Ethereum didn’t even reach half of that progress.

  • While Bitcoin’s transaction rose by over 40%, Ethereum’s fees only rose by 18.4%
  • Presently, Bitcoin is valued at $9,351.25.

Bitcoin has consistently reigned as the top cryptocurrency in the industry over the last decade, regardless of the success of the altcoins available. Now, information from CoinMetrics reveals that Bitcoin (BTC) managed to extend the lead far beyond Ethereum (ETH), as far as daily transaction fees go. While the top altcoin managed to flip Bitcoin last month in this area, the success didn’t last.

In the last week, the transaction fees of Bitcoin rose by 42.2%, as the average fees reached $268,700. Comparatively, the Ethereum network saw about $93,500 in fees for the same time, rising by 18.4%. Over the course of seven days, Bitcoin managed to completely overcome every other crypto asset, apart from a few Chinese altcoins.

U.Today reports that the total fees amounted to 153.9 BTC, which is approximately $1.4 million at the current prices. That number followed a 20% green candle for Bitcoin, which popped up on April 2nd.

In December 2017, Bitcoin historically reached $20,000, and the fees jumped to about $55. Just to send $25, one Twitter user reported having to pay a $16 fee.

At the time of writing, Bitcoin was priced at $9,351.25 after losing 0.30% in the last 24 hours.

Bitcoin (BTC) Live Price

1 BTC/USD =$13,116.8921 change ~ 2.58%

Coin Market Cap

$242.79 Billion

24 Hour Volume

$3.9 Billion

24 Hour VWAP

$12.97 K

24 Hour Change

$338.6000

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Krystle M
Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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