Diar Blockchain Research Firm Discovers Bitcoin (BTC) Transaction Fees Are As Low As 2014
Diar is a crypto and blockchain research firm that recently published a report that referred to the current transaction fees associated with Bitcoin. On the report published on February 11th, the company revealed that the low Bitcoin transaction fees presently are at a level that the market has not seen since 2014.
In January, BTC transactions seemed to reach their greatest high in over a year in January, which was almost as substantial as what was experienced in 2017. The median transaction's value in BTC has dropped at this point, as the median fees also went down to these low levels. The report adds,
“Median Fees are also at levels not seen since 2015 despite the total monthly Bitcoins moved on-chain standing at higher levels than seen throughout most of 2018.”
Cryptocurrency exchanges reached the end of 2018 with “record transacting volumes,” increasing the trade volume by 21% between 2017 and 2018. During the same time, there were increases in exchanges Kraken (192%) and Bitfinex (50%).
Last week, a separate report was released by Diar that described the trading volumes since the beginning of this year, which reached substantial lows in January. This time is considered to be the worst for Binance, considering the reduction of 40% in the BTC/USD market, when compared to the trading volume last year in December.
In January, the company also showed the all-time high that Ethereum reached in December at 115 million. Diar’s report said,
“In terms of transaction count on-chain the ‘super computer’ has found stability since October bobbing between 16–17 million monthly transactions.”