While a number of digital currencies have seen price gains the two leading crypto assets, bitcoin and ethereum have seen transaction fees skyrocket. For instance, data shows that the median fee for a bitcoin transaction is $8.58, while the median fee is $9.35 when spending ether. Meanwhile, the average transaction fee for both networks has been much higher between $14 to over $20 per transfer.
During the course of 2021, crypto assets have increased a great deal in value but alongside this, the fees to transact on these networks have risen as well. Bitcoin (BTC) and Ethereum (ETH) are the two largest blockchains, in terms of market capitalization. The two networks also take the cake when it comes to expensive transactions and this has been a complaint on social media and crypto-focused forums.
While a number of digital currencies have seen price gains the two leading crypto assets, bitcoin and ethereum have seen transaction fees skyrocket. For instance, data shows that the median fee for a bitcoin transaction is $8.58, while the median fee is $9.35 when spending ether. Meanwhile, the average transaction fee for both networks has been much higher between $14 to over $20 per transfer.
During the course of 2021, crypto assets have increased a great deal in value but alongside this, the fees to transact on these networks have risen as well. Bitcoin (BTC) and Ethereum (ETH) are the two largest blockchains, in terms of market capitalization. The two networks also take the cake when it comes to expensive transactions and this has been a complaint on social media and crypto-focused forums.