Bitcoin transactions are approaching all-time highs while fees remain low. The number of transactions conducted in April is comparable to the peak of the market in December of 2017, yet total BTC fees decreased by 85 percent. What changed?
Transaction fees on the Bitcoin network rose to absurd levels during 2017. At the start of the year, average fees were below $0.40 per transaction. Accelerating interest in the technology in conjunction with skyrocketing BTC prices culminated in average fees of $20. For several days in December of 2017 an average transaction cost $55 to send.