Bitcoin Fees On The Rise, BitMEX & Coinbase Should Batch Txs: Bitrefill CEO

With the uptick in the Bitcoin (BTC) price, transaction fees have been on the rise again. While users could send transactions with a $0.03 fee at the bottom of the bear market, most transactions are now sent with $1 or $2 fees. Some skeptics, like the @Bitcoin Twitter handle, have been claiming that this is the end of the world, singing the praises of forks and alternatives as a way to transact value between wallets. (This shouldn’t be surprising, we saw this in the last bull run.)

But, as put by Sergej Kotliar, the chief executive of Bitrefill, the fee situation isn’t apocalyptic yet. As seen in the graphics below posted by Kotliar, the growth in the mempool, which coincides with higher fees, is effectively not even visible on the chart. In fact, the mempool is less than 10% the size it was in late-2017/early-2018, which was when the average transaction fee for the Bitcoin blockchain was above some $20 for weeks.

Original source

Add comment

Please Sign in to be able to leave comments.