{"id":19886,"date":"2023-02-08T13:38:50","date_gmt":"2023-02-08T21:38:50","guid":{"rendered":"https:\/\/coinnetworknews.com\/122-rise-in-10-days-bitcoin-news\/"},"modified":"2023-02-08T13:38:50","modified_gmt":"2023-02-08T21:38:50","slug":"122-rise-in-10-days-bitcoin-news","status":"publish","type":"post","link":"https:\/\/coinnetworknews.com\/122-rise-in-10-days-bitcoin-news\/","title":{"rendered":"122% Rise in 10 Days \u2013 Bitcoin News"},"content":{"rendered":"
Statistics show transfer fees on the Bitcoin network have increased 122% since the end of last month, as the average transaction fee has climbed from $0.767 to $1.704 per transaction. The rise in onchain fees coincides with the new Ordinals digital collectible trend on the network, with the number of inscriptions nearing 20,000.<\/strong><\/p>\n Bitcoin network fees, or the average cost to transfer BTC<\/a>, rose 122% during the first week of Feb. 2023. Statistics from bitinfocharts.com<\/a> and ycharts.com<\/a> show the average transaction on Feb. 7, 2023, was around 0.000075 BTC<\/a> or $1.70 per transfer. Onchain fees on Jan. 29, ten days prior, were roughly $0.767, according to the statistics. Users generally pay lower fees than the average, and the median-sized onchain transfer using the Bitcoin network at that time was around $0.167 per transfer. As of Feb. 7, median-sized fees<\/a> have increased 316% to $0.696 per transfer.<\/p>\nRising Transaction Fees Help Bitcoin Miners Reap Increased Revenue Despite Falling Spot Prices<\/h2>\n