The fall in the value of Bitcoin (BTC) and Ether (ETH) has led to a significant decrease in transaction processing fees.
According to the BitinfoCharts service, on average, fees fell by 80% compared with the maximum values recorded at the end of last month.
Now you need to pay $ 11.34 for processing a bitcoin transaction. For comparison, at the end of April this figure reached $ 62.7. Ethereum fees dropped from $ 60 to $ 20.
Note that on Monday, May 17, Bitcoin and Ether fell to $ 44,000 to $ 3400. The bitcoin dominance index continues to decline, today this figure is 39.9%, having fallen by 70% since December, analysts say.
By contrast, ETH’s market share has grown significantly over the past few months. This trend was the result of a surge in transactional activity on the network and a surge in the price of the largest altcoin.
The Ether Dominance Index reached 19.03%, the highest since the winter of 2018.
Now, on average, the Ethereum network processes 1.425 million transactions per day. User activity is weakening amid falling altcoin prices. At its peak, the ETH network processed more than 1.71 million transactions daily, according to EtherScan.
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