untitled design

The cost of a transaction in the Bitcoin blockchain has surpassed that of Ethereum

The average commission in the blockchain of the first cryptocurrency has surpassed the corresponding indicator of Ethereum amid renewed interest in Ordinals.

Over the past seven days, the average transaction cost on the Bitcoin network has increased by 49%, from $8.59 to $12.75. The ether indicator is at $7.55.

“While both networks have seen a recent surge in activity (and resulting fees), the recent resurgence in Ordinals issuance and trading appears to have pushed average fees higher than Ethereum,” noted The Block researcher Rebecca Stevens.

The chart below shows the November spike in daily Ordinals issuance after a deep decline in September-October.

In total, ~42.6 million Bitcoin NFTs have been issued since the launch of the protocol. The total volume of commissions associated with “inscriptions” reached 2952 BTC ($109 million).

Source: Cryptocurrency

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights


Most popular