According to data from bitinfocharts.com, the ease of transferring Bitcoins via the blockchain has increased since November 2023. The current average transaction fee is $2.77, or 0.000041 BTC. A median commission value of 0.00002 BTC, or $1.34, is recorded on the Bitcoin blockchain.
Users pay between 4 and 10 satoshi per virtual byte (sat/vB) when transferring digital assets, according to mempool.space. From $0.38 to $0.95, we’re talking about low- and high-priority transactions. The average amount that a Bitcoin miner made in block rewards and transaction fees was 3.3022 BTC between blocks 844,660 and 844,828, which is about 168 blocks.
Despite the decline in network fees, the mempool still contains more than 170,000 transactions that have not been confirmed. Since the second week of April 2024, according to Johoe’s Bitcoin data, the number has remained above 150,000. During October 2023, when fees were also relatively low, miners nearly cleared the mempool.
The fees on the Bitcoin network are lower than those on Ethereum, the second biggest blockchain by market capitalization. At the moment, each transaction on the Ethereum network costs an average of 0.0015 ETH, or $5.89. The average transaction fee is $2.15, or 0.00056 ETH.
Keep in mind that this metric is only applicable to regular Ether transfers and not to interactions with smart contracts or ERC20 tokens.