Bitcoin mempool starts to clear as fee paid per block falls back to one

Quick Take

• This past week has been extremely wild in Bitcoin, with the emergence of BRC-20 tokens surpassing a $500 billion market cap.
• This has added momentum with Ordinals that started at the beginning of the year.
• CryptoSlate reported that miners received more Bitcoin in transaction fees than block rewards.
• However, using Glassnode data, we can see the average fees paid per block has returned to 1.0 Bitcoin per block.
• According to James Check analyst at Glassnode, “The average Bitcoin fee paid per block has only surpassed the block subsidy on five occasions, with the latest event being this week.”

Analyst View profile →

James Van Straten

Former Lead Analyst • CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

@jvs_btc LinkedIn

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