Bitcoin mempool starts to clear as fee paid per block falls back to one
Bitcoin average fee paid per block drops back to 1 — from 6.
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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.”
