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The three-pronged “perfect storm” behind the 1,000% eruption in Bitcoin transaction fees The three-pronged “perfect storm” behind the 1,000% eruption in Bitcoin transaction fees
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The three-pronged “perfect storm” behind the 1,000% eruption in Bitcoin transaction fees

It’s been an expensive past three weeks for Bitcoin users.

The three-pronged “perfect storm” behind the 1,000% eruption in Bitcoin transaction fees

Photo by Marc Szeglat on Unsplash

It’s been an expensive past three weeks for Bitcoin users.

The average cost to send a BTC transaction, according to data from Blockchain dot com, surged from approximately $0.50 at the start of the month to a high of $6.63 on May 21 — a growth of more than 1,000 percent in just weeks’ time.

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