On-chain data shows the Bitcoin transaction fee surpassed that of Ethereum during the last week as it hit a total of $61 million.
Bitcoin Transaction Fees Has Been Higher Than Ethereum Recently
According to data from the market intelligence platform IntoTheBlock, BTC transaction fees have recently surpassed that of ETH. The “transaction fees” here refer to the amount that every sender on the respective network has to attach with their transfer as a reward for the chain validator who processes the move.
How much fees the average user would attach depends on the traffic conditions on the blockchain at the time. When there is a high amount of traffic on the network, some transfers can get stuck for a while, as the chain validators have only a limited capacity to handle them.
Since the chain prioritizes the transfers with the highest fees, any user who wants to get their move through ASAP in such a time of congestion would have to go for fees notably larger than the average.
Thus, when
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