Transaction fees for Bitcoin have eased, following their surge to more than $18 per transaction on two separate occasions last week. As of November 24, 2023, the average fee per transaction stood at roughly $5.89, with the median fee per transfer being $2.86.
Bitcoin Fees Cool Down — November’s Mining Revenue Has Already Outstripped October’s
After reaching a peak of over $18 per transfer on November 16 and 18, 2023, the expense for block space has seen a decline. Data from November 24 shows the average cost per transaction hovered at about $5.89.
This represents a significant decrease from the previous day’s average of $14.06 per transfer, underscoring the fluctuating nature of block space costs over the past week.
Data from Dune Analytics reveals that Ordinal inscriptions continue to flourish, with over 300,000 mints daily following a peak of more than 475,000 inscriptions on November 19. On November 24, a total of 347,791 inscriptions were minted, and as of November 25, bit
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