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Bitcoin [BTC]: Transaction fees remain minimum as transaction rates approach all-time high

Bitcoin is currently passing through the longest bear market in the history of cryptocurrencies. Many experts and analysts have recently predicted that the worst is yet to come, even as Bitcoin recently received support from the CEO of Twitter, Jack Dorsey. Dorsey had branded Bitcoin as the native currency of the internet and demonstrated support in the Lightning Network ‘Torch’ experiment.

While the popularity of Bitcoin might be divided among the crypto verse, according to recent data released on the, transaction rates are approaching all-time highs even though transaction fees remained evidently lower in the Bitcoin Network.

Transactions rates per block | Source: Blockchain

Transactions rates per block | Source: Blockchain

Transaction fee per block | Source: Blockchain

Transaction fee per block | Source: Blockchain

Based on the data, it can be clearly seen that the last time average transactions per block approached the current trend of high levels, which is well above 2,000/block, was in the very beginning of 2018, and the transaction fees were also…

Read Full Story : AMBCrypto

2019-02-08 12:30:41

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