Bitcoin Overtakes Ethereum in Daily Transaction Fees for the First Time Since 2020
Quick take
Bitcoin transaction fees eclipsed those of Ethereum on a single day, reaching a notable $11.6 million, a feat not seen since late 2020, according to Cryptofees.
This surprising increase is attributed to a growing registration frenzy. In comparison, Ethereum’s daily transaction fees remain slightly lower at $8.5 million. However, over a seven-day period, Ethereum maintains its dominance by generating an average of $9 million in transaction fees, surpassing Bitcoin’s average of $5.5 million, according to Cryptofees.
| Name | 1 day rates | 7-day average. Costs |
|---|---|---|
| Bitcoin | $11,630,637.52 | $5,555,761.45 |
| Ethereum | $8,445,996.89 | $9,090,537.34 |
Source: Crypto Fees
It is essential to understand that even though these markers denote a slight paradigm shift in daily metrics, Ethereum still maintains the advantage in the weekly comparison. This emerging trend merits further observation to decipher the potential long-term implications on digital currency dynamics.
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