The median value of transaction fees on the bitcoin network on February 21 reached a six-month low of $ 0,79. This is reported by ArsTechnica.
The value of the commissions in the Bitcoin network reached a maximum of $ 34 in December 2017, which is 43 times the current value. Then, high transaction costs in operations with “digital gold” led to a crisis in the network: many companies refused to accept cryptocurrency, in particular, the Steam gaming service and Stripe payment provider. The situation was complicated by the high volatility of the BTC course.
However, the problem of high commission "decided itself." Some users refused to use the Bitcoin network, reducing the workload, and some began to use ways to optimize operations, for example, combining various payments into one transaction.
In addition, the situation was affected by the cooling of the market. At the end of 2017, BTC users were willing to pay high fees for the opportunity to buy or sell cryptocurrency at a speculative price. However, at the beginning of 2018, the course fell almost three times, to $ 6 thousand. This probably somewhat reduced the excessive rush in the market and was one of the factors for reducing the average transaction fees.
Note that over the past three weeks, the price of popular cryptocurrency has mainly grown, breaking the $ 11 thousand mark by mid-February.
Earlier, ForkLog reported that the popularity of bitcoin is growing amid a decrease in altcoin capitalization. Bitcoin's dominance index is now 39,2%.