Glassnode: Average daily Bitcoin transaction fees have quadrupled since October 2023
Prior to Bitcoin’s halving and throughout much of 2024, Ethereum’s transaction fees were higher than Bitcoin’s. However, before the halving, on the day of the halving, and in the days after, Bitcoin’s fees exceeded those of Ethereum.
According to Glassnode, fees on both blockchains have been nearly equal since April 29; while on May 12, Ethereum generated $2.8 million in fees (7-day MA), its highest since October 2023. The lowest fee levels since March, when Ethereum was around $1,800, compared to the current price of just under $3,000.
Additionally, Bitcoin’s current average daily fees are roughly four times higher than in October 2023 (around $500,000), at $2 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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