A recent report from the Blockchain and Digital currency research company Diar shows that transaction fees for Bitcoin (BTC) on-chain transactions are at a new low. Although Bitcoin transaction fees were high in January, the median transactions value in Bitcoin reportedly has dropped. Bitcoin median fees are near the 2015 levels and Diar stated:
“Median Fees are also at levels not seen since 2015 despite the total monthly Bitcoins moved on-chain standing at higher levels than seen through most of 2018.”
Bitcoin transaction fees are at their lowest since 2015
In January, the Blockchain and Cryptocurrency research firm Diar released a report revealing that the value of on-chain transactions of Ethereum (ETH) has reached an all-time high in December of 2018. The value of Ethereum on-chain transactions reached 115 million and Diar stated that:
“In terms of transaction count on-chain the ‘super computer’ has found stability since October bobbing between 16-17 million monthly transactions.”
Last month, Diar stated in another report that Digital currency exchanges closed 2018 with extremely high transaction volumes. The combined trading volume of USD markets on one of the biggest Cryptocurrency exchanges in the world Coinbase increased by more than 20% in 2018, comparing to 2017.
For the same period, Digital Currency Exchanges like Bitfinex and Kraken increased by 50% and more than 190% respectively. One of the most recent reports by Diar stated that since the start of 2019, trading volumes on Crypto exchanges were turbulent, falling to lows and reaching highs.
These changes even reflected on the world’s biggest Crypto exchange Binance. In comparison to December of 2018, the reported trading volume for Binance on the BTC/USD trading pair shrunk by 40%.
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