Bitcoin and Ethereum users who need to move their funds around can take advantage of low fees in both ecosystems.) transaction fee hit an eight-month low of $1.93 on June 23. Average Ethereum fees were $0.70 on June 22, comparing favorably to highs of $2.50 as recently as March.“The drop in Bitcoin transaction fees is largely tied to reduced network congestion and an adjustment in mining activities following the latest halving event.
Justin d’Anethan, head of business development APAC at crypto market maker Keyrock, said additional factors also contributed to the decrease in fees. “After the halving, there were some short-term spikes in onchain BTC activity and fees. But generally, the Ordinals and BTC inscriptions narratives come and go,” he said.Although the drop in fees might be good news for users, the picture is less rosy for miners.He added: “Long term, for Bitcoin to remain secure, miners performing proof-of-work must be able to recoup their real-world electrical/compute costs.
D’Anethan points out that much of the traffic shouldered by Ethereum has now moved to Arbitrum, Optimism and Base, as Ethereum intended. “Lower fees can be seen as bullish signals for the ecosystems. The shift toward efficient L2 solutions marks significant progress in Ethereum’s roadmap toward scalability and advanced technology. This positions it as a more adaptable framework for future applications,” said Dervoed.Dervoed added: “The ecosystem may see periodic fluctuations due to changes in mining economics and network activity.
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