Blockchain
Bitcoin Transaction Fees Experience Significant Drop Following Record High
Bitcoin transaction costs have seen a significant decline following a record high, drawing attention from the cryptocurrency community. Let’s delve into the specifics of this development.
1. Plunge in Bitcoin Transaction Fees: After reaching a record high of $128 on April 20, the average charge for Bitcoin transactions has dropped notably. As of April 21, medium-priority transactions were averaging $8–10. This reduction is a welcome relief for Bitcoin users who were previously grappling with steep transaction fees.
2. Record-Breaking Fees During Bitcoin Halving: The fourth Bitcoin halving occurred on April 20, coinciding with a surge in transaction fees. The halving, which took place at block height 840,000, was a significant milestone in the network’s history. ViaBTC, a Bitcoin miner, received a fee of 37.7 BTC ($2.4 million), setting a new record for the network’s 15-year history. This substantial fee underscores the heightened activity and demand generated by the price reduction.
3. Comparison with Ethereum: Bitcoin’s transaction costs during the halving amounted to $78.3 million, surpassing Ethereum’s fees by more than 24 times. This comparison underscores Bitcoin’s dominance in terms of transaction volume and costs.
4. Sustained High Fees and Subsequent Decline: While block fees remained elevated until around block 840,200, they have since decreased to approximately 1-2 BTC. This decline suggests that transaction costs will once again become more manageable for Bitcoin users.
5. Impact on Bitcoin’s Price: Notably, the price of Bitcoin did not experience significant fluctuations following the halving event. Despite the split, Bitcoin saw a modest 1.5% increase, reaching $64,840. This price stability indicates that the market has factored in the impacts of the halving and is adjusting accordingly.
Source: blockchain.news
The post Bitcoin Transaction Fees Experience Significant Drop Following Record High appeared first on HIPTHER Alerts.
WadzPay, a leading fintech company specialising in blockchain based technology for virtual asset payment solutions, is proud to announce its plan to enter the Stablecoin business, marking a significant expansion of its offerings. With a steadfast commitment to innovation and addressing evolving market demands, the company has strategically positioned itself to capitalise on the growing opportunities within the virtual asset financial services space.
ZettaBlock, a leading provider of blockchain solutions, has recently announced a significant enhancement to its offerings with the addition of blockchain data services. This development marks a strategic move aimed at bolstering ZettaBlock’s capabilities and further solidifying its position in the blockchain industry.
By integrating blockchain data services into its portfolio, ZettaBlock seeks to address the growing demand for comprehensive and reliable data solutions within the blockchain ecosystem. The new offering will enable clients to access a wealth of blockchain data, empowering them to make informed decisions and derive valuable insights from the vast amount of information available on various blockchain networks.
ZettaBlock’s decision to expand its services comes at a time when the importance of blockchain data analytics is increasingly recognized across industries. With blockchain technology continuing to gain traction and adoption worldwide, the ability to effectively harness and analyze blockchain data has become crucial for businesses and organizations seeking to unlock new opportunities and drive innovation.
Through its blockchain data services, ZettaBlock aims to cater to the diverse needs of its clients, providing them with access to real-time and historical data from a wide range of blockchain networks. This includes transaction data, smart contract metrics, network activity, and more, allowing users to gain deeper insights into blockchain transactions and activities.
The addition of blockchain data services represents a significant milestone for ZettaBlock, underscoring the company’s commitment to delivering cutting-edge solutions that meet the evolving needs of the blockchain industry. As businesses increasingly recognize the value of blockchain data in driving decision-making and enhancing operations, ZettaBlock’s comprehensive data services are poised to play a key role in shaping the future of blockchain analytics.
Source: cryptonewsz.com
The post ZettaBlock announces the addition of blockchain data appeared first on HIPTHER Alerts.
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