Bitcoin Transfer Fees Are Declining

Bitcoin transfer fees are declining. With Bitcoin miners regaining their strength, mining rates are at record levels.

Although cryptocurrencies emerged with the aim of revolutionizing the financial world, there is a reality such as transfer fees. High transfer fees in the Bitcoin and Ethereum network have led to projects focusing on low commissions such as Tron, EOS, Polygon. Transfer fees are directly related to network mining rates. Due to the intense pressures of China, the miners' difficulties had increased the transfer fees in the Bitcoin network to record levels. With the improvement of the situation, commissions gradually decreased. As of April, Bitcoin transfer fees have dropped to a record $1.03. Bitcoin mining rates broke a record with 248.11 EH/s. In other words, as the mining rates increase, the transfer fees will decrease. Ethereum mining will end with the constantly postponed The Merger update. This will result in a decrease in transfer fees. Thanks to lower transfer fees, we will be able to see more frequent Bitcoin and Ethereum transfers between wallets.