Bitcoin’s Value and Rising Fees Lead to Lucrative Mining Profits
In the last 11 days, average transaction fees on the Bitcoin network have seen a significant uptick, jumping 288% according to Bitinfocharts.com. The site shows that the average transaction fee is now 65.8 satoshis per virtual byte (sats/vB) or 0.00018 BTC, which amounts to $11.64 for each transaction.
A transaction with a median fee will incur a cost of 0.000091 BTC ($6) or 33.9 sats/vB. During the 11 day period, the cost for a median-sized transaction has surged by 443.97%. Moreover, the volume of daily transactions has dipped since Feb. 12, not surpassing 425,000 transactions per day.
