After the third ever halving of bitcoin in history, bitcoin's transaction fees have increased by over 800% in one month!
Transaction fees for bitcoin transactions increased by more than 1250% in one month from 11 April to 14 May. As late as April, we still could send bitcoin paying just $0.38.
Currently, at the time of writing this article, the fees have fallen to about $3.50, but since the extraction of reward block they have increased by 36.5%.
Fees Double in 3 Days After Last Halving
In May were recorded the highest transaction fees since July 2019, and cost of executing transactions increased by more than 800%.
Since halving, bitcoin fees have increased by one third, which means that they have increased by over 100% in three days.
Despite the high price levels of bitcoin transaction fees, they represent only 10% of the ATH that took place in the bull market at the end of 2017.
Second halving - 2016
During the previous halving, transaction costs decreased by 8% immediately after the reward block was extracted.
In the run-up to the second Bitcoin halving on July 9, 2016, fees increased by approximately 200% from May 1, 2016 to a peak of approximately $0.081, both in mid-June and late July of that year.
First halving - 2012
During the first bitcoin halving, transaction fees increased by 300% in one day from 26 to 27 November 2012 and after two days returned to pre-halving levels.