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Bitcoin Fees Fall 60% While Transaction Count Declines

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Bitcoin (BTC) average transaction fees dropped by nearly 60% in the last week, as the number of transactions queuing up to be processed on the network eased.

According to data from Bitinfocharts, the cost of making a transaction over the Bitcoin blockchain fell to around $2.61 on May 28, down from just over $6.28 six days earlier.

As a percentage of revenue for BTC miners, fees have also declined to just under 10% from 21% on May 20.

Transaction costs had soared over 220% since the May 11 scheduled bitcoin supply cut, capping off a rally ...

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