RATE Group | Bitcoin and Ethereum Users Complain About Rising ‘Ridiculous’ Fees
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Bitcoin and Ethereum Users Complain About Rising ‘Ridiculous’ Fees

15 May Bitcoin and Ethereum Users Complain About Rising ‘Ridiculous’ Fees

Posted at 19:42h in Cryptocurrency News by

Bitcoin and Ethereum Users Complain About Rising 'Ridiculous' Fees 101
Source: Adobe/khosrork

While Bitcoin (BTC) fees keep rising, Ethereum (ETH) fees are also getting more expensive.

Bitcoin fees have been rising following the third halving. On May 12, the average transaction fee reached USD 2.79, the highest in ten months, jumping further to USD 5.16 on May 14. Bitinfocharts.com shows the 7-day moving average jumping since May 12’s USD 2.493 to USD 3.088 two days later.

In the same period, the median transaction fee climbed 55% – from 1.797 to 2.781. The 7-day moving average shows an increase of 25% to USD 1.814. On April 1, it stood at USD 0.366 and was 395% higher on May 14.

Median transaction fee, USD, 7-day simple moving average

Bitcoin and Ethereum Users Complain About Rising 'Ridiculous' Fees 102
Source: Bitinfocharts.com

“This is ridiculous,” commented Redditor ‘miciomacho’. “[Bitcoin] just doesn’t scale. 72 blocks in mempool & a median fee of [USD] 3.19 on the second block.” They added that this kind of fee wasn’t intentional by design, but rather a result of an overcrowded mempool, where all the valid…

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