If on February 7 the average cost of one transaction on the Bitcoin network was just over $ 11, now it reaches $ 25.4. This is evidenced by the latest data from the BitinfoCharts service.
Transaction fees soared after it was revealed that Tesla had invested $ 1.5 billion in BTC.
Over the past three days, commissions have skyrocketed 122%. However, compared to December 2017, the cost of one operation is still much lower now. During the first historic run of Bitcoin, transaction fees reached $55.
One of the developers of BTC Leon Johnson believes that there is no reason to panic. According to him, now the overwhelming majority of investors prefer to store cryptocurrencies, rather than sell them.
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Therefore, as soon as the excitement around Tesla's participation in buying BTC subsides, commissions will begin to decline again.
At the same time, the number of operations processed by the so-called second-level solution or Lightning Network, that is, outside the main blockchain, is growing. However, for now, most people still prefer to bypass LN, since this network is still not available for many popular wallets.
Transaction fees are rising on the Ethereum network as well. Now the average commission is $24.2 there. Note that in early January, Ethereum fees did not exceed $9.