Due to a decrease in inscription popularity, the average transaction fee for Bitcoin has dropped to its lowest level in recent years
CryptoQuant analyst Maartunn stated that the average transaction fee for Bitcoin is currently 0.000013 BTC (approximately $1.27), reaching a low point in recent years. In May 2023, December 2023, and April 2024, Bitcoin's transaction fees had surged multiple times, mainly driven by the launch of the Runes protocol and a significant increase in Bitcoin prices. At that time, the number of unconfirmed transactions in mempool (transaction memory pool) increased significantly, causing users to have to pay higher fees to get faster confirmations. Currently, mempool is idle and interest in Bitcoin inscriptions has declined; however if Bitcoins are scattered across multiple addresses now would be a low-cost opportunity to consolidate funds.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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