Quick Take
Bitcoin transaction fees have eclipsed Ethereum’s on a single-day basis, reaching a notable $11.6 million, a feat not seen since late 2020, according to Cryptofees.
This surprising surge is attributed to an increasing inscription frenzy. Comparatively, Ethereum’s daily transaction fees rest at a slightly inferior $8.5 million. However, when projected onto a seven-day scope, Ethereum retains its dominance by generating an average of $9 million in transaction fees, outpacing Bitcoin’s $5.5 million average, according to Cryptofees.
| Name | 1 Day Fees | 7 Day Avg. Fees |
|---|---|---|
| Bitcoin | $11,630,637.52 | $5,555,761.45 |
| Ethereum | $8,445,996.89 | $9,090,537.34 |
Source: Cryptofees
It is pivotal to understand that while these markers denote a slight paradigm shift in daily metrics, Ethereum still maintains an upper hand in the weekly comparison. This emerging trend warrants further observation to decipher potential long-term implications on the digital currency dynamics.
The post Bitcoin outstrips Ethereum in daily transaction fees for first time since 2020 appeared first on CryptoSlate.
Source: https://cryptoslate.com/insights/bitcoin-outstrips-ethereum-in-daily-transaction-fees-for-first-time-since-2020/