World's largest crypto currency bitcoins transaction fee dropped 89% in a month.
Data by bitinfo charts showed bitcoin transaction fee drop by 89% by this month.
Bitcoins transaction average fee is around $0.89 which skyrocketed upto $6.88 last month.
Now bitcoins transaction fee has dipped to fresh lows and fees are currently stable at $0.71 per transaction.
After the halving event bitcoin transaction fee raised to $6.88 per transaction which was the highest since 2018.
Data shows bitcoin fees have dropped by almost 90% in just 29 day and stable at $0.71 per transaction.
Bitcoin fee raised to top when heavy usages occur on the network and miners weren't able to mine all the blocks fast enough.
To complete the transaction faster bitcoin users that paid the highest fee got their transaction passed faster than others.
When bitcoin network was at the busiest in december 2017 when transaction fee raised to $55.
Bitcoin users can choose the fee and adjust them according to their needs users can even sent transactions without paying any fees however it will take alot more time to get processed.
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