Bitcoin’s transaction fees plummets to April 2020 bottom

Transaction fees are plummeting to levels not seen in more than two years, and now make up only 1% of miner revenues.

The daily transaction fees plummeted by 28% over the past seven days and were only $265,000. It's the lowest level since April 2020 and signals very muted on-chain activity at the moment.

Transaction fees now make up only 1.28% of miners' revenues, and miners receive almost 99% of revenues from the block subsidy of 6.25 bitcoin.

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