Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Investors pour $ 2.75 billion in Bitcoin ETFs as price scissors

2025-05-24

Tesla’s Bitcoin Stash Soars – how institutions form the future of BTC

2025-05-24

Trump rates crashes shares – but Bitcoin has seen it all before

2025-05-24
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Soonchain Partners with a decentralized calculation and AI -gaming

    2025-05-24

    Even launches a dedicated avalanche chain to strengthen the future of Fan-First music

    2025-05-24

    Bubblemaps V2 goes live on BNB chain, unlocking deep tok transparency

    2025-05-23

    FIFA to build his own blockchain on avalanche

    2025-05-23

    The graph makes safe cross-chain transfers from GRT possible with CCIP from Chainlink

    2025-05-23
  • NFT

    Alchemy acquires NFT Launchpad Heymint to speed up the development of Smart Wallet

    2025-05-23

    Delorean launches a car marketplace on the chains with Patrick Stewart

    2025-05-23

    Beratone NFT Avatars are now live on OpenSea

    2025-05-23

    Hashrate Hackers introduces Ordinals NFT collections supported by Bitcoin Hashrate

    2025-05-22

    FIFA starts Avalanche L1 to Power Soccer NFT Collectibles Platform

    2025-05-22
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Why the 50 EMA could contain the key

    2025-05-24

    Pi Network Token makes debut debut on Kraken with eternal futures with 20x leverage

    2025-05-24

    World’s Top Crypto Exchange by Trading Volume announces upcoming support for consumer -oriented Altcoin on Binance Alpha

    2025-05-23

    Bulls Eye $ 2.50 with Bullish Stailwind in the game

    2025-05-23

    Indicators show that the retail trade remains offside as a bitcoin trade at new highlights

    2025-05-23
  • Learn

    Wat is circulerende levering in cryptocurrency?

    2025-05-23

    What Is a DEX (Decentralized Exchange)?

    2025-05-21

    Blockchain Explained: What It Is, How It Works and Why We Need It

    2025-05-21

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»What causes Bitcoin miner fees to drop?
Bitcoin

What causes Bitcoin miner fees to drop?

2023-07-15No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


  • BTCs miner income from fees has fallen to a three-month low.
  • BTC miners refuse to sell their coins as the Exchange to Miner indicator grows.

Sitting at 2.61% at the time of writing, the percentage of miners’ revenue comes from fees paid to use the Bitcoin [BTC] network fell to its lowest level in the past three months, data from Messari showed.


Read Bitcoin [BTC] Price Forecast 2023-24


The decline in BTC mining fee income in recent months was due to the steady decline in transaction fees paid to use the network, despite the surge in transaction volume on the Layer 1 (L1) network.

According to on-chain data provider IntoTheBlocktotal fees paid to process transactions on the Bitcoin network have fallen 38% since March to a four-month low.

#Bitcoin rates fell to their lowest level since March, despite the recovery in transaction activity pic.twitter.com/xT9VMYoXOP

— IntoTheBlock (@intotheblock) July 14, 2023

There was once…

According to Messari data, the value of the average fee paid per transaction on the Bitcoin network rose to a high of $30.36 on May 8, the highest daily fee in the past year.

Source: Messari

The increase in transaction costs was due to an increase in trading volume on the Bitcoin network when the hype was around Ordinal numbers NFTs collection flooded the market. According to data from Glassnode, an average of nearly 600,500 daily transactions were recorded in May, driving up the cost of using the network.

Source: Glassnode

When Bitcoin’s average transaction fees hit a one-year high on May 8, the percentage of miner income from fees also rose to 33%, the highest in five years.

See also  US Bitcoin reserve will push price above $1 million: expert

However, as the craze of the Ordinals died down, transaction activity returned to normal, lowering transaction costs. Consequently, the percentage of miner income from fees also declined.

Source: Messari

Miners say “no” to letting their bags go, but here’s the catch

This is reported by the pseudonymous CryptoQuant analyst Tarekon chainA review of BTC’s Exchange to Miners indicator revealed that while mining revenue from fees may have taken a hit in recent months, miners on the L1 network have refused to sell their BTC holdings.

Source: CryptoQuant

The Exchange to Miners indicator tracks the flow of cryptocurrency from miners to exchanges. When this rises, it suggests increased BTC accumulation by miners on the Bitcoin network.


Is your wallet green? Check out the Bitcoin Profit Calculator


Tarekonchain commented:

“The pronounced spike in the Exchange to Miners Indicator suggests that miners are actively accumulating Bitcoin and choosing to hold onto their assets rather than quickly converting them back to stablecoins or fiat currencies.”

On what this means for the general market, Tarekonchain concluded:

“The preference of miners to hold Bitcoin in their wallets may represent positive long-term sentiment regarding Bitcoin’s future value. It reflects the belief among miners that holding on to Bitcoin could yield more profitability over time.

However, it is important to pay attention to Bitcoin’s Puell Multiple indicator. This indicator provides insight into the profitability of mining operations and helps identify potential turning points in the cryptocurrency market.

When the Puell Multiple climbs to a high value, it suggests that mining revenues are relatively high compared to the long-term average. This situation often indicates that miners have a strong incentive to sell their newly mined BTC, potentially increasing the selling pressure in the market. On the other hand, a low Puell Multiple indicates that mining revenues are relatively low compared to the historical average, which can discourage miners from selling and potentially lead to a decrease in selling pressure.

See also  Economist predicts a Bitcoin peak of $115,000, followed by a historic crash

This is reported by analyst CryptoQuant Joao Wedson:

“The Puell Multiple recently reached a long-term trendline dating back to 2017. It is interesting to note that in 2021, when the price rose after the indicator reached resistance, another downtrend occurred, marking the end of the bullish cycle .”

Source: CryptoQuant



Source link

Bitcoin Drop Fees Miner
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Investors pour $ 2.75 billion in Bitcoin ETFs as price scissors

2025-05-24

Tesla’s Bitcoin Stash Soars – how institutions form the future of BTC

2025-05-24

Trump rates crashes shares – but Bitcoin has seen it all before

2025-05-24

How will a Bitcoin price temperature of 2.67 influence the future of BTC?

2025-05-24
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Standard Chartered and Deutsche Bank Complete Stablecoin Trial on UDPN Blockchain

2023-10-24

Is altcoin season here? Analyzing Bitcoin dominance and market trends

2024-11-27

Omni-network, potential solution to Ethereum ecosystem fragmentation

2023-05-27
Editors Picks

Is it time for a ‘better bitcoin’? – Investor spark debate

2025-03-18

Bitcoin ‘Sales Pressure’ Building Up – What this means

2025-04-06

Pudgy Penguins’ trading volume increases 241% after the deal with Walmart

2023-10-02

Coinbase’s Layer 2 foundation is seeing an impressive increase in token holders, but there’s more to it

2023-11-03
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Investors pour $ 2.75 billion in Bitcoin ETFs as price scissors

Tesla’s Bitcoin Stash Soars – how institutions form the future of BTC

Trump rates crashes shares – but Bitcoin has seen it all before

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$110,422.60-0.12%
  • ethereumEthereum(ETH)$2,651.881.61%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.420.78%
  • binancecoinBNB(BNB)$683.320.50%
  • solanaSolana(SOL)$180.372.50%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.2425701.84%
  • cardanoCardano(ADA)$0.812.40%
  • tronTRON(TRX)$0.2731790.29%
  • suiSui(SUI)$3.82-5.40%
  • hyperliquidHyperliquid(HYPE)$35.0515.09%
  • chainlinkChainlink(LINK)$16.591.94%
  • avalanche-2Avalanche(AVAX)$24.963.88%
  • stellarStellar(XLM)$0.3003471.03%
  • shiba-inuShiba Inu(SHIB)$0.0000152.04%
  • bitcoin-cashBitcoin Cash(BCH)$437.635.60%
  • hedera-hashgraphHedera(HBAR)$0.2025991.17%
  • unus-sed-leoUNUS SED LEO(LEO)$8.86-0.04%
  • the-open-networkToncoin(TON)$3.130.01%
  • polkadotPolkadot(DOT)$4.912.42%
  • litecoinLitecoin(LTC)$99.771.73%
  • moneroMonero(XMR)$392.06-0.86%
  • bitget-tokenBitget Token(BGB)$5.789.96%
  • pepePepe(PEPE)$0.00001510.83%
  • piPi(PI)$0.79-4.78%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.00-0.06%
  • uniswapUniswap(UNI)$6.421.77%
  • bittensorBittensor(TAO)$458.95-2.84%
  • aaveAave(AAVE)$254.341.11%
  • nearNEAR Protocol(NEAR)$3.033.54%
  • aptosAptos(APT)$5.818.34%
  • ondo-financeOndo(ONDO)$1.011.19%
  • okbOKB(OKB)$52.83-0.29%
  • kaspaKaspa(KAS)$0.114524-0.41%
  • internet-computerInternet Computer(ICP)$5.612.68%
  • ethereum-classicEthereum Classic(ETC)$19.450.44%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.54-6.39%
  • gatechain-tokenGateToken(GT)$21.930.56%
  • render-tokenRender(RENDER)$5.164.81%
  • crypto-com-chainCronos(CRO)$0.0989160.05%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2494370.54%
  • vechainVeChain(VET)$0.0302161.31%
  • mantleMantle(MNT)$0.761.52%
  • ethenaEthena(ENA)$0.4169882.88%
  • worldcoin-wldWorldcoin(WLD)$1.5321.60%
  • usd1World Liberty Financial USD(USD1)$1.00-0.13%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.9010.09%
  • arbitrumArbitrum(ARB)$0.4241670.99%
  • bitcoinBitcoin(BTC)$110,422.60-0.12%
  • ethereumEthereum(ETH)$2,651.881.61%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.420.78%
  • binancecoinBNB(BNB)$683.320.50%
  • solanaSolana(SOL)$180.372.50%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.2425701.84%
  • cardanoCardano(ADA)$0.812.40%
  • tronTRON(TRX)$0.2731790.29%
  • suiSui(SUI)$3.82-5.40%
  • hyperliquidHyperliquid(HYPE)$35.0515.09%
  • chainlinkChainlink(LINK)$16.591.94%
  • avalanche-2Avalanche(AVAX)$24.963.88%
  • stellarStellar(XLM)$0.3003471.03%
  • shiba-inuShiba Inu(SHIB)$0.0000152.04%
  • bitcoin-cashBitcoin Cash(BCH)$437.635.60%
  • hedera-hashgraphHedera(HBAR)$0.2025991.17%
  • unus-sed-leoUNUS SED LEO(LEO)$8.86-0.04%
  • the-open-networkToncoin(TON)$3.130.01%
  • polkadotPolkadot(DOT)$4.912.42%
  • litecoinLitecoin(LTC)$99.771.73%
  • moneroMonero(XMR)$392.06-0.86%
  • bitget-tokenBitget Token(BGB)$5.789.96%
  • pepePepe(PEPE)$0.00001510.83%
  • piPi(PI)$0.79-4.78%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.00-0.06%
  • uniswapUniswap(UNI)$6.421.77%
  • bittensorBittensor(TAO)$458.95-2.84%
  • aaveAave(AAVE)$254.341.11%
  • nearNEAR Protocol(NEAR)$3.033.54%
  • aptosAptos(APT)$5.818.34%
  • ondo-financeOndo(ONDO)$1.011.19%
  • okbOKB(OKB)$52.83-0.29%
  • kaspaKaspa(KAS)$0.114524-0.41%
  • internet-computerInternet Computer(ICP)$5.612.68%
  • ethereum-classicEthereum Classic(ETC)$19.450.44%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.54-6.39%
  • gatechain-tokenGateToken(GT)$21.930.56%
  • render-tokenRender(RENDER)$5.164.81%
  • crypto-com-chainCronos(CRO)$0.0989160.05%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2494370.54%
  • vechainVeChain(VET)$0.0302161.31%
  • mantleMantle(MNT)$0.761.52%
  • ethenaEthena(ENA)$0.4169882.88%
  • worldcoin-wldWorldcoin(WLD)$1.5321.60%
  • usd1World Liberty Financial USD(USD1)$1.00-0.13%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.9010.09%
  • arbitrumArbitrum(ARB)$0.4241670.99%