By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoXTimesCryptoXTimes
  • Home
  • News
    • Crypto
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • Shiba Inu News
    • Ripple News
    • Analysis
    • iGaming News
  • Cryptocurrency
    • Price Prediction
    • Learn
    • Reviews
  • Advertise
    • Press Release
  • Contact Us
Notification Show More
Font ResizerAa
CryptoXTimesCryptoXTimes
Font ResizerAa
  • Home
  • News
  • Cryptocurrency
  • Advertise
  • Contact Us
Search
  • Home
  • News
    • Crypto
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • Shiba Inu News
    • Ripple News
    • Analysis
    • iGaming News
  • Cryptocurrency
    • Price Prediction
    • Learn
    • Reviews
  • Advertise
    • Press Release
  • Contact Us
Have an existing account? Sign In
Follow US
© 2024 CryptoXtimes. All Rights Reserved.
CryptoXTimes > Article > News > Bitcoin’s Post-Halving Fee Surge – Stability Or Turmoil
NewsBitcoin News

Bitcoin’s Post-Halving Fee Surge – Stability Or Turmoil

Bitcoin's halving raised fees, sparking debate on its stability.

Rubab Fatima
Last updated: April 22, 2024 6:41 pm
Rubab Fatima 1 year ago
Share
Bitcoin's Post-Halving Fee Surge - Stability Or Turmoil

The long-awaited halving of Bitcoin happened on April 20. As a result, network fees in the bitcoin market went up quickly. It was thought that Bitcoin’s transaction fees would go down after they were halved, but they went up to a new high. People aren’t sure if this trend will keep going.

From what Glassnode could tell, Bitcoin’s network fees rose to over 1,257 BTC on the day of the split. That’s more than $81 million at the time. It had been years since the daily fee had been that high. This meant that trades cost both users and miners a lot more.

Bitcoin’s Fees Decrease After Initial Surge

However, even though fees went up at first, they have since gone down a lot. The price of Glassnode dropped to 344 BTC, which is around $22.3 million. It’s clear that purchase prices changed a great deal very quickly.

It’s interesting that this rise in fees happened at the same time that fewer new Bitcoin addresses were being made every day. A study by analyst showed that the number of new addresses was going down, which suggests that the rise in fees wasn’t caused by an immense spike of new users.

Instead, discussion spread about the Runestone project and how it might change the fees for transactions. This idea was supported by the next drop in fees, which showed that the fee increase might not have been due to more users but to outside causes.

It didn’t change much in price, even though fees did go up. On April 21, it went down a bit but then went back up. As this was written, the price of BTC was around $66,200, which is a small 1.7% increase.

People who study cryptocurrencies said that Bitcoin’s rise was not yet over, but the market kept cautiously optimistic. To show that it is back on a rising trend, it would need to break above key support levels. This could cause prices to rise even more.

You Might Also Like

PEPE Memecoin Surges 8.5% After Trump’s Cryptic Post Sparks Frenzy

Telegram Integrates Elon Musk’s Grok AI in $300M Deal

Berachain Transactions Tumble, Fee Revenues Cut In Half

Trump Media Launches $2.5B Crypto Investment Strategy

$BONK Surges 4% as Breakout Above $0.000021 Nears

TAGGED: Bitcoin, Crypto, Cryptocurrencies
Previous Article Dogecoin's Journey to $1 As Expert Maps Out Technical Analysis Patterns Dogecoin’s Journey to $1 As Expert Maps Out Technical Analysis Patterns
Next Article Bitcoin Miner Price Hits $244,000 Amid Market Changes Bitcoin Miner Price Hits $244,000 Amid Market Changes
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Socials
TwitterFollow
TelegramFollow
LinkedInFollow

Subscribe to our newslettern

Get Newest Articles Instantly!

Popular News
PEPE Memecoin Surges 8.5% After Trump’s Cryptic Post Sparks Frenzy
PEPE Memecoin Surges 8.5% After Trump’s Cryptic Post Sparks Frenzy
Iceland PM Shifts Energy from Bitcoin to Agriculture
Iceland PM Shifts Energy from Bitcoin to Agriculture
RippleX Halts AMM Pool Deposits Due to XRP Ledger Glitch
RippleX Halts AMM Pool Deposits Due to XRP Ledger Glitch

You Might Also Like

XRP Gathers Momentum Amid Whale Accumulation and ETF Buzz
Altcoin NewsNews

XRP Gathers Momentum Amid Whale Accumulation and ETF Buzz

By Muhammad Ali 4 weeks ago
MOVE Token Drops 20% After Coinbase Announces May 15 Trading Suspension
CryptoNews

MOVE Token Drops 20% After Coinbase Announces May 15 Trading Suspension

By Haider Ali 4 weeks ago
XRP Eyes Potential 15% Gains Amid Regulatory And Market Developments
NewsCrypto

XRP Eyes Potential 15% Gains Amid Regulatory And Market Developments

By Nayab Fatima 4 months ago
Shibarium Hits 912M Transactions as SHIB Burn Rate Skyrockets
NewsCrypto

Shibarium Hits 912M Transactions as SHIB Burn Rate Skyrockets

By Rubab Fatima 4 months ago
CryptoXTimesCryptoXTimes
Follow US
© 2024 CryptoXtimes. All Rights Reserved.
  • About Us
  • Careers
  • Privacy Policy
  • Risk Disclaimer
Welcome Back!

Sign in to your account

Lost your password?