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January 03, 2018, 08:46:15 PM |
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After spending the final quarter of 2017 ramping up, transaction fees on the bitcoin network have finally begun to decline. Bitcoinfees.info indicates an average fee of $15.79 to have a transaction mined within the next six blocks, rising slightly to $16.54 for the next three blocks and $17.29 for the next block. The median withdrawal fee from exchanges such as Bitfinex this week has been closer to $14 however.
While $14-$16 is still more than many people would like to spend, it’s an improvement at least over the $30 bitcoin fees that were reached during December. Estimatefee.com quotes an average of 358 satoshis/byte to move a transaction within the next six blocks. The number of transactions in the mempool waiting to be confirmed is now below 90,000, from a peak of over 115,000 on December 30.
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