Why have transaction fees gotten lower all of the sudden?

[Crypto Piece]

The percentage of Segwit transactions has been pretty stable at about 12%, but the block size has increased to 1.14 MB on average, and fees have fallen considerably. Is there something I’m missing? 

[junoreactor]

Where did you get these numbers? I thought Segwit transactions were increasing day by day.
Anyway, fees have halved since December I think. Maybe it's also due to Bitcoin being less popular than a month ago, the price has declined quite a bit since it's highest at $19k. But I think transaction fees are still way too high, not long ago I used to pay 0.0005 from the wallet I use. That's what is stopping Bitcoin mass adoption.

[BossMacko]

Price of Bitcoin also one of the reason why the fee got lower and another reason is that the transactions of bitcoin is not that congested like what it use when the price is 15k$ +. Those are the reason why the fees are lower.

[jseverson]

That would be because of lower transaction volume.

Why and how that happened is anyone's guess. Bitcoin hasn't been doing very well as of late, so it's possible that traders have moved to alts, and everyone is simply HODLing Bitcoin again. I'm not complaining though, and I'm glad I can move my coins freely again. I hope the major exchanges use this opportunity to adopt Segwit if they haven't already. They're the reason most transactions are still non-Segwit. I'm sure it will go a long way.

[jtipt]

The percentage of Segwit transactions has been pretty stable at about 12%, but the block size has increased to 1.14 MB on average, and fees have fallen considerably. Is there something I’m missing? 

No, the segwit adoption is increasing considerably and so are the transactions and there were also 2MB+ blocks mined consecutively day before yesterday. Mostly the mempool is just clearing now that the transaction load has decreased.

[fiulpro]

First of all segWit addresses are increasing!

Also the transaction fee depends upon the Cost of bitcoins , for example one bitcoins costs 100 $ the fee is 0.1 bitcoin then you must pay 10$, if the price rise to 1000 $ you are still supposed to pay 0.1 bitcoin only and that is 100$ now , that's how the fee varies according to the situation ..

It's something dependent on the present value of Bitcoins.

[notyours]

The percentage of Segwit transactions has been pretty stable at about 12%, but the block size has increased to 1.14 MB on average, and fees have fallen considerably. Is there something I’m missing? 

Transaction fees are percentage in which the total amount involved in the transaction. So if an exchange has a fixed percent of transaction fees, as the price of bitcoin increases the amount of the fees being given also increases, and also same as bitcoin's price decreases. It is safe to say that bitcoin might grow in value and also depreciates, its transaction fee percentage will always be the same.

[Lamisa asfiya]

Transaction fees are the hundred percent accounting that is the total amount associated with the transaction. There is a fixed percentage amount in an exchange transaction. Bitcoin bids increase the amount. Again, Bitcoin prices are calculated the same. For this, the percentage of refund fees will always be the same.

[Doge dealer]

yes the acceptance of bitcoins is increasing daily and as such all the roadblocks that were constructed to slow and stifle bitcoins are being destroyed one by one so you are going to realise that a number of things that were sore thumbs are suddenly solved.

[flashmark]

The Bitcoin and Etherium network not congested as last January. Market cap is very low now. I think Transaction fee will continue in current range unless market cap is increased.

[squallw]

There are some facts like segwit, bitcoin price crash, miners/flooders stopped the attack and we have less transaction per day
By december we had a peak of 490k transaction per day and now we have less than 200k. In fact, some days we had 135k transaction:
https://blockchain.info/pt/charts/n-transactions?timespan=180days