Summary
- Bitcoin network transaction fees fell to their lowest level in more than a decade.
- The 30-day simple moving average of total daily transaction fees came to about 2.5 BTC, the lowest since March 2011.
- It was analyzed as a signal indicating weaker demand for on-chain transactions, slowing network activity, and a decline in investors’ on-chain participation.
Forecast Trend Report by Period
Bitcoin (BTC) network transaction fees have fallen to their lowest level in more than a decade.
According to Glassnode on the 31st (local time), the 30-day simple moving average of total daily Bitcoin transaction fees stood at about 2.5 BTC, the lowest level since March 2011.
Glassnode said the "sharp drop in fees indicates a clear decline in demand for on-chain transactions" and described it as a "signal pointing to slowing network activity."
This trend is interpreted as an indicator that investors’ on-chain participation is waning amid recent market volatility.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
