Summary
- It was reported that Bitcoin network fees have surged to their highest level this year.
- The total network fees increased by 105.8% compared to last week, reaching $6.8 million.
- Centora analyzed that active Bitcoin network activity, institutional buying pressure, and changes in the regulatory environment were the main factors.
Bitcoin (BTC) network fees have surged to their highest level so far this year.
On the 20th (local time), blockchain analytics company Centora (formerly IntoTheBlock) announced on X (formerly Twitter) that "weekly Bitcoin fees have reached their highest level this year." Although the price of Bitcoin fell by 2.5% compared to last week, the total network fees soared by 105.8% to $6.8 million.
Centora analyzed that "increased Bitcoin network activity, institutional buying pressure, and changes in the regulatory environment were the main factors."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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