Bitcoin Transaction Fees Soar to $47 As Market Crashes

[Coin63@]

Price charts flash only red numbers and steep percentage drops today after Bitcoin dropped 15% overnight to lows of $52,144.

For many, this is the day to get out of the market. The subsequent exodus has caused a traffic jam on the Bitcoin blockchain.


Close to 130,000 transactions await confirmation on the blockchain according to data by Johoe-Hoenicke. And Bitcoin’s average transaction fees are currently at a four-month high of $46.88, up over 200% since April 4, when the average transaction fee was $15.56.source