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Rising miner fees in the Bitcoin network

Over the past three days, the average transaction processing fee on the Bitcoin network, according to Blockchair data, has grown from $3.5 to $11. Such dynamics are observed in connection with the rise in the price of Bitcoin and high volatility.

Previously, such an increase in fee was recorded at the end of 2017. Then the average fee rate increased to $ 62 per transaction, and the price for 1 BTC was historically the maximum — about $20 000.

Due to the rise in the price of BTC, the number of transactions has increased. At the moment, there are about 150 000 transactions in the mempool. If you need to send coins urgently, we recommend setting a high commission. Otherwise, the transaction may hang.