Bitcoin mempool starts to clear as fee paid per block falls back to one

2023-5-11 13:50

Quick Take This past week has been extremely wild in Bitcoin, with the emergence of BRC-20 tokens surpassing a $500 billion market cap. This has added momentum with Ordinals that started at the beginning of the year. CryptoSlate reported that miners received more Bitcoin in transaction fees than block rewards. However, using Glassnode data, we can see the average fees paid per block has returned to 1.0 Bitcoin per block. According to James Check analyst at Glassnode, “The average Bitcoin fee paid per block has only surpassed the block subsidy on five occasions, with the latest event being this week.” Average Fee Paid Per Block: (Source: Glassnode)

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China VC Says Bear Market Over for Bitcoin, but Altcoins Have 200 Days Left

Monday’s segment of CNBC Cryptotrader entitled ‘The Future of the Utility Token,” one of the guests made a bold prediction on the crypto market. Kira Sun, an investment manager at China-based blockchain investment firm Block VC, stated that he believes the bear market on Bitcoin to be at an end, but that altcoins will take […] The post China VC Says Bear Market Over for Bitcoin, but Altcoins Have 200 Days Left appeared first on CryptoSlate.

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