Bitcoin continues its decline from $30,000 on April 26, 2023 to $26,323 today, May 12. The current average cost to complete a transaction on the Bitcoin network is $11.
On May 9, the average transaction fee of one bitcoin reached $30.91. The last time it recorded such a high was in April 2021. Currently, after reaching the high, the average transaction fee of a bitcoin is around 11-14.5 USD, marking a decrease from the value of $20.34 recorded yesterday. According to YCharts, the fee has seen a drop of over 30.94% in the last 24 hours.
Transactions on the Ethereum Classic network
At the moment, it is quite cheap to transact on the Ethereum Classic network, where the fee to send approx. $180 is $0.008, which is less than one cent. ETC network speed is 124.31 TH/s vs. 315.23 EH/s of Bitcoin.
Transactions on the FIRO network
FIRO is a cryptocurrency specialized in privacy, and to send approx. $180 you have to pay a fee of $0.002, which is four times cheaper than Ethereum Classic. And transactions on the FIRO network are sometimes confirmed almost instantly!
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