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Quick Take

Bitcoin transaction fees have eclipsed Ethereum’s on a single-day basis, reaching a notable $11.6 million, a feat not seen since late 2020, according to Cryptofees.

This surprising surge is attributed to an increasing inscription frenzy. Comparatively, Ethereum’s daily transaction fees rest at a slightly inferior $8.5 million. However, when projected onto a seven-day scope, Ethereum retains its dominance by generating an average of $9 million in transaction fees, outpacing Bitcoin’s $5.5 million average, according to Cryptofees.

Name 1 Day Fees 7 Day Avg. Fees
Bitcoin $11,630,637.52 $5,555,761.45
Ethereum $8,445,996.89 $9,090,537.34

Source: Cryptofees

It is pivotal to understand that while these markers denote a slight paradigm shift in daily metrics, Ethereum still maintains an upper hand in the weekly comparison. This emerging trend warrants further observation to decipher potential long-term implications on the digital currency dynamics.

BTC vs Ethereum Fees: (Source: Glassnode)
BTC vs Ethereum Fees: (Source: Glassnode)

The post Bitcoin outstrips Ethereum in daily transaction fees for first time since 2020 appeared first on CryptoSlate.

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