Fees for Bitcoin transactions jumped 750 percent in the second quarter of 2021.

Cryptocurrencies became a lucrative business a few years ago, but bitcoin still dominates the market, which means that investments in it are at high levels, which in turn entails a situation where transaction fees are also higher than ever in history.

Fees for Bitcoin transactions jumped 750 percent in the second quarter of 2021.

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In fact, in the second quarter of this year, only 416.6 million US dollars were earned from fees, according to Wette.de. For example, in the same period last year, they were at $ 48.5 million, which in turn means that this is an annual growth of 750 percent!

But it should be fair to say that transactions in the second quarter of this year reached 527.1 billion dollars, and in the past 120.2 billion, which is more than fourfold growth. When we look at the American market, which became the most profitable after China's ban, the median fee was $ 14.64 compared to last year's $ 1.24.

In addition, there were 18.75 million active addresses per day globally, slightly more than last year’s 18.42 million. They are an extremely interesting indicator of activity. First of all, it should be said that these addresses are something like bank accounts, but they are much easier to open, more secure, and it is more difficult to track their activity, even by those who specialize in tracking bitcoin activity.

Throughout the first half of the year, an average of 488,206 were created per day. In total, 88,365,209 were created in the first six months of 2021.

But, something like that should primarily be attributed to the activities through the first quarter, that is, the first three months of this year. Then cryptocurrencies broke records and brought exceptional profits to everyone involved in their trading, only to collapse around March. This can also be seen in terms of activity, because in January an average of 551,132 new addresses were opened every day, in February slightly less - 550,800.

By: Amber V. - Zexron