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Bitcoin transaction fees are down by over 50% this year
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According to YCharts data, the average transaction fee of Bitcoin (BTC) has dropped from $4.40 to $1.80 this year, a decrease of 57.97%.
This rise may be attributed to a variety of factors. One explanation is that the fast expansion of the Bitcoin Lightning Network, in which transactions are off the blockchain, may have been a catalyst.For perspective, the Bitcoin network charges a fee for each transaction.
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