Bitcoin and Ethereum slow down as transaction values and fees plunge 70% By Cointelegraph

2021-03-04 12:00:00

Bitcoin and Ethereum slow down as transaction values and fees plunge 70%

(BTC) and Ether (ETH) appear to be experiencing something of a slowdown, as on-chain data shows a dramatic decrease in the U.S dollar value of coins being sent across both blockchains in the past week. At the same time, transaction fees for both chains have receded from recent highs, or in Ethereum’s case, an all-time high.

Data from Bitinfocharts shows $46.68 billion worth of BTC was sent across the Bitcoin blockchain on Feb. 25. For some context, that’s around 5% of the total Bitcoin market cap, which stands at $925 billion at time of writing.

Bitcoin sent in U.S. dollars. Source: Bitinfocharts.com
Bitcoin average transaction fee. Source: Bitinfocharts.com
Ether sent in U.S. dollars. Source: Bitinfocharts.com
average transaction fee. Source: Bitinfocharts.com