Bitcoin mempool starts to clear as fee paid per block falls back to one
quick take
- Bitcoin has been extremely volatile over the past week, with the emergence of the BRC-20 token with a market cap of over $500 billion.
- This added momentum to the Ordinals that started the year.
- crypto slate Miners reported receiving more Bitcoin as transaction fees than block rewards.
- However, using Glassnode data, we can see that the average fee paid per block is back to 1.0 BTC per block.
- Glassnode analyst James Check said:average Bitcoin The fee paid per block has exceeded the block subsidy only five times, the most recent being this week. “
The post-bitcoin memory pool will start clearing as the fee paid per block reverts back to the fee originally seen on CryptoSlate.