Glassnode: Bitcoin's daily average transaction fees have quadrupled since October 2023

Odaily News Ethereum had higher transaction fees than Bitcoin before the Bitcoin halving and for most of 2024. However, before the halving, on the day of the halving, and in the days after, Bitcoin’s fees exceeded Ethereum’s. According to Glassnode data, fees on the two blockchains have been almost equal since April 29; and on May 12, Ethereum generated $2.8 million in fees (7-day MA), the lowest fee level since October 2023, when Ethereum was around $1,800, and the current price is just under $3,000. In addition, Bitcoin’s current average daily fees are about four times higher than in October 2023 (around $500,000), reaching $2 million. (CryptoSlate)