Source: https://ycharts.com/indicators/bitcoin_average_transaction_fee
BTC fees have been a major problem several times in the coin’s history. These days it seems that BTC utilization is down, so fees remain fairly low. Miners need those fees to remain profitable as the block reward keeps halving. If price doesn’t double by the next halving, some miners will be forced to go bankrupt. So keeping blocks full and transactions up is vital to keeping fees high. As of today, the average BTC fee is less than $1 per transaction, while miners’ energy cost is surely more than that. Maybe this is why the Core devs are allowing larger amounts data in BTC transactions via Taproot and removing OP_RETURN limits, as they’ll fill up the blocks and increase fees artificially?
Average fees went to $128.45 in 2024:
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