Bitcoin network settling an average of $95K for every $1 in fees
The Bitcoin network’s value settlement efficiency has been improving steadily recently, with more being settled for lower fees.
Over the past week, the Bitcoin network has transferred or settled an average of $95,142 of value for every $1 worth of fees.
The on-chain settlement efficiency has been gradually increasing since May as more has been moved around the network during the bull cycle.
On-chain analyst Dylan LeClair made the observation using data from analytics provider Glassnode. The value is derived by dividing the mean transaction volume by the fees.
Over the last seven days the #Bitcoin Network transferred an average $95,142 of value for every $1 worth of fees.The median transaction saw $751 of value transferred for every $1 worth of
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