Data: The average Bitcoin transaction fee has dropped to its lowest level since 2017.

Golden Finance reports. On April 1, CryptoQuant analyst Darkfost posted that Bitcoin transaction fees have fallen to the lowest level since 2017. Bitcoin transaction fees have long been considered relatively high; during periods of network congestion, some transaction fees can even reach several hundred dollars. But now, the situation is exactly the opposite.
Bitcoin’s average transaction fee has fallen to the lowest level since 2017. The current year’s average fee has dropped to below $0.4, which means transaction costs are at a very low level.
However, the decline in the number of transactions is not as pronounced. On an annual average basis, daily transaction volume is still above 3,000—far from being low. The drop in fees is mainly attributed to the introduction of inscriptions, which to some extent limits the weight that can be included for transactions in each block.
Although this was achieved through a soft fork, it is still an important development for Bitcoin. At the same time, it’s also interesting to compare changes in fees with price trends. Historically, fee peaks usually occur around the top of Bitcoin’s price, while fee troughs often appear during bear-market phases—this is the case right now.