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Bitcoin Transaction Fees Skyrocketed in April, Reaching Highest Level Since February 2018

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Tue, 04/30/2019 - 11:31
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Contents

Daily transaction fees experienced substantial growth this April, reaching a new yearly high of 153.90 BTC. The market finally stopped playing dead after Bitcoin finally reached the $5,000 mark.

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A gargantuan increase  

April was truly a remarkable month for Bitcoin: the price of the number one currency spiked almost 20 percent on Apr. 2 with no reasonable explanation as to what might have caused this rally. Daily transaction fees remained remarkably steady over the last few months, but this drastically changed in April.

On Apr. 4, the number of total transaction fees paid by Bitcoin users reached its yearly high of 153.90 BTC (~$770,470 at the time of writing). Before that, this sum would fluctuate between 15-30 BTC per day. Yet another spike was recorded on Apr. 24 with 130.67 BTC being forked out in transaction fees in one day.

Must Read
Number of Active Bitcoin Addresses Continues to Grow While BTC Price Remains in Limbo - READ MORE

Bull market vibes?  

Overall, traders paid the highest amount of fees this April since February 2018. The absolute record was set on Dec. 22, 2017, during the peak of the bull market. The daily amount of transaction fees reached a staggering 1,495 BTC ($20.4 mln at that time).

During the peak of the crypto craze, the transaction fees would be so high that one person claimed that he had to pay $16 in order to send $25 worth of BTC.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Gamblers Are Driving Force Behind dApps Growth: 2019 H1 DappReview Report         

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Sun, 07/14/2019 - 15:00
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  • It appears that many cryptocurrency enthusiasts are willing to roll the dice

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Contents

The recently published report by DappReview encompasses everything related to the growth of decentralized applications (dApps) in the first half of 2019. When it comes to the most popular category of dApps, gambling ones appear to be in the lead by a big margin.

Upping the ante

The “Casino” category has the biggest chunk of the pie with 606 newly created dApps. For comparison, there are only 398 gaming dApps, which occupy second spot. “High-risk” dApps are trailing behind the gaming ones with 358 newly created apps.  

DappReview explains that the main reason behind their popularity is that they are relatively cheap and easy to create, but, nonetheless, they generate great returns for their developers. 

On top of that, there doesn’t seem to be a shortage of risk-loving crypto enthusiasts. 

dApps are doing just fine

Overall, the report points out that rapid growth has become a new trend in the dApps department. More than 1,114 dApps have been already created this year. Tron boasts the biggest amount of newly created dApps while Ethereum and EOS come in second and third places respectively.

Notably, only one percent of users tried more than ten dApps, but they are responsible for the lion’s share of the total transactions on each of the aforementioned networks.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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