News about Bitcoin transaction fees being the lowest since the beginning of 2022
Bitcoin transaction fees have dropped sharply, affecting miners' profits
On June 19, according to international reports, Bitcoin (BTC) transaction fees accounted for only 0.96% of the block reward. This is the lowest level since January 2022. Although BTC prices have surpassed $100,000, on-chain trading activity has clearly decreased.
This leads to a decrease in miners' income. On average, transaction fees are currently only about $1.45, significantly lower than previous peaks. Operators still struggle to maintain profitability as fees and hash prices continuously decline. Some cryptocurrency mining companies are forced to sell BTC to sustain their business.
The impact of low transaction fees on the Bitcoin mining industry
The BTC mining market is facing significant challenges. Low transaction fees diminish the significance of the block reward algorithm, making it difficult for miners to maintain operations in the long term. A decrease in hash prices means increasingly fierce mining competition, requiring higher energy consumption and capital investment.
Mining companies need to consider strategies to optimize profitability. Selling BTC, especially in the context of high prices, is currently a temporary measure to cope with financial pressure. The cryptocurrency market is witnessing a challenging phase, but it also opens up opportunities for investors to better understand the mining industry.
Predictions for the future of Bitcoin transaction fees and the mining industry
In the near future, transaction fees are expected to continue fluctuating according to user activity trends and the development of the cryptocurrency ecosystem. Experts predict that if BTC network usage increases again, fees will recover, helping miners improve their income and maintain operations.
However, facing market fluctuations and changes in block reward policies, the mining industry still faces challenges in profitability. Investors and mining businesses need to be prepared with adaptive plans to seize opportunities in this volatile environment.
Source: https://tintucbitcoin.com/chi-phi-bitcoin-giam-duoi-1-mo-co-hoi/
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