Data: Bitcoin transfer costs fell to $38.69 on July 7, the lowest in four years

ChainCatcher news, according to Cointelegraph, the average fee for a Bitcoin transaction fell to $38.69 on July 7, the lowest since 2020.

Additionally, according to data from Ycharts, on July 7, Bitcoin miners processed 673,752 transactions through the Bitcoin network. BTC accounted for 89.7% of the transaction volume, with the remainder being Ordinals (0.7%), BRC-20 (4.1%), and Runes (5.4%). The revenue for Bitcoin miners that day accounted for 1.14% of the transaction volume, which is the average share over the past six months. Despite the lower average transaction costs, miners still benefited from the reduced network difficulty, allowing them to process transactions with relatively small computing power.