Study shows that Dogecoin, XRP recorded the largest network fee increases last year - Technology
Study shows that Dogecoin, XRP recorded the largest network fee increases last year - Technology
Dogecoin, xrp , Blackcoin has been the highest increase in transfer fees for 12 months
Last yeardigital currencies recorded significant growth in terms of value and onchain data. The average transaction fees for cryptocurrencies in 2021 have also changed significantly. A study published by Forexsuggest.com emphasizes 15 different crypto-assets to compare the average fees and growth over 12 months. Some of the selected assets were relatively unknown and older cryptos such as Feathercoin (FTC) and Blackcoin (BLK).
According to the researchers, Dogecoin (Doge) recorded the largest increase in fees of the year and rose by $ 4.230 % per transfer to $ 0.433 per transfer. XRP ( xrp ) experienced the second largest increase in 12 months with a jump from 3,810 % from $ 0.00649 per transfer.
The third largest increase in the past 12 months was Blackcoin (BLK), whereby the transfer fees rose by $ 0.00000442 to $ 0.0000878 per transaction. The most expensive transaction fees were found in Ethereum ( eth ) network and eth was also the fourth largest winner with regard to 12-month fee increases.
ETH The transfer fees rose by $ 1.459 % from $ $ 52.45 per transaction. The fifth largest fee jump came from the ZCash (ZEC) network, since the ZEC fees rose by 806 % in 12 months. The ZEC fees were around $ 0.00000406 on January 1, 2021 and at the end of the year the ZEC transfer fees were $ 0.0000368
Feathercoin, Monero, Bitcoin fees fall
The study by Forexsuggest.com shows three crypto-assets in which the 12-month network fee has dropped. Feathercoin (FTC) recorded a decline in the transfer fees by 51 % and Monero ( xmr ) by 29%. Bitcoin ( bitcoin ) fees fell by 26 %.
The transfer fees of FTC were $ 0.000194 on January 1, 2021 and at the end of the 12-month cycle, the FTC fees were $ 0.0000955. The transfer fees of Bitcoin were at the beginning of the 12-month period and at the end of 5.55 USD per transaction, as the data show bitcoin amounted to $ 4.09 per transfer. The researchers of the study used dates from Ycharts.com and Bitifocharts.com and collected the metrics on the 1st day of every month.
cryptocurrencies that offer transaction fees that are approximately one US cent or less, include dash ( bindestrich ) $ 0.0173, Bitcoin-Bar money ( bch ) $ 0.00851, XRP ( xrp ) 0.00649 $, Bitcoin Gold (BTG) 0.00545 $ and Ethereum Classic ( etc ) $ 0.0039.
below the $ 52.45 per transaction fee from Ethereum were Bitcoin fees, followed by Binance Coin ( bnb ) $ 0.562 per transfer regarding the most expensive transfer fees. Litecoin ( ltc ) fees, which were recorded at the end of last year, were around $ 0.0278 per transaction.
What do you think of the increases of crypto transfer fees last year? Share your opinion on this topic in the comment area below.
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