Data: The Bitcoin network settled an average of 95,000 US dollars in transaction fees for every US dollar in the past week

According to reports, in the past week, the Bitcoin network has transferred or settled a value of US$95,142 for every US$1 in transaction fees charged. According to the analysis by on-chain analyst Dylan LeClair by dividing the average transaction volume by the fee, the final settlement cost only accounts for 0.00105% of the total transfer value of US$451.3 billion. According to CryptoFees, Bitcoin ranks seventh in the list of networks sorted by daily transaction fees. Its 7-day average is about $678,000, lagging behind Ethereum, Uniswap, BinanceSmartChain, SushiSwap, Aave, and Compound. According to the report, Ethereum currently processes $53 million in fees per day, 98.7% more than the Bitcoin network. The average transaction volume of Ethereum divided by the fee results in a transaction value of only $139 per dollar fee. The current average transaction fee on the Bitcoin network is approximately $2.13. In contrast, the average cost of the Ethereum network is as high as $42.58.