{"id":4357,"date":"2023-05-05T18:00:48","date_gmt":"2023-05-05T22:00:48","guid":{"rendered":"http:\/\/leadingcryptonews.com\/memecoin-hype-drives-bitcoin-transaction-fees-to-multi-year-highs\/"},"modified":"2023-05-05T18:00:48","modified_gmt":"2023-05-05T22:00:48","slug":"memecoin-hype-drives-bitcoin-transaction-fees-to-multi-year-highs","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/memecoin-hype-drives-bitcoin-transaction-fees-to-multi-year-highs\/","title":{"rendered":"Memecoin hype drives Bitcoin transaction fees to multi-year highs"},"content":{"rendered":"
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Bitcoin transaction fees surged in early May, reaching their highest point over the past two years, according to data from Crypto Fees.<\/p>\n
On May 3, the total amount of fees paid on the Bitcoin blockchain reached $3.5 million, jumping about 400% from late April. The average Bitcoin transaction fee reached as much as $7.2, according to YCharts.<\/p>\n
The ongoing trading frenzy of memecoins like Pepe Coin (PEPE) has triggered an unwanted consequence for Bitcoin (BTC) \u2014 driving its transaction costs to multi-year highs.<\/p>\n