A Bitcoin user paid $3.1 million in fees on a transaction, setting a record for the highest fee ever on the Bitcoin blockchain.
On November 23, 2023 at 9:59 AM UTC, a Bitcoin user accidentally paid a high fee of 85.216 BTC (approximately $3.19 million) in a transaction. This mistake occurred in block 818,087 mined by AntPool.
Bitcoin (BTC) Overtakes Ethereum (ETH) in Daily Transaction Fees for the First Time in Three Years
Bitcoin has surpassed Ethereum in daily cryptocurrency transaction fees for the first time in three years, with daily transaction fees reaching $11.63 million compared to Ethereum's $8.44 million. Ethereum's versatility in supporting various Decentralized Applications (DApps) and smart contracts had previously made it the preferred choice for users engaging in DeFi and NFTs. However, recent developments have seen Bitcoin experience a surge in average transaction fees, reaching $18.69 per transaction on Nov. 16, and outperforming Ethereum in NFT sales. This surge in fees is seen as a positive development for Bitcoin miners, providing a boost to their revenue streams and ensuring the continued viability of the mining ecosystem.
