On November 30th, in the past week, the Bitcoin network transferred or settled a value of US$95,142 for every US$1 in transaction fees charged.
According to an analysis by the 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 approximately US$678,000. Behind Ethereum, Uniswap, BinanceSmartChain, SushiSwap, Aave and Compound.
According to the report, Ethereum currently handles $53 million in expenses 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.