Quick Take
As the Bitcoin halving draws near, Bitcoin activity is witnessing a significant uptick in fees and hash rate.
Fees
On April 12, Bitcoin recorded its highest one-day fees in 2024, reaching an impressive $11 million. CryptoSlate reported on April 10 that this fee surge had gradually increased since early April.
Interestingly, Bitcoin and Ethereum fees are starting to converge, with a difference of just $190k on April 14. Ethereum fees on April 14 hit $5 million, the lowest amount since Feb. 5.
Hash Rate
Moreover, Bitcoin’s hash rate continues to trend higher, with a 4% increase in April, reaching an all-time high of 625 eh/s using a 14-day moving average. This continued growth in hash rate is partly due to the Bitcoin halving, which is just days away.
The post Bitcoin sees record fees in 2024 as halving approaches appeared first on CryptoSlate.
