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Bitcoin transaction fees hit an 11-month high in one day, with 35,478 transactions unconfirmed online

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On May 21, the transaction fee accumulated to 196.93 BTC COINS

BlockBeats news, after bitcoin halved, the computing power has dropped significantly. As of press time, the current computing power of the whole network is 94.51EH/s. The exodus of miners and miners from the mine has created new problems: the number of unconfirmed transactions has risen and bitcoin transaction fees have soared.

According to data from OKLink, the transaction fee of bitcoin has reached 196.93 BTC on May 21, which is the highest since June 2019. At present, there are 35,478 unconfirmed transactions on the whole network, and the bitcoin network is in a state of congestion. If this situation continues, it will further push up the transaction procedure fee.At present, China's flood season has not yet arrived, which has affected the normal operation of local mines to a certain extent, resulting in the failure of some computing power recovery. In addition, as previously reported by pulse, BitMEX was down again on May 19. It is not excluded that some users are worried about their assets and choose to withdraw their money to leave, further causing network congestion.

As for the phenomenon of congestion on the bitcoin network, bitcoin economists point out that there may be new "profit incentives" to attract miners.