November 16, 2023, Bitcoin saw its average transaction fees peak at $18.69 per transfer, marking a high of 0.00051 BTC. This surge represented the second-largest increase in 2023. However, the following day saw a reduction in onchain fees. Despite this, as of 8:13 a.m. ET, there was a considerable backlog of approximately 239,862 unconfirmed transactions.Onchain Fees on Bitcoin Network Soar, Reaching Near-Record HeightsOn the same day, data from bitinfocharts.com and ycharts.com revealed that the Bitcoin network’s average transaction fee was $18.69. The median fee also escalated to 0.00032 BTC or $11.61 per transfer.This increase in transactional activity can be attributed to the renewed interest in Ordinal inscriptions, a trend that persists. According to November 17 statistics from mempool.space, a high-priority BTC transaction incurs a fee of $4.61, while a no-priority transaction costs about $1.64.The mempool is currently dealing with a backlog of 239,862 pending transactions, awaiting miner confirmation... Clearing this congestion requires miners to process 288 blocks or 588 megabytes MB of block space.Data from two distinct sources suggest that Bitcoin’s average block time oscillates between 9 and 10.1 minutes. Notably, the average fee on November 16 is the year’s second-highest, trailing only behind May 8, 2023, when fees averaged around $31 per transaction that day.Moreover, on November 9, 2023 the average fee rose to $15.86 per transfer, marking the third-highest spike since May’s all-time high. Bitcoin’s highest fee run-up before the May 2023 spike was a high of $62 per transfer 940 days ago on April 21, 2021.What do you think about Bitcoin’s network fees on the rise again? Share your thoughts and opinions about this subject in the comments section below.#Bitcoin #ETH #Crypto-Talk #Binance #Blockchain $BTC $ETH $BNB

BNB coin is the native cryptocurrency of the Binance exchange, the world's largest cryptocurrency exchange by trading volume. Let's take a closer look at this article for a better understanding. There are a number of reasons why BNB coin could be a good investment. Here are five reasons:1. Binance is the world's largest cryptocurrency exchange. This gives BNB coin a large user base and a lot of liquidity.2. BNB coin is used to pay transaction fees on the Binance exchange. This gives BNB coin an intrinsic value, as it is always in demand.3. BNB coin can be used to participate in Binance Launchpad. This gives BNB coin holders the opportunity to invest in new cryptocurrencies before they are listed on other exchanges.4. BNB coin is deflationary. The supply of BNB coins is limited, and it is burned periodically. This makes BNB coin a scarce asset, which could increase its value over time.5. BNB coin is supported by a strong team. The Binance team is experienced and well-respected in the cryptocurrency industry.Of course, there are also some risks associated with investing in BNB coins. The cryptocurrency market is volatile, and the price of BNB coins could go down as well as up. Additionally, Binance is a centralized exchange, and it is subject to government regulation.Overall, BNB coin is a well-positioned cryptocurrency with a number of potential benefits. However, it is important to do your own research before investing in any cryptocurrency.Here are some additional things to consider when deciding whether or not $BNB coin is a good investment for you:- Your risk tolerance: Are you comfortable with the volatility of the cryptocurrency market?- Your investment goals: What are you hoping to achieve by investing in BNB coin?- Your time horizon: How long are you willing to hold BNB coin?If you are looking for a cryptocurrency with the potential to grow in value over the long term, BNB coin could be a good investment for you. However, it is important to remember that cryptocurrency investing is risky, and you should only invest money that you can afford to lose.I hope this article was informative.#Binance #Crypto-Talk #BNB #BSC #Bitcoin $BTC $ETH

Bitcoin is solidifying itself as a legitimate investment asset that anyone can invest in. Well, technically not anyone, as some institutions and individuals can only participate in a highly regulated manner. Many think a Bitcoin exchange-traded fund (ETF) could fulfill this purpose.Bitcoin ETFs are pools of assets related to bitcoin that are offered on traditional exchanges by brokerages to be traded as ETFs. This gives traditional investors access to Bitcoin without actually owning any BTC.     Bitcoin ETFs already exist in Canada and the US, helping cryptocurrencies increase their mainstream adoption among investors. Let’s look at what an ETF is and what it could mean for Bitcoin.IntroductionBitcoin (BTC) and the overall cryptocurrency market have come a long way. Not more than a decade ago, this technology was only used by a small community of enthusiasts, when 10,000 BTC could buy you two pizzas. Fast forward a few years, and we’ve seen many entire businesses spring from this industry, countless cryptocurrency projects, the birth of DeFi, and much more. Institutional adoption is also booming — MicroStrategy has converted more than $2 billion of their balance sheet into Bitcoin, and you may soon be able to buy the latest Tesla with your BTC.But what building blocks are still needed before Bitcoin can become a major asset in the global macroeconomic environment? One of these could be that a regulatory framework would help increase exposure to BTC for institutions and mainstream investors. According to some, the best way to do so could be through a Bitcoin ETF.Why is a Bitcoin ETF important?Bitcoin isn’t the easiest asset to handle. Custody, for example, can cause serious headaches for a large institution. After all, Goldman Sachs won’t just plug a hardware wallet into a laptop and transfer $2 billion worth of Bitcoin to it. Large financial institutions don’t operate the way individual investors do — they need a complex regulatory framework and financial plumbing to be able to participate in this space.This is why an ETF can be instrumental in increasing adoption and expanding the potential investor base. It can offer price exposure to participants in the traditional markets without them having to worry about the nitty-gritty of physically owning coins.Apart from Bitcoin, a Bitcoin ETF could hold a basket of assets, including Ethereum, Tesla stock, and gold, thereby providing investors with diversification benefits.A brief overview of Bitcoin ETFsWhen people talk about Bitcoin ETFs, they’re usually referring to ETFs on the US markets. However, ETFs exist on many different markets. For example, the first Bitcoin ETF, the Purpose Bitcoin ETF, was launched on the Canadian stock market and trades on the Toronto Stock Exchange under the ticker BTCC.Still, for a long time, most eyes were on US regulators and whether or not they would allow for a US Bitcoin ETF. Finally, in October 2021, the US Securities and Exchange Commission (SEC) accepted an application to list the ProShares Bitcoin Strategy ETF (BITO) on the NYSE. Historically, most applications were rejected due to volatility, the unregulated nature of the Bitcoin markets, and their apparent liability to market manipulation. While these are valid concerns to some extent, they are probably also applicable to many other financial markets that already have ETFs.Much of the financial plumbing required for Bitcoin to be a legitimate macro asset class was built in the last bear market. If MicroStrategy wanted to buy billions of dollars worth of Bitcoin just a few years ago, it might have been exceedingly difficult to do so. Now, however, both the infrastructure and the liquidity are in place to make such sizable investments possible.This ongoing maturation of the Bitcoin markets likely turned the tides for regulators and eventually gave way to the US Bitcoin ETF we see today.Closing thoughtsBitcoin ETFs let investors in traditional markets gain exposure to Bitcoin in a regulated way and  can lead to greater institutional adoption of cryptocurrency as an asset class. With the building blocks now in place in the US, we can only anticipate how much exposure to BTC investors will allow their portfolios.#BitcoinETF #Bitcoin #BlackRock #Crypto-Talk #crypto $BTC $ETH $XRP

US🇺🇸 SEC approves iShares #Bitcoin spot ETF. $BTC price has been going up. Reuters is reporting SEC is approving the iShares Bitcoin ETF, this is via Benzinga and an actual headline on the terminal. I still want more confirmation but this is second source saying this..More details will come out soon. Stay Tuned#Binance #Crypto-Talk

According to Etherscan data, #Ethereum ($ETH ) gas fees have dropped to their lowest level since October 2022.According to Etherscan data, Ethereum (ETH) gas fees have dropped to their lowest level since October 2022, at 10.4 Gwei. This drop in gas fees can be ascribed to decreased user activity in DeFi applications, non-fungible tokens (NFTs), layer-2 networks and Telegram bots.Weekly trading volumes for #NFTs have reached a two-year low, while Telegram trading bot activity has decreased in October. Heavyweight Ethereum entities such as #Uniswap and MetaMask have also utilized less gas.Furthermore, starting September, Ethereum's deflationary supply has turned inflationary, with an annual inflation rate of 0.44% as the amount of Ethereum burned decreases. The last time Ethereum experienced such a low burn level was September last year, shortly after the Merge upgrade which saw Ethereum shift to proof-of-stake (PoS) and the burning mechanism was implemented. ✋Let us know what you loved about this article, what could be improved, or share any other feedback by#Crypto-Talk #Blockchain