BTC Transaction Fee Shoots 120x Amid Bitcoin Staking Frenzy on Babylon

Quick Summary:

On Thursday, the Bitcoin transaction fee shot up by a staggering 120x all the way to 60 BTC triggered by the Bitcoin staking frenzy on the Babylon platform.

However, the fees soon resumed normalcy thereafter in some hours after the staking process ended.

Now that the staking period has ended, both transaction fees and activity have returned to normal levels.

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Article Details

Author / Journalist: Bhushan Akolkar

Category: Crypto

Markets: India

Topics: BTC staking Bitcoin News Babylon Labs 24/7 Cryptocurrency News Bitcoin fees Bitcoin staking

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-23 @ 05:30:01 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 508 words

Reading Time: 3 minutes read

Sentences: 46 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22224884

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 25 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 8 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #59

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