Bitcoin and Ethereum transaction fees plummet to lowest level in 7 months

On June 23, the average Bitcoin transaction fee reached $1.93 per transaction, its lowest level since October 2023. The low fees on the Bitcoin network are a sign of lower network activity and less competition.

On the other hand, Ethereum gas fees have also reached a new low, with gas prices reaching as low as 1 gwei, which is the lowest in years.

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