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BTC - Transaction Fee Rate Avg, Max (Sat/vByte)

Description

The Bitcoin Transaction Fee Rate Range shows the range of transaction fee rates in Satoshis per vByte (Sat/vB). Averaged minimum values are shown alongside ceiling maximum values .

Bitcoin's USD Market Price is included for reference.

Pseudocode

for each block in blockchain:
   min.y := min(block.tx[].feerate)
   max.y := max(block.tx[].feerate)
  (x,y1,y2) := (block.time, min.y, max.y)

for each hour in blockchain:
  hr_txfeerate_min := avg(blockchain[hr_start:hr_end].min.y)
  hr_txfeerate_max := max(blockchain[hr_start:hr_end].max.y)
  (x,y1,y2) := (hour, hr_txfeerate_min, hr_txfeerate_max)

for each day in blockchain:
  day_txfeerate_min := avg(blockchain[day_start:day_end].min.y)
  day_txfeerate_max := max(blockchain[day_start:day_end].max.y)
  (x,y1,y2) := (day, day_txfeerate_min, day_txfeerate_max)

Technical Info

Transaction fee rate range indicates the min and max Satoshis/vByte paid per transaction within the timeframe. Since segwit was introduced, even during times of high network activity and demand, the fees per transaction and fee rates have been significantly reduced. While segwit and lower fees are good for users, miners' profitability pays the price.

Transaction fee rate indicates the demand level for making transactions. Users with urgency can pay higher fee rates to convince miners to include their transactions before others with lower fee rates.

Hourly and daily data grouping is done using average for this metric's minimum series.
Hourly and daily data grouping is done using max for this metric's maximum series.
Hourly and daily aggregations are derived from block data.

The groupings are chosen to help show the spread between minimum and maximum fee rates per transaction. If the metric's minimum value used an absolute minimum function rather than average, most values quickly move to zero. The more aggregation in a timeframe (zoomed out), the more likely there is a zero-fee transaction within that group. The daily fee rate true minimum is almost always zero, and not currently planned on being charted.

Hourly data contains occasional gaps; no blocks were generated during these times.

Related Metrics

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