📢 Exclusive on Gate Square — #PROVE Creative Contest# is Now Live!
CandyDrop × Succinct (PROVE) — Trade to share 200,000 PROVE 👉 https://www.gate.com/announcements/article/46469
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🎁 Endless creativity · Rewards keep coming — Post to share 300 PROVE!
📅 Event PeriodAugust 12, 2025, 04:00 – August 17, 2025, 16:00 UTC
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1.Publish original content on Gate Square related to PROVE or the above activities (minimum 100 words; any format: analysis, tutorial, creativ
In recent weeks, there has been a significant shift in the dynamics of the Bitcoin network; While there was a significant decrease in transaction fees, miner revenues in November outpaced the previous month's revenues.
Data analysis on Thursday revealed that the average cost of Bitcoin transaction fees dropped to $5.89, while the median fee was $2.86. This marked a significant drop from fees, which had risen to over $18 per transaction earlier in the month. Despite the lower fees, blockchain usage remained strong, with approximately 347,791 entries processed that day.
The network's activity increased on Saturday last week, with a record number of over 475,000 transactions indicating a strong participation. This high level of usage continued throughout the week and consistently exceeded 300,000 daily transactions.
On Friday, a backlog in the mempool resulted in about 269 block worth of unconfirmed transactions, highlighting the network's congestion issues. Despite this, miners had a profitable month, with their total earnings in November reaching $945 million, surpassing October's $880 million total. Fee income alone approached the peak seen in May, with miners earning over $124 million. #ContentStar# #GatePost#