Bitcoin records cumulative fees of $6.3 million from the start of the week up to 15 September, marking a 40% weekly growth.
data, the number of unconfirmed transactions in the queue shot up to 527,710 at the time of writing, prompting users to bid up fees to jump the queue.While the surge in fees affected users who wanted low-value transactions to be processed, BTC miners laughed all the way to the bank. As seen from the graph below from CryptoQuant, the number of coins held in miners’ wallets surged to highs not seen since 1 June.
Interestingly, despite the jump in fees, the flow of BTC coins from miners to exchanges has dropped over the week. This implied that miners were hopeful of a further rise in network fees and thus prepared to stockpile for a few more days.
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