Bitcoin transaction fee drops & unconfirmed transaction queue shortens

— Bitcoin transaction stress has been on a decline since the first week of June. From 200000+ unconfirmed transactions per day, the transaction queue has diminished to 7000 to 15000 unconfirmed transactions per day.

— With more transactions getting confirmed everyday, Bitcoin transaction fees have also dropped. — In May, average Bitcoin transaction fee was around $5. Now, it has dipped to less than a dollar per transaction.

— Due to this drop in transaction fees, people are having issues with wallets which don’t have a choice of dynamic fee setting.

http://www.cryptoga.com/news/bitcoin-transaction-fee-drops-unconfirmed-transaction-queue-shortens/

MY STANDPOINT

Even 7000 to 15000 unconfirmed transactions are not less, but we’re slowly getting there. If the transactions less become less expensive, it could mean higher volumes of trade and a further spike in the value of bitcoin.

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