Crypto Fees Ride Low: Onchain Bitcoin and Ethereum Costs Dip Below $2

Crypto Fees Ride Low: Onchain Bitcoin and Ethereum Costs Dip Below $2

January 2025 Kickoff: Bitcoin Fees Drop to $1.40, Ethereum Stays Modest

Over the past 30 days, Bitcoin and Ethereum network fees have remained relatively low, even as the cryptocurrency market experienced a price uptick. During the first week of 2025, the average transaction fee on the Bitcoin network stood at $1.40. In comparison, Ethereum onchain fees were slightly lower during the first six days of January, reflecting a similar trend.

Bitcoin Network Fees

Fees directed to miners and validators on the Bitcoin network have started the year at an average of 0.000013 BTC per transaction, equivalent to $1.34. This translates to roughly 5 satoshis per virtual byte, representing a significant drop from the monthly average of $3.085 recorded between Dec. 7, 2024, and Jan. 5, 2025. The peak fee in this period reached $5.927 on Dec. 2, 2024, while the lowest, aside from Jan. 6, 2025, was $1.431 on Nov. 17, 2024. As of now, the Bitcoin network’s backlog of unconfirmed transactions has increased slightly to 189,794, yet the median fee remains at a modest $0.57 per transfer.

Ethereum Network Fees

Ethereum transaction fees have consistently been lower than Bitcoin’s. The 30-day average fee was $1.093 per transaction. Over the first five days of 2025, this figure edged up slightly to $1.104. The highest fee in the past 30 days was $1.606 on Dec. 9, 2024, while the lowest was $0.7158 on Nov. 29, 2024. As of Jan. 6, 2025, Ethereum’s average fee is 19.76 gwei, translating to $1.88 per transaction.

However, these figures only account for basic ether transfers. Decentralized exchange (DEX) swaps on Ethereum currently average $27.97 per transaction. Onchain NFT sales incur fees of approximately $47.26 per sale, and bridging costs hover around $8.99.

Conclusion

Both Bitcoin and Ethereum have started 2025 with notably low transaction fees, offering cost-effective opportunities for onchain transactions. While these fees remain manageable for standard transfers, users engaging in more complex operations, such as NFT sales or DEX swaps, should anticipate higher costs. As the blockchain ecosystem evolves, monitoring these trends will remain crucial for efficient cryptocurrency usage.