Bitcoin Network Fees Surge 51%, Reached $6.43 Million as Price Breaks New Record

Bitcoin transaction fees are skyrocketing, surging over 50% to reach a staggering $6.43 million this week. This surge aligns with Bitcoin hitting a new all-time high of over $110,000 on May 23rd, according to blockchain analytics firm Sentora (formerly IntoTheBlock). Experts attribute this spike in fees to heightened market activity triggered by the surging price and increasing institutional interest.