比特币交易费用跌至四年低点 38.69 美元

比特币网络上的交易费用成本主要由两个主要因素决定：矿工的收入和处理的交易总数。

The cost of transaction fees on the Bitcoin network is primarily determined by two major factors: miners’ revenue and the total number of transactions processed.

比特币网络上的交易费用成本主要由两个主要因素决定：矿工的收入和处理的交易总数。

Bitcoin transaction fees have dropped to their lowest level in four years. As of July 7, the average fee per Bitcoin transaction stood at $38.69, a figure last seen during the height of the COVID-19 pandemic in 2020.

比特币交易费用已降至四年来的最低水平。截至 7 月 7 日，每笔比特币交易的平均费用为 38.69 美元，这一数字上次出现是在 2020 年 COVID-19 大流行最严重的时期。

The COVID-19 pandemic led to a surge in the popularity of Bitcoin as investors sought alternative assets amidst global economic uncertainty. This surge in demand resulted in a significant increase in Bitcoin transactions, which drove up transaction fees.

随着投资者在全球经济不确定的情况下寻求替代资产，COVID-19 大流行导致比特币的受欢迎程度激增。需求激增导致比特币交易量大幅增加，从而推高了交易费用。

During this period, users had to pay higher costs to ensure their transactions were processed without delay. However, this trend has changed recently, with transaction costs dropping to $38.69.

在此期间，用户必须支付更高的成本才能确保交易得到及时处理。然而，这一趋势最近发生了变化，交易成本降至 38.69 美元。

Factors Influencing Transaction Fees

影响交易费用的因素

The cost of transaction fees on the Bitcoin network is primarily determined by two major factors: miners’ revenue and the total number of transactions processed. According to data from Ycharts on July 7, Bitcoin miners processed a total of 673,752 transactions on the Bitcoin network, with 89.7% of the transactions involving Bitcoin (BTC). This high volume helped reduce transaction costs on the Bitcoin network.

比特币网络上的交易费用成本主要由两个主要因素决定：矿工的收入和处理的交易总数。 Ycharts 7 月 7 日的数据显示，比特币矿工在比特币网络上总共处理了 673,752 笔交易，其中 89.7% 的交易涉及比特币（BTC）。这种高交易量有助于降低比特币网络的交易成本。

The remaining bandwidth was utilized by other blockchain protocols within the Bitcoin ecosystem, including Ordinals (0.7%), BRC-20 (4.1%), and Runes (5.4%).

剩余带宽被比特币生态系统内的其他区块链协议利用，包括 Ordinals (0.7%)、BRC-20 (4.1%) 和 Runes (5.4%)。

In terms of mining rewards, Bitcoin miners received 1.14% of the total transaction volume recorded on July 7, which represents an average share since the beginning of the year in January.

在挖矿奖励方面，比特币矿工获得了 7 月 7 日记录的总交易量的 1.14%，这是自 1 月初以来的平均份额。

Despite the lower average transaction costs, which typically result in reduced revenue, miners were not completely at a loss. They benefited from the lower network difficulty, which allowed them to process transactions with less computational effort.

尽管平均交易成本较低（通常会导致收入减少），但矿商并未完全亏损。他们受益于较低的网络难度，这使他们能够以更少的计算工作来处理交易。

Implications for Traders and Miners

对交易者和矿工的影响

While reduced transaction costs benefit Bitcoin traders by allowing them to pay lower fees to process transactions, miners may face challenges in navigating the current market conditions.

虽然交易成本的降低使比特币交易者能够支付较低的交易费用，从而使他们受益，但矿工在应对当前市场状况时可能面临挑战。

A recent report from market intelligence firm CryptoQuant highlighted that Bitcoin miners may be approaching “capitulation” as profit margins tighten with Bitcoin (BTC) falling back to the $50,000-$55,000 range.

市场情报公司 CryptoQuant 最近的一份报告强调，随着比特币 (BTC) 回落至 50,000 美元至 55,000 美元区间，利润率收紧，比特币矿商可能正在接近“投降”。

This situation could lead to companies involved in Bitcoin mining opting to sell their earnings or reduce operational costs to sustain their operations during periods of market uncertainty.

这种情况可能会导致参与比特币挖矿的公司选择出售其收益或降低运营成本，以在市场不确定时期维持运营。

According to the report, several signs of capitulation have emerged over the past month, including a significant decline in Bitcoin’s hashrate.

该报告称，过去一个月出现了一些投降迹象，包括比特币算力大幅下降。

“Bitcoin Miner capitulation mirrors December 2022 levels with a 7.7% hashrate drop, similar to post-FTX collapse conditions. Such declines often signal potential market bottoms,” the report noted, adding that several signs of capitulation have emerged over the past month.

“比特币矿工的投降反映了 2022 年 12 月的水平，算力下降了 7.7%，与 FTX 崩溃后的情况类似。这种下跌往往预示着潜在的市场触底，”报告指出，并补充说，过去一个月出现了一些投降的迹象。

Furthermore, CryptoQuant disclosed that miners have been “extremely underpaid,” a factor that could also contribute to the potential capitulation.

此外，CryptoQuant 透露，矿工的工资“极低”，这也可能导致潜在的投降。