Bitcoin and Ethereum Transaction Fees Plummet: A 90% Decrease Year-on-Year

Bitcoin and Ethereum transaction fees have dramatically decreased, dropping over 90% year-on-year. Currently, Bitcoin fees average around $0.913 per transaction, while Ethereum fees have fallen to approximately $0.31. Meanwhile, Binance has announced mandatory KYC re-verification for all users in India to comply with local regulations, enhancing security and accountability in the crypto exchange space.

In a significant development for cryptocurrency users, transaction fees for Bitcoin and Ethereum have plummeted by over 90% compared to 2024. This reduction in operational costs reflects a notable adjustment in the market, benefiting users of these leading blockchain platforms.

Historically, on April 18, 2024, the average Bitcoin transaction fee was around $16.16, influenced by the mining of block 840,000. Currently, as of April 18, 2025, fees have dropped to approximately 5.1 satoshis per virtual byte (sat/vB), translating to about $0.913 per transaction. For faster processing, a premium fee of 3 sat/vB ensures inclusion in the next block, costing around $0.35.

The Bitcoin mempool shows a drastic decrease in unconfirmed transactions, now at about 21,118 compared to 248,000 a year prior. Similarly, the Ethereum network has seen its fees decrease significantly, from $4.03 in April 2024 to about $0.31, equating to 0.00019 ETH. Current transaction costs have fallen below 1 gwei, with priority transfers costing approximately $0.01 and confirmation times averaging 30 seconds.

Specific fees on Ethereum include token swapping at approximately $0.22, NFT sales near $0.37, and borrowing costs around $0.37. In contrast, last year, a high-priority ETH transfer was around $1.16, while swapping tokens reached about $20.73 and NFT transactions were as high as $35.03, underscoring the drastic shift in cost-effective transactions.

In regulatory news, Binance has initiated a comprehensive compliance protocol in India, mandating all users undergo KYC re-verification. This policy aims to tighten security and align with Indian anti-money laundering (AML) laws, reinforcing user accountability.

Binance stated that all users in India, irrespective of their registration dates, must complete KYC re-verification. This move is part of an effort to enhance security and comply with evolving regulations. Users can expect that only essential data will be collected and managed securely to prevent financial crime.

The compliance update highlights Binance’s commitment to regulatory compliance within Indian authorities. This includes obtaining users’ Permanent Account Number (PAN) details under AML requirements. The exchange clarified that these measures are not exclusive to them but part of a wider regulatory condition applicable to all registered crypto platforms in India.

As the regulatory landscape continues to transform, Binance’s initiatives may set a precedent for compliance across the Indian crypto market, ensuring safer transactions.