Report: Since entering the bear market, cryptocurrency exchanges have increased transaction costs to ensure revenue expectations and market position

According to a Tradeblock report, Bitcoin trading volume hit a two-year low in March this year, and transaction costs are a potential way to support exchanges. According to the report, in December 2017, Bitcoin historically rose to nearly 20,000 US dollars, and then entered the bear market, each cryptocurrency exchange maintained high transaction costs in order to maintain its position in the falling crypto market. There is no doubt that Bitcoin has lost more than 70%. Since the beginning of April 2019, its price has rebounded, and the transaction cost of Bitcoin has also fluctuated. In 2018 and early 2019, bitcoin prices and transaction volumes fell sharply during the peak period. On average, the exchange increased the cost of both the pending order and the paying order in 2018 and 2019. In the case of declining trading volume, raising transaction costs is in line with expectations that the exchange hopes to secure revenue. The report also pointed out that the cost structure for 2015 and 2016 is quite small, as the value of Bitcoin has just begun to soar. In 2017, trading activity rose to an all-time high, but the exchange kept the average rate unchanged. However, as the volume of transactions continued to decline in 2018 and 2019, the exchange began to raise fees.