Mean Transaction Fee (USD)

Mean Transaction Fee (USD)

The "Mean Transaction Fee (USD)" is the average price of these "stamps" over a certain period. It's an average because some letters (transactions) are heavier or need to arrive faster and thus require a more expensive stamp, while others are lighter and can use cheaper stamps.

This average value gives us an idea of how much it costs, on average, to send a transaction on the network. If the average cost is high, it might be that the network is very busy, like the postal service during the holiday season. If the cost is low, it could be a sign that the network is less congested.

Tracking this metric is like checking the postal service's price chart regularly. It's important because, just as people might choose to send an email instead of a physical letter if the stamp is too expensive, cryptocurrency users might look for alternatives if the transaction fees become too high. Therefore, keeping a "Mean Transaction Fee (USD)" accessible is crucial for the health and attraction of more users to the cryptocurrency network.