๐ Exciting News: Runes Transactions Generate $117 Million in Bitcoin Network Fees Post-Halving! ๐ฐ
๐ According to CryptoPotato, Runes transactions have contributed a cumulative $117 million in Bitcoin network fee revenue post-halving.
๐ต $62.4 million was amassed on the day of the halving itself, showcasing the protocol's impact on transaction fees.
๐ However, recent data reveals a significant drop, with Runes transactions only contributing $1.03 million in fees on April 28.
๐ Runes accounted for 57.7% of all Bitcoin network transactions, with financial transactions trailing behind at 41.5%.
๐ On April 20, the day of the halving, Runes transactions caused a notable spike in transaction fees within the Bitcoin network.
๐ On April 21, Runes maintained dominance with 51.6% of total transactions, but by April 22, this dropped to 42.5%.
๐ก Analysts suggest that the increased network load was primarily caused by minting activities related to Runes speculation.
๐ป Runes tokens have captured a significant portion of Bitcoinโs on-chain activity, comprising 45% of all Bitcoin transactions on April 25.
๐ ๏ธ Developed by Casey Rodarmor, Bitcoin Runes enhances the BRC-20 standard, providing more efficient transactions and optimized token creation on the Bitcoin blockchain.