Users paid 37.6256 $BTC (around $2.4 million at the time of writing) in fees to include 3050 transactions in the halving block of Bitcoin #840,000.
Against the backdrop of halving, fees in the network of the first cryptocurrency soared to $203 on average.
An unknown user paid a fee of 6.7 BTC (~$430,500). This caught the attention of specialists from the Whale Alert analytical service.
Another user's transaction in the halving block of Bitcoin cost almost 8 BTC (~$511,500).
At the time of writing, the situation has improved. The average transaction fee in the Bitcoin blockchain is $43.
Journalist Colin Wu linked the rise in fees to the launch of Runes. The protocol will allow the issuance of interchangeable tokens on the blockchain of the first cryptocurrency, but unlike BRC-20, using the UTXO model, which will prevent network congestion.
Bitcoin developer and creator of Ordinals, Casey Rodarmor, introduced Runes in September 2023. According to him, the protocol "is designed for degenerate coins and meme tokens, but it is simple, efficient, and secure."
Earlier, the average transaction fee size in the Bitcoin network (7DMA) exceeded $16. Specialists explained this by user activity in anticipation of the launch of Runes.
On April 19, an unknown wallet sent 1.34 BTC (~$87,000 at the time of the transaction), paying a fee of 17,500