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