Today in Cryptocurrencies: Which Developments Stand Out?

Bitcoin's blockchain bandwidth usage exceeded 90 percent for the first time since the 2024 halving. LayerZero's token launch sparked controversy over the donation requirement required to claim the tokens. Meanwhile, the Winklevoss brothers supported Trump, and this surprised no one.

Bitcoin's blockchain bandwidth usage has surpassed 90% for the first time since the halving event in April, marking a significant increase in network activity.

Dune Analytics user Cryptokoryo's chart shows BTC's 91.4 percent dominance in transaction share on June 20, when it was replaced by 6.8 percent for Runes, 1.6 percent for BRC-20, and 0.2 percent for Ordinals. It shows the moment. The increase in bandwidth usage following the halving can be primarily attributed to the adoption of new token standards, including Runes and BRC-20.

Dune Analytics data shows a significant increase in transactions involving both token standards, particularly on April 23, when Runes transactions exceeded 750,000.

LayerZero’s token, #LayerZero (ZRO), has fallen 17 percent since its launch amid controversy over the donation criteria for claiming tokens, which some have likened to a “tax.”

Some disagree with the criticisms and think the mechanism could be a good step towards resolving the issues that have plagued recent token airdrops. Following its launch on June 20, ZRO rose 15.15 percent to $4.71 in just 20 minutes, before falling 22 percent within two hours.

Accompanied by these developments, the launch of ZRO brought about a unique debate. LayerZero did this in a way that required users who wanted to claim the tokens to donate a small amount of money per #ZRO token.

LayerZero estimated that donations would total approximately $18.5 million to the Protocol Guild, a collective funding mechanism for #Ethereum (ETH) developers.