Bitcoin Miners' Income Increase Post-Halving 2024 Thanks to Runes
Runes-related transactions are expected to provide a significant boost to Bitcoin Miner revenues after the 2024 halving. In less than two months, Runes managed to collect more than 2,500 Bitcoins ($BTC ) through transaction fees, demonstrating rapid development in the decentralized finance (DeFi)-based ecosystem Bitcoins. This amounted to more than $163 million.
Additional transaction fees from protocols like Runes could be a lifesaver for Bitcoin miners following the halving that reduced Bitcoin block rewards from 6.25 BTC to 3.125 BTC.
Dominate Bitcoin Runes on the Blockchain Network
Bitcoin Runes has now become the gold standard for issuing fungible tokens on the world's first blockchain network. Based on transaction distribution, Runes-related transactions accounted for 12.2%, while BRC-20 transactions were only 5%, and Ordinals accounted for 0.6% of total transactions on the Bitcoin network. The remainder, more than 82%, were regular BTC transactions, according to data from Dune as of June 17.
In terms of the number of daily transactions, there were 9,567 transactions related to Runes, compared to 3,938 transactions for BRC-20 and 474 transactions related to Ordinals. Regular Bitcoin transactions were recorded at 64,620.
Since its launch in April 2024, Runes has outperformed the BRC-20 token in terms of on-chain activity.
$BTC
Runes-related transactions are expected to provide a significant boost to Bitcoin Miner revenues after the 2024 halving. In less than two months, Runes managed to collect more than 2,500 Bitcoins ($BTC ) through transaction fees, demonstrating rapid development in the decentralized finance (DeFi)-based ecosystem Bitcoins. This amounted to more than $163 million.
Additional transaction fees from protocols like Runes could be a lifesaver for Bitcoin miners following the halving that reduced Bitcoin block rewards from 6.25 BTC to 3.125 BTC.
Dominate Bitcoin Runes on the Blockchain Network
Bitcoin Runes has now become the gold standard for issuing fungible tokens on the world's first blockchain network. Based on transaction distribution, Runes-related transactions accounted for 12.2%, while BRC-20 transactions were only 5%, and Ordinals accounted for 0.6% of total transactions on the Bitcoin network. The remainder, more than 82%, were regular BTC transactions, according to data from Dune as of June 17.
In terms of the number of daily transactions, there were 9,567 transactions related to Runes, compared to 3,938 transactions for BRC-20 and 474 transactions related to Ordinals. Regular Bitcoin transactions were recorded at 64,620.
Since its launch in April 2024, Runes has outperformed the BRC-20 token in terms of on-chain activity.
$BTC