With the substantial increase in ordinal transactions transaction fees paid to miners exploded this Sunday, leading to approximately 32% of mining revenue coming from fees. This type of pattern is atypical for bear markets, although it is common for bull market tops, something we are not seeing today. This is a reflection of the increased use of the taproor update to insert NFTs and the BRC-20 token into the Bitcoin blockchain. Something negative for individuals who intend to make common transactions, but positive for revenue and economic incentives in the mining activity. This has been changing other on-chain metrics as well, such as the number of active addresses and the number of transactions, both with significant increases.
Written by caueconomy
