After the Bitcoin halving on April 20, which marked the Runes token’s debut, its usage has significantly increased, accounting for approximately two-thirds (68%) of all Bitcoin transactions.
Based on data from Crypto Koryo’s Dune Analytics platform, approximately 2.38 million Runes transactions have been completed. The most transactions occurred on April 23, with a total of 750,000. However, there was a significant decrease in transactions the following day, with only 312,000 recorded.
At first, transactions involving memes and NFTs using Runes accounted for almost three-quarters of miner fees on the day of halving. Subsequently, this figure varied between 33% and 69%. Nevertheless, there are doubts about the longevity of Runes for miners due to observed disparities between transaction volumes and mining rewards.
Although Runes have gained popularity quickly, there are still unanswered concerns about their effects on Bitcoin’s environment in the long run. Specifically, there is debate over how they influence miner rewards and Bitcoin’s capacity to handle larger transactions volumes.
Read More
- CRK Boss Rush guide – Best cookies for each stage of the event
- Glenn Greenwald Sex Tape Leak: Journalist Cites “Maliciously Political” Motives
- Fortress Saga tier list – Ranking every hero
- Grimguard Tactics tier list – Ranking the main classes
- Castle Duels tier list – Best Legendary and Epic cards
- Mini Heroes Magic Throne tier list
- How to Prepare and Dominate the Awakened Hollyberry Cookie Update
- Seven Deadly Sins Idle tier list and a reroll guide
- Starseed Asnia Trigger tier list and a reroll guide
- AOC 25G42E Gaming Monitor – Our Review
2024-04-25 10:29