Runes-related transactions could extend a significant revenue boost for Bitcoin miners, after the 2024 halving.
Data shows that Bitcoin active addresses have plunged, but the transaction count has been around an all-time high (ATH). Here’s why this may be so. Bitcoin Active Addresses And Transaction Count Have Diverged Recently According to the latest weekly report from Glassnode, the Bitcoin network has been showing a divergence in its activity-related metrics recently. […]
Transactions attributed to the Runes protocol accounted for over 50% of all Bitcoin transactions between April 20 and 24; however, by May 2, this figure had dropped to 11.1%.
Runes launched on April 20, the day of Bitcoin’s fourth halving. Fueled by the hype surrounding the much-anticipated halving, they were introduced to the market with a bang, garnering an incredible amount of attention and activity. Their launch caused quite a stir in the crypto industry, especially in the Bitcoin market, where it sparked a […]
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Runes made a recovery to account for the lion’s share of transactions over the Bitcoin network.
Data suggests the hype around the new Bitcoin Runes has severely dropped, something that’s not a good sign for miner revenues. Bitcoin Halving Effect Settles In On Miner Revenue As Runes Interest Drops A few days back, the much-anticipated Bitcoin Halving went through. Halvings are periodic events coded into the blockchain in which the BTC […]
Launched on the day of the Bitcoin halving, Runes are a form of data embedded directly into Bitcoin transactions. Unlike simple financial transfers, Runes encapsulate additional information within these transactions. Bitcoin Runes operate by utilizing a method known as “transaction augmentation,” which allows users to embed arbitrary data into transaction outputs. Runes can store a […]
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The 2024 halving block has gone down as the most expensive block ever mined in Bitcoin’s history — with users scrambling to inscribe rare assets via the new Runes Protocol.