Runes Transactions Make $117 Million in Bitcoin Network Fees After Bitcoin Halving
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After the halving of Bitcoin, Runes transactions have so far made $117 million in the accumulated revenue made from the network fees of Bitcoin. And Runes transaction made about $64.4 million on the day of Bitcoin halving.
But recently, there has been a massive plunge in Runes transactions, and on the 28th of April 2024, Runes transaction were about $1.03 million. On the 20th of April 2024, which was the day of Bitcoin halving - Runes transaction fees for the BTC network saw a remarkable surge, and this was as a result of the Runes protocol.
On the 20th of April 2024, Runes contributed about 57.7% of the revenue fees on Bitcoin. Bitcoin's financial transactions was second, contributing about 41.5% of the revenues on the network.
Ordinals came third, with a contribution of 0.5% to the fee revenues. And BRC-20 was forth place with a revenue fee contribution of 0.2%. Although, Runes transaction fees revenue has since been plunging, crypto experts still suggest that Runes will keep on attracting more investors to Bitcoin network.