One week before the halving, the Bitcoin network is faced with another wave of hot demand, with some coming from a now familiar source: Ordinals traders.shows that Bitcoin users are paying over 90 sats/vByte of block space, placing the average cost of a transaction at $8.50 apiece., which tallied over 162,000 on Thursday compared to a monthly average of 90,280. Meanwhile, the “daily inscription fee spend” reached $1.24 million, its highest level in the past month.
It’s not just the halving, either: on April 19, the “Runes” protocol will be activated – a new token standard on Bitcoin invented by Ordinals creator Casey Rodamor. Much like“Runes launch at Bitcoin halving will begin memecoins on Bitcoin season,” tweeted TrustMachines CEO Muneeb Ali on Monday. “As L1 breaks with insane fees and activity, all roads lead to Bitcoin L2s.
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