Bitcoin miners have earned less than 2 Bitcoin combined from Runes transactions over the last six straight days — an enormous drop from its record 884 Bitcoin on April 24.
Runes, a new token standard on the Bitcoin blockchain, has seen its daily average transaction count plummet over 88% from its highest point this month. Daily Runes transactions averaged out at 37,820 between June 22-28, marking a near-90% fall from the 331,040 daily average seen between June 9-15,BTC Runes have contributed less than 2 Bitcoin in miner fees over the last six straight days — marking an enormous drop from itsFees from Ordinals inscriptions and BRC-20 tokens have been even lower over the same timeframe.Fees from these Runes and Ordinals managed to cover the 50% reduction in block subsidy for the next few days after the April 20 halving event — but since then, trading volumes have largely been unpredictable.
The drop in network fees and Bitcoin’s price has caused Bitcoin’s hash price — a crucial metric measuring miner revenue — to
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