The portion of Bitcoin miner revenue coming from transaction fees has fallen significantly after surging on the day of the last halving event.revealed that transaction fees now represent 35% of total miner revenue, a significant decline from the 75% recorded on April 19., which took place last Friday, slashed miner block rewards by half to 3.125 bitcoins , resulting in daily issuance falling from an average of 900 BTC to 450 BTC.in transaction fees.
Higher transaction fees and rising BTC prices will help miners stay afloat since their block rewards have been cut in half. With fees plummeting by the day and BTCNevertheless, CryptoQuant said it is too early to see any long-term effects of the halving on the network hashrate as miners appear to be running their operations at the same rate before the halving. The Bitcoin network hashrate is at 617 EH/s, while its hashprice is now at $0.07 per TH/s, the lowest since October.
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