Categories: MarketsMenafn

Bitcoin Transaction Fees Dip Post-Halving

Since the halving event, Bitcoin transaction fees have significantly dropped, signaling a notable shift. Additionally, the floor price for the Runes NFT collection has declined, impacting its role in maintaining fee revenue post-halving. This trend suggests reevaluating strategies within the crypto ecosystem as stakeholders remain optimistic over a bullish season. 

Bitcoin Transaction Fees and Runestone NFT Collection Witness Dramatic Drop

Bitcoin’s week kicked off with stability, holding above the $65,800 mark, coinciding with a noticeable drop in transaction fees post-halving. Analysis of on-chain data indicates that medium-priority transactions command a fee of $8.48, while high-priority transactions are priced at $9.32.

However, immediately after the halving, fees skyrocketed, surpassing $146 for medium-priority transactions and $170 for high-priority ones. Following the halving, the Hashprice index, a key metric for miners’ earnings per hash, plummeted from $182.98 per hash/day to $81.

Despite expectations of reduced revenue for miners, the Runes protocol was launched at the halving to counteract this decline by stimulating on-chain activity by creating fungible tokens on the Bitcoin network. Unexpectedly, the Runestone NFT collection’s floor prices saw a drop of nearly 50% post-halving. In contrast, other collections like Bitcoin Pullets and NodeMonkes experienced price increases.

While these collections generate significant transaction fees, they do not serve as the anticipated revenue source like Runes. This dynamic shift in the market underscores the challenges of navigating the crypto space amidst introducing new protocols and market trends.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

Blenix Technology Launches Revolutionary Blockchain Ecosystem with BLX Token Presale

London, UK, 29th May 2025, ZEX PR WIRE, Blenix Technology, a global leader in innovative digital…

2 days ago

SX Bet Bets Big on Berachain: Bringing Web3 Sports Betting to Bera

Toronto, Canada, 29th May 2025, ZEX PR WIRE, SX Bet has officially launched on Berachain,…

2 days ago

Jessica Contreras Aims to Spark Tucson’s AI Revolution

Tucson, Arizona, 28th May 2025, ZEX PR WIRE, QUICK LOOK: Tucson native Jessica Contreras is turning her…

3 days ago

VEEPEEN Launches with Viral Momentum, Crosses 3,000 Holders Amid VEEPEEN Meme Surge

Perth, Australia, 28th May 2025, ZEX PR WIRE, The crypto world has a new viral…

3 days ago

Franck Muller Unveils Groundbreaking Collaboration with Solana: A Fusion of Swiss Craftsmanship and Blockchain Innovation

New York, May 23, 2025, At Solana Accelerate, Erol Baliyan, CEO of Franck Muller Middle…

1 week ago

Pepe Heimer Introduces AI-powered Yield Optimization and Launches PEHEM Token Presale

New York, USA, 23rd May 2025, ZEX PR WIRE, Pepe Heimer, a new memecoin merging…

1 week ago