The cryptocurrency space has been buzzing this week with BRC-20 tokens' market cap exceeding $500 billion, fueled by the rise of Ordinals earlier this year. CryptoSlate reported an unusual phenomenon: Bitcoin miners receiving more income from transaction fees than block rewards. ...
Quick Take
- This past week has been extremely wild in Bitcoin, with the emergence of BRC-20 tokens surpassing a $500 billion market cap.
- This has added momentum with Ordinals that started at the beginning of the year.
- CryptoSlate reported that miners received more Bitcoin in transaction fees than block rewards.
- However, using Glassnode data, we can see the average fees paid per block has returned to 1.0 Bitcoin per block.
- According to James Check analyst at Glassnode, “The average Bitcoin fee paid per block has only surpassed the block subsidy on five occasions, with the latest event being this week.”
The post Bitcoin mempool starts to clear as fee paid per block falls back to one appeared first on CryptoSlate.