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<a href="https://bitcoinworld.co.in/bitcoin-btc-generated-24-time-more-fees-compared-to-ethereum/" title="Bitcoin (BTC) Generated 24 Time More Fees Compared to Ethereum" rel="noopener noreferrer nofollow"></a>
On Apr. 20, Bitcoin (BTC) generated a staggering $78.3 million worth of fees compared to Ethereum (ETH).&nbsp;
For comparison, Ethereum comes in a distant second place with $3.2 million.&nbsp;
The massive uptick came after the creators of Ordinals launched Bitcoin Runes following the halving event. The protocol makes it possible to create fungible tokens atop the leading blockchain.&nbsp;
Lucas Outumuro <a href="https://twitter.com/LucasOutumuro/status/1782089893327388711" rel="noopener noreferrer nofollow">described</a> the launch of Runes, as “absolutely insane.”&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The launch of Runes on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> has been absolutely insane
 A quick thread diving into the record-breaking onchain metrics
 1/7 Daily fees set an all-time high of over $80M <a href="https://t.co/JImTxhTczP" rel="noopener noreferrer nofollow">pic.twitter.com/JImTxhTczP</a>
 — Lucas (@LucasOutumuro) <a href="https://twitter.com/LucasOutumuro/status/1782089893327388711?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 21, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
He explains that the $80 million in daily fees is approximately four times larger than the previous all-time high that was set all the way back in December 2017.
During the ordinals, the average transaction fee was $30. However, now, it has peaked at $128.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/bitcoin-users-spend-record-2-4m-in-fees-on-halving-block/" aria-label="“Bitcoin Users Spend Record $2.4m In Fees On Halving Block” (Edit)" rel="noopener noreferrer nofollow">Bitcoin Users Spend Record $2.4m In Fees On Halving Block</a>
Moreover, miners are now earning record revenues despite the recent halving event despite the fact that block rewards have dropped 50%.&nbsp;
On Saturday, they managed to earn more than $100 million. Prior to that, the consensus was that miners would experience short-term strain after the halving, with prominent miners’ stocks dropping more than 50% from their record highs.&nbsp;
Outumuro believes that traditional finance simply was not aware of the launch of Runes.&nbsp;
“It’s been less than 48 hours since the launch of Runes and it has already made an impact of historic proportions,” the analyst sums up.&nbsp;
However, it remains whether this hype surrounding Runes is going to persist.&nbsp;
So far, it seems like retail is sitting on the sidelines based on the fact that the number of retail addresses has reached a new low.&nbsp;
However, Runes might potentially emerge as a solution to Bitcoin’s long-standing security problem despite attracting some pushback within its conservative community.
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
#Binance #WRITE2EARN
The post <a href="https://bitcoinworld.co.in/bitcoin-btc-generated-24-time-more-fees-compared-to-ethereum/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Generated 24 Time More Fees Compared to Ethereum</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Bitcoin (BTC) Generated 24 Time More Fees Compared to Ethereum

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