Bitcoin Runes Attract $135M in Fees After Halving

Tokens issued under the standard generated more than 2,100 BTC costs within a week, as per on-chain data. Runes enable users to execute more efficient transactions and mint better-optimized tokens on BTC by tapping BTC’s UTXO format. The concept was launched during the halving and has since been a source of on-chain BTC activity.

Jade ARdinals, a Bitcoin researcher, mentioned that the additional load on BTC’s network was caused solely by the token creation aspect, known as minting. Speculation around Runes triggered mass minting, adding an “artificial” burden on BTC block space. It is anticipated that this pressure will subside, while maintaining that the Runes standard will attract more developers to Bitcoin.

Runes have already captured a significant portion of BTC’s on-chain activity. Crypto Koryo’s Dune dashboard reported that Runes tokens accounted for 45% of all Bitcoin transactions on April 25. Analysts believe that the adoption of Runes has a generally positive long-term impact on the network and that the hype around their minting through airdrops will diminish as the most sought-after tokens launched during the halving are minted out.

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