On April 24, the share of tokens on the Runes protocol in the total number of daily transactions on the Bitcoin blockchain was 51.5%. Traditional operations with BTC accounted for 46.9%, according to the Dune dashboard.
A day earlier, the values reached 81% and 18.8%, respectively. The total share of Ordinals and BRC-20 did not exceed 2%.
The excitement around the launch of Runes on halving day on April 20 pushed the average commission size to a record $128.45.
In subsequent days, the amount of fees was adjusted closer to the previous values. According to BitInfoCharts, as of April 24, the figure was $28.06.
Miners’ income fell during the day from a record $107.75 million on April 20 to $48.9 million (Blockchain.com). The share of commissions in the values is $81 million (~75%) and $17.1 (~35%).
Despite the dominance of Runes in online activity after the near-halving spike, “good old BTC” began to generate more transaction revenue again. On April 24, traditional Bitcoin transactions accounted for 65.1% of total fees.
Record revenue from commissions on the day of halving has led some to speculate that the network is moving to pay miners mostly through transaction activity.
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However, CoinShares estimates that the average contribution of fees to revenue in the coming months will be approximately 15%. Only on peak days the figure will reach 30%, the company admitted.
Let us recall that Bernstein analysts came to the conclusion that Bitcoin is experiencing a “DeFi summer” amid a record increase in the volume of commissions received by miners thanks to Runes.
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