Key Facts: The price issue was overshadowed by the runes, but is expected to rise in the coming days. It is thought that the runes will compensate for the miners' losses from the halving. Although the arrival of Bitcoin halvings are highly anticipated events, they always bring news that attracts the attention of the ecosystem. And what was new in this fourth reduction of rewards came from the hand of runes, the protocol that allows the creation of fungible tokens on the network. After the halving, which occurred on April 20, runes have become the topic of the moment, especially due to the high commissions that were paid in block 840,000. The 37.62 BTC from the halving block will go down in history as one of the highest fees ever paid. Let's see what is being talked about on social networks. «The runes have resulted in really high fees, although it's hard to know if the design was intentional or not,» write in X Peter Todd, renowned Bitcoin developer.
“Runes have resulted in some really high fees, although it's hard to know if the design was intentional or unintentional.”Of course it's intentional. Trolling Luke-Jr is an excellent marketing strategy for the right audience. https://t.co/He8TvJr2if— Peter Todd/mempoolfullrbf=1 (@peterktodd) April 20, 2024
The fees were also the subject of comments for the well-known bitcoiner BTCAndrés285, who drew attention to the rise in rates a few minutes from the halving. “This is no longer “epic sat” “This must be because of Runes or something else,” she wrote on his account. With this she made reference to the special satoshi that was mined by the ViaBTC pool and that was also a source of interest in the days prior to the halving. As reported by BitcoinDynamic, the so-called sat épic was another of the novelties of this fourth halving, causing strong competition among miners for mining the halving block and obtaining the precious sat. However, it has been the runes designed by the same Ordinals developer, Casey Rodarmor, that have captured the attention of bitcoiners in these first post-halving moments. So it also comment Lunaticoin, highlighting the fact of the effect that the protocol is having on the network. With a capture of the mempool with the halving block, Spanish bitcoiner illustrates rising fees because of the runes. The new protocol was rated as «a little shitcoineo» by one of his followers. Interest in the subject has reached the point of overshadow comments on BTC price. Although there are those who have spoken out reiterating their bullish expectations, pointing to an increase in the value of the digital currency in the coming days. This, despite the fact that the value of bitcoin has remained stable at around USD 63,000 after the halving. At the time of this writing, just over 14 hours before the halving, there are already thousands of tokens registered in the protocol (the number rose from hundreds to around 2,032). The RuneAlpha explorer shows that there have already been over 302,654 rune transactions and there are over 32,472 rune hodlers. It is not known if the situation will be sustainable over time, others draw attention to the repercussions of these rates. “But where is the budget for Bitcoin miners going to come from?” he wonders the bitcoiner Juan in Crypto, focusing on the profits that interest in the protocol is giving to the network's miners. So far, everything indicates that the halving of rewards, which went from 6.25 to 3.125 BTC, will not affect mining income as much if fees remain at this level. This would help begin the effects on the decrease in the supply of BTC that usually puts mining companies in complex situations after each halving. This is because, thanks to this impressive increase, miners have charged more fees in recent blocks than they normally charge in 24 hours. Lucky miners include ViaBTC, Foundry, Braiins Pool, and Antpool. However, the situation is more complicated for those who want to make transactions and are looking to pay low fees. We still have to wait to see how events develop.