Runes Fee Spike Halving Day event
Overview
The activation of Casey Rodarmor’s Runes protocol coincided with Bitcoin’s fourth halving at block 840,000 on 20 April 2024. Competition to mint runes in that block made it the costliest in Bitcoin’s history: users paid approximately 37.7 BTC (around $2.4 million) in fees, and mining pool ViaBTC received a total block reward of 40.751 BTC. Average network transaction fees climbed to an all-time high of roughly $128 that day, with Runes-related transactions briefly accounting for more than 90% of all Bitcoin fees. Within days, fees dropped sharply.
Relations
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Frequently asked questions
What is Runes Fee Spike Halving Day?
Runes Fee Spike Halving Day is an event tracked in The Counterparty knowledge graph.
What type of entity is Runes Fee Spike Halving Day?
Runes Fee Spike Halving Day is classified as an event (event) in The Counterparty knowledge graph.
Sources
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