Runes Becomes Leader in Terms of Bitcoin Transactions

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As of April 24, 51.5% of daily transactions on the Bitcoin blockchain were made using tokens on the Runes protocol, while traditional BTC operations accounted for 46.9%.

These statistics are according to the latest data from the Dune dashboard. Just a day before, on April 23, the numbers were even more skewed in favor of Runes, with 81% of transactions using their tokens and only 18.8% using traditional BTC.

Other tokens using Ordinals and BRC-20 made up less than 2% of total transactions. The excitement surrounding the launch of Runes on the halving day, April 20, caused the average transaction fee to skyrocket to a record $128.45.

However, in the following days, the fee amount has decreased closer to previous levels. As of April 24, the average fee was $28.06, according to BitInfoCharts.

This drop in fees also led to a decline in miners’ income, dropping from a record $107.75 million on April 20 to $48.9 million on April 24, as reported by Blockchain.com.