According to Glassnode data, Runes transactions generated $117 million in cumulative Bitcoin network fee revenue post-halving, with $62.4 million amassed on the day of the halving itself.
However, this rise proved to be short-lived, recent data reveals that on April 28, Runes transactions only contributed $1.03 million in fees.
Runes Dominates Bitcoin Network Post-Halving
On April 20, the day of the halving, transaction fees within the Bitcoin network saw a notable spike. This surge was primarily linked to the implementation of the Runes protocol, leading to higher mining fees.
Runes transactions accounted for 57.7% share of all Bitcoin network transactions. Financial transactions trailed behind with a 41.5% share, while Ordinals and BRC-20 accounted for 0.5% and 0.2%, respectively.
This dominance persisted over the halving weekend, with Runes maintaining most of the network activity. On April 21, Runes transactions accounted for 51.6% of total transactions.
However, by April 22, this
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