This week, Bitcoin had a steady start, closing above $65,800. Since the halving, transaction fees have dramatically decreased. Prior to now, transferring Bitcoin might run you more than $146 at standard speed and $170 at expedited speed. The current values are $8.48 and $9.32, respectively.
Miners were concerned about losing money following the reduction. However, Casey Rodarmor’s Runes protocol, introduced at the halving, offers fresh hope. It makes it possible to create fungible tokens on Bitcoin, which will increase usage and revenue.
Transaction fees surged to over $146 for a medium-priority transaction and to $170 for a high-priority transaction after the halving.
But the hash price index, which indicates the potential earnings for miners, fell from $182.98 to $81. Therefore, even with the new protocol, things for miners remain a little unclear.
Read also: Crypto Analyst Expresses Optimism As Bitcoin Rebounds Post-Halving
