Bitcoin Miners See Triple Revenue Spike After Halving, Fueled by Network Fees and Speculative Activity
According to a report by broker Bernstein, since the reward halving of bitcoin, miners have earned about 19 BTC per block on average, which is over and above the standard block rewards as a spike in network fees led to a tripling of revenue. The broker expects 15% of miner revenues to be network transaction fees on a sustainable basis. The launch of the Runes protocol over the weekend triggered a spike in network fees on the Bitcoin blockchain, indicating the level of developer interest and fee revenue potential for miners. While the speculative activity may be short-lived, the report notes that the fungible token market is largely untapped on the Bitcoin network, and miners may continue to enjoy above-normal windfall for now.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Barclays: US inflation rate will increase by 0.2% in the next year
Michael Saylor: Bitcoin is becoming the world's reserve capital network
Veteran Cryptocurrency Analyst Reveals What It Takes to Trigger ‘Big Altcoin Season’
Cryptocurrency analyst il Capo introduced the event needed to kick off a major altcoin season in his statement. Here are the details.
Pump.Fun co-founder: potential token rumors are not true