quick take
- Over the past few weeks, Bitcoin miner fees have started to explode due to demand for inscriptions and BRC-20 tokens.
- This saw another “flip” as Bitcoin fees exceeded block rewards to miners.
- Additionally, the BRC-20 token lost $600 million in market cap within four days, demonstrating the rapid rise and fall of these tokens. The current market capitalization of BRC-20 tokens is less than $500 million.
- bitcoin percentage Miner revenue from fees has dropped from a peak of 42% as of May 8 to 7% today.
- May 8 Minor Earnings Fee This equates to around 635 bitcoins, but miners currently only receive 71 bitcoins.
- Compared to last year, when bitcoin miner revenue from fees dropped to around 2%, fees are still high.
It first appeared on CryptoSlate after bitcoin miner revenue from fees dropped to 7%.
