Bitcoin

April

<p class="is-style-lead">The average fee on the Bitcoin network jumped to $19.48 as the halving approaches.</p> 
<p>According to BitInfoCharts, fees on the <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="">Bitcoin</a> network have increased significantly as the Runes protocol is about to launch. On April 18, the average commission reached $19.48, rising by almost $14 since the beginning of the month.</p> 
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  <img loading="lazy" decoding="async" width="1024" height="187" src="https://crypto.news/app/uploads/2024/04/Screenshot-2024-04-18-at-19.55.58-1024x187.png" alt="Bitcoin network fees skyrocket amid upcoming halving - 30"> 
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  Source: BitInfoCharts
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<p>The increase in this indicator is likely due to the launch of the <a href="https://crypto.news/pups-meme-coin-surges/" target="_blank" rel="">Runes protocol</a> by Casey Rodarmor, which was positioned as a simpler alternative to <a href="https://crypto.news/tag/Ordinals/" target="_blank" rel="">Ordinals</a>. Rodarmor claimed that the main problem with BRC-20 tokens is that they clog the network.</p> 
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   <p lang="en" dir="ltr">New terrible idea just dropped: Runes.<br><br>A worse-is-better fungible token protocol for Bitcoin.<a href="https://t.co/TPVrUvWxm8" target="_blank" rel="">https://t.co/TPVrUvWxm8</a></p>— Casey (@rodarmor) <a href="https://twitter.com/rodarmor/status/1706438248606904382?ref_src=twsrc%5Etfw" target="_blank" rel="">September 25, 2023</a>
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<p>The Runes protocol aims to solve this problem by working autonomously without requiring Ordinals and allowing for more efficient transactions. Some projects, including the <a href="https://crypto.news/tag/NFT/" rel="">NFT</a> collection PUPS, announced the release of tokens based on the new standard in advance.</p> 
<p>PUPS is an experimental BRC-20 token on the BTC blockchain. After the <a href="https://crypto.news/tag/bitcoin-halving/" target="_blank" rel="">halving</a> scheduled for April 20, developers plan to transfer the asset to the Runes protocol. Over the past week, positioning itself as “the first meme coin on the <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="">Bitcoin</a> network,” the PUPS token has experienced an explosive price increase of over 1,200%.</p> 
<p>The asset’s capitalization, launched in January of this year, and currently stands at $439 million. Meanwhile, the trading volume of the PUPS meme coin exceeds $5.4 million.</p> 
<p> You might also like: <a href="https://crypto.news/pups-token-plummets-40-amid-brc-20-runes-hype/" rel=""> PUPS token plummets 40% amid BRC-20, Runes hype </a> </p>

Bitcoin network fees skyrocket amid upcoming halving

crypto.news

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