Summary
TLDR: Bitcoin transaction fees have decreased significantly after a spike, settling at levels that provide relief to users. The post-halving impact on fees and miner revenues has been less severe than anticipated, with fees currently lower than their peak. Despite economic shifts, Bitcoin remains stable in market price. The Runes protocol introduced during the halving aimed to boost on-chain activity but has not replaced lost revenue as effectively as hoped.
Key Points
1. Following a dramatic spike, Bitcoin transaction fees have significantly decreased, settling at levels that provide relief to users.
2. The Bitcoin mempool currently lists the transaction fees for medium and high-priority transactions at $10.85 and $11.32, respectively, after a steep decline from recent unprecedented highs.
3. Despite predictions of increased transaction fees post-halving, fees have normalized and are significantly lower than their peak, with Bitcoin remaining relatively stable in market price above $66,000.