Summary
TLDR: Runes protocol allows creation of meme coins on Bitcoin, hundreds of tokens launched, generating $80 million in fees for miners. Increased trading activity has raised transaction costs to over $70, up 1,395.8% in 30 days.
Key Points
1. The launch of Runes, a new protocol enabling the creation of meme coins on Bitcoin, coincided with the halving.
2. Hundreds of tokens have been launched on Runes, contributing over $80 million in fees to bitcoin miners.
3. Increased trading activity has driven up the costs associated with sending a transaction on Bitcoin, with the current average price over $70, an increase of 1,395.8% over the trailing 30-day average.