Crypto News – According to statistics from the data analytics website Cryptofees, fees paid by users on Bitcoin exceeded those paid by users on Ethereum the previous day.
BTC vs. ETH Fees: Reasons Why Bitcoin Fees Have Soared in the Last 24 Hours
On Bitcoin, users paid $7.47 million in transaction fees, whereas on Ethereum, users paid $7.31 million. In terms of Bitcoin fees generated in 2024, this is the sixth-highest day. Excitement for the impending halving and the Runes update is what is driving the surge in fees paid by Bitcoin users. Compared to Bitcoin’s $7.5 million, Ethereum’s seven-day average fee is $8.5 million.
Runes Upgrade Could Be The Main Reason For Bitcoin’s Movement
On Saturday, the Runes upgrade is also anticipated to launch. Its purpose is to increase the efficiency of trading NFTs and tokens on the Bitcoin blockchain. The majority of the activity on Bitcoin appears to be driven by anticipation of the upgrade, as Bitcoin NFTs dominate other blockchains in terms of volume and users.
Runestone holders are anticipated to get airdrops from three distinct Runes memecoin initiatives after the Runes upgrade. Later this month, the first airdrop, called DOG, is anticipated to be made available. Later in the year, the other two memecoins are anticipated to airdrop.
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