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Bitcoin’s 4th Halving in the books, with the event programmatically slashing the network’s inflationary BTC block reward by 50% to 3.125 BTC per block.
Despite concerns that this Halving’s emissions reduction would result in a drop to hashrate, leading to lower levels of economic security – Runes and their profound impact appear to have pushed off this concern.
Bitcoin miners derive revenues from two components of the block reward: inflationary BTC emissions and transaction fees. The emission component of their income was halved on Friday, yet net transaction fees surged as onchain participants began minting and trading this latest generation of fungible tokens on Bitcoin.
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