The most recent data displays a dramatic drop in transactions with Bitcoin Runes, which have decreased by 88% thus far. The average daily transactions were 331,040 between June 9-15 and only 37,820 between June 22-28. This is a very steep decline right after the joys of the opening period of Runes during Bitcoin’s fourth halving event on April 20.
The lower prices have also caused the miners’ fees to come down, with the share of Rune trades falling to below 2 Bitcoin daily, as opposed to 884 Bitcoins on April 24. This stand-off reveals the situation Bitcoin is undergoing: struggling to keep the transaction volumes and miner revenue on the Bitcoin network at an increasing level.
