Bernstein: Runes brings Bitcoin network into “DeFi Summer” moment

Mars Finance News, Bernstein analysts said that with the launch of the token protocol Runes, Bitcoin is experiencing a "DeFi Summer" moment similar to Ethereum in 2020. On April 20, Bitcoin miners received over $100 million in rewards, including approximately $80 million in transaction fees alone. Bitcoin’s fourth halving reduced miners’ block subsidy reward from 6.25 BTC to 3.125 BTC.

Before the halving, Bitcoin miners received a combined daily subsidy and transaction fee reward of approximately $60 million to $70 million. However, that number soared to $107.75 million on April 20, according to Blockchain.com, despite miners receiving half of the subsidy reward for each block. About 75% of that ($80 million) came from transaction fees alone, both record highs, according to Glassnode.