The buying and selling frenzy continues for memecoins like Pepe triggered an undesirable consequence for (BTC) taking its transaction prices to their highest degree in two years. On Could 3, the entire quantity of charges paid on the Bitcoin blockchain reached $3.5 million, leaping round 400% from the tip of April. Bitcoins BRC-20 token commonplace has turn out to be the most recent development within the crypto ecosystem amid the rise of memecoins. A complete of 8,500 totally different tokens have been minted utilizing the BRC-20 commonplace. Gasoline charges on the blockchain have additionally been lately soar to new multi-month highs.

Amid an ongoing debate over miner prices and sensitivity to Bitcoin worth drops, new numbers counsel miners are firmly at midnight long-term. Calculations by on-chain analytics agency Glassnode counsel that since 2010, charges and block subsidies have introduced billions to miners. The miners’ all-time whole income is sort of 40% greater than their estimated prices, amounting to $50.2 billion versus $36.6 billion, respectively.

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