At 8:09 am today, Bitcoin completed its fourth halving at block height 840,000. The block reward decreased from 6.25 BTC to 3.125 BTC. This block was mined by the ViaBTC mining pool, with a total reward of 40.751 BTC, worth approximately $2,601,886.
(Background Information:
Impact of Bitcoin Halving on BTC NFT Ecology?
)
(Additional Background:
PlanB Firmly Asserts: Bull Market is Not Over, BTC to Rise Above $300,000 After Halving
)
At 8:09 am today, Bitcoin successfully completed its fourth halving at block height 840,000! According to the Bitcoin block explorer mempool information, the block reward on the Bitcoin network was reduced from 6.25 BTC to 3.125 BTC. The first block with 3.125 BTC was mined by the ViaBTC mining pool.
It is worth noting that the transaction fee for this block reached as high as 37.626 BTC, worth approximately $2,402,358, with the highest fee rate at 3,604,819 sat/vB, setting a new record. The total reward for this block was 40.751 BTC, worth approximately $2,601,886.
Source: mempool
Bitcoin Network’s High Priority Fee Breaks 185 sat/vB
The surge in transaction fees is estimated to be related to the activation of the Runes protocol coinciding with Bitcoin halving. Leonidas, the developer of Ordinls and founder of Runestone, stated that the meme coin DOG•GO•TO•THE•MOON, airdropped to Runestone, was included in a transaction with a fee rate of 1,258,757 sat/vB.
In addition, mempool data shows that the current transaction fees on the Bitcoin network are as follows: no priority fee at 20 sat (1.96 USD)/vB, low priority fee at 1,396 sat (124.07 USD)/vB, medium priority fee at 1,787 sat (158.82 USD)/vB, and high priority fee as high as 2,084 sat (185.21 USD)/vB.
Source: mempool
Bitcoin Oscillates Around $64,000
At the moment of completing the halving, the price of Bitcoin was around $63,900, currently fluctuating between $63,000 and $64,000, with a closing price of $63,228.01, up 1.15% in the past 24 hours.
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