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Bernstein: Miners Rewarded Over $100 million on Bitcoin Halving Day

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2024-04-22 10:52:38
Bernstein analysts said that with the launch of the token protocol Runes, Bitcoin is experiencing a "DeFi Summer" moment similar to Ethereum 2020. On April 20, Bitcoin miners received more than $100 million in rewards, of which about $80 million was earned in transaction fees alone. Bitcoin's fourth halving reduced the block subsidy reward for miners from 6.25 BTC to 3.125 BTC.
Before the halving, Bitcoin miners were receiving subsidies and transaction fee rewards totaling around $6,000 to $70 million per day. However, according to Blockchain.com, while miners were receiving half of the subsidy rewards per block, that figure skyrocketed to $107.75 million on April 20. About 75 percent of that ($80 million) came from transaction fees alone, both all-time highs, according to Glassnode.
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