Bitcoin Blockchain Dominance Surges After Halving

Bitcoin's blockchain bandwidth usage has surpassed 90% for the first time since the halving event in April, indicating a significant increase in network activity. This surge is primarily driven by the adoption of new token standards like Runes and BRC-20, leading to higher transaction volume. Runes, designed for fungible tokens on the BTC blockchain, have gained popularity, resulting in a substantial increase in transactions. BRC-20 tokens have also contributed to more complex transactions and greater interaction with the BTC blockchain, further increasing bandwidth usage. The halving event, which reduced block rewards for miners by 50%, has also incentivized miners to prioritize transactions with higher fees, contributing to the rise in bandwidth usage.