Reduction of Bitcoin transaction costs to a 10-year low

⛏️ Reduction of Bitcoin transaction costs to a 10-year low

Background
🔹 Only a 0.69% share of transaction fees in total miners' revenue of Bitcoin
🔹 Recording the lowest share of fees from miner revenue over the past decade

Focus
📌 99.31% reliance of miner revenue on block subsidy (Block Subsidy) and a sharp decline in fee-generating activities
📌 Severe drop in network congestion and reduction of on-chain fees (On-Chain Fees)
📌 Additional pressure on the economic model of miners in the post-halving environment due to the very low share of fees

Consequences
⚡️ Reduction of fee pressure on users and cheaper transfer of transactions on the main network
⚡️ Need for renewed growth in network activities (such as Ordinals protocols, Runes, or Layer 2) for the long-term revenue sustainability of miners

Conclusion
🎯 The share of fees reaching 0.69% indicates an unprecedented low in network fees over the past 10 years, which doubles the vital importance of on-chain activity growth for the sustainability of miner revenue.

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