#Bitcoin is experiencing extremely high demand for blockspace, driven by BRC-20 tokens, utilizing text based inscriptions, and ordinals
This is a revenue boost for Miners, as the average fee paid per block has reached 2.905 $BTC, near past bull peaks.
A few recent blocks have seen tremendous total fees paid of 5.87 $BTC, approaching 94% of the 6.25 $BTC block subsidy.
PS.
- In previous halvings, every time mining rates reached maximum peaks, a low period began. Until then, the demand was only for p2p transfer. Now, it's the ordinals.
- At the beginning of a bull, this index tends to de-correlate from previous halvings.
- Finally, we may have a new market to monetize miners above the 6.25 BTC subsidy of keeping their machines running. It is ideal and correct to encourage new and old miners to increase their computational power to the BTC Network.
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[Published in Portuguese] https://t.me/TutorialBTC/7864
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