After the half-day average of $128 was recorded, Bitcoin payments fell
The average payout on Bitcoin fell sharply a day after reaching a record average of $128 on April 20 – the fourth day of Bitcoin's halving.
As of April 21, according to mempool.space, Bitcoin (BTC) fees for medium-priority transactions have fallen to an average of $8-10.
Just one day earlier, Bitcoin topped $78.3 million in total fees, beating Ethereum by more than 24 times according to Crypto Fees.
The day included a staggering 37.7 bitcoins ($2.4 million) paid for BiaBTC in a halving of 840,000 bitcoins, the most sought-after digital real estate in the network's 15-year history.
Most of the demand for block 840,000 came from memecoin and a new token standard that enthusiasts of the invincible token are competing to create and model through the Runes protocol.
There were 3050 transactions included in that block, meaning the average user paid less than $800.
The above-normal block fees continued until block 840,200, according to mempool.space, however, block fees dropped to around 1-2 Bitcoin.
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The large block fee paid to miners in half a day meant that they were not affected by the initial decrease in block subsidy from 6.25 bitcoins to 3.125 bitcoins.
But that's not the case now because the average block fee is below 3.125.
Meanwhile, the payout on Bitcoin has now topped Ethereum for six consecutive days between April 15-20, with its 7-day payout now at $17.8 million.
The halving event did not have a material impact on Bitcoin's price, which has since risen 1.5% to $64,840, according to CoinGecko.
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