Data shows that the Bitcoin miners’ revenue from transaction fees has dropped 90% as the BRC-20 token frenzy has slowed.
Bitcoin Miners Are Now Making Just $1.7 Million In Transaction Fees
Bitcoin miners earn revenue through two main sources: the block rewards they receive for solving blocks on the network and the transaction fees they earn for handling individual transfers.
In the last couple of years, the latter’s contribution towards the total revenue had been quite small, meaning that the miners had to survive on the block rewards alone.
Recently, however, the transaction fee revenue of these chain validators observed explosively high values, thanks to the BRC-20 tokens frenzy that had taken over the market.
Generally, the transfer fee remains low when there is little traffic on the blockchain. This is because the investors do not have much incentive to attach higher fees when there are few…
