
Bitcoin’s fourth halving happened: commissions rose to record highs, miners are happy
The reward for mining Bitcoins has decreased from 6.25 BTC to 3.125 BTC, which means that the fourth halving in the history of the first cryptocurrency has finally happened. The event took place on Saturday, April 20, at the height of block #840,000.
There were no significant price fluctuations in the Bitcoin exchange rate after the halving. On the weekend, quotes were within $63,000-$64,000. As of Monday, April 22, the BTC cost is $66,400. Experts predict that after the halving, the price may fall to $42,000, and by the end of 2024 will increase again, exceeding the mark of $90,000.
After the halving, commissions on the Bitcoin network soared to record highs. Against this backdrop, miners earned 37,626 BTC ($2.39 million) at block height #840,000. Whale Alert analysts pointed out that one user paid 6.7 BTC ($430,000) as commission, while another paid almost 8 BTC ($511,500).
The subsequent blocks #840 003 and #840 004 accumulated commissions of 16.06 BTC (over $1 million) and 24 BTC (over $1.5 million), respectively.
The average transaction value on the Bitcoin network soared to $240 and then began to decline. According to the Mempool.space service, the current fees are within $10-$13 (as of 04/22/2024).
Let’s recall that halving occurs once every four years (every 210 thousand blocks), after which the reward for miners is divided twice. The initiator of this event is the Bitcoin inventor Satoshi Nakamoto, who programmatically put it in the network. The next halving of the first cryptocurrency will occur in 2028.
