Bitcoin reclaims blockchain dominance post-BTC halving. Bitcoin’s blockchain bandwidth usage surpasses 90% post-halving, driven by new token standards and increased transaction volume. Bitcoin’s blockchain bandwidth usage has exceeded 90% for the first time since the halving event in April, signaling a substantial rise in network activity. Despite facing an “extended level” of fear, uncertainty and doubt (FUD), Bitcoin adoption, transaction and trading activity remain unfettered. Dune Analytics user Cryptokoryo’s chart portrays the defining moment on June 20, where BTC’s 91.4% dominance superseded 6.8% for Runes, 1.6% for BRC-20 and 0.2% for Ordinals in transactional share.
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*Cryptokoryo’s chart depicting the share of transactions across Bitcoin, Ordinals, BRC-20 and Runes in 2024. Source: Dune Analytics*