Chart of the Week

During the Bitcoin halving on Friday, demand for Bitcoin blockspace skyrocketed with average fees reaching over $120 per transaction, with a few blocks seeing over $1m paid out to miners. While the halving decreased the issuance rate of Bitcoin, it also saw the launch of Runes which are a new token standard on Bitcoin. In basic terms, Runes allow for memecoins to be traded on Bitcoin which many traders see as a massive development.