比特幣的市值與費用比率短暫低於以太坊

比特幣的市值與交易費用之比短暫低於以太坊，顯示市場動態可能會改變。最近推出的 Runes 代幣標準推動了比特幣交易費用的上漲，幫助礦工抵消了區塊補貼獎勵的減少。然而，隨著交易費用開始降溫，分析師正在監控該比率，將其作為未來趨勢的潛在指標。

Bitcoin's Market Cap to Transaction Fee Ratio Briefly Dips Below Ethereum's

比特幣的市值與交易費用比短暫低於以太坊

May 1, 2024

2024 年 5 月 1 日

Runs, a novel token standard introduced with the latest Bitcoin halving, have exerted a significant influence on the Bitcoin network. Previously discussed in this newsletter, Runs have contributed to a surge in Bitcoin's average transaction fees, even prior to their official launch, thanks to heightened anticipation. Moreover, Runs have assisted miners in mitigating the impact of a reduced block subsidy reward, as transaction fee revenue has climbed to unprecedented levels.

Runs 是隨著最新的比特幣減半而推出的一種新穎的代幣標準，對比特幣網路產生了重大影響。本新聞稿之前曾討論過，由於預期的提高，即使在正式推出之前，「跑路」也導致了比特幣平均交易費用的飆升。此外，隨著交易費收入攀升至前所未有的水平，Runs 也幫助礦工減輕了區塊補貼獎勵減少的影響。

These trends have persisted to a large extent. In the past week, the seven-day moving average of Bitcoin's average transaction fee has surpassed $40, marking a tenfold increase from Ethereum's average of $4.10.

這些趨勢在很大程度上持續存在。過去一周，比特幣平均交易費用的 7 天移動平均值已超過 40 美元，較以太坊平均交易費用 4.10 美元上漲了十倍。

Despite the dominance of Runs in influencing Bitcoin's transaction fee dynamics, Bitcoin's market capitalization remains significantly higher than Ethereum's. As of May 1, 2024, Bitcoin's market cap stands at approximately $900 billion, while Ethereum's market cap is around $300 billion.

儘管擠兌在影響比特幣交易費用動態方面佔據主導地位，但比特幣的市值仍然明顯高於以太坊。截至 2024 年 5 月 1 日，比特幣的市值約為 9,000 億美元，而以太坊的市值約為 3,000 億美元。

The temporary dip in Bitcoin's market cap to transaction fee ratio below Ethereum's highlights the dynamic nature of blockchain technology and the ongoing competition between different protocols. While Bitcoin has historically been recognized as a store of value and a hedge against inflation, the emergence of new token standards and the increasing popularity of decentralized applications have sparked a shift in the industry landscape.

比特幣市值與交易費用之比暫時低於以太坊，凸顯了區塊鏈技術的動態性質以及不同協議之間的持續競爭。雖然比特幣歷來被認為是一種價值儲存手段和對沖通膨的手段，但新代幣標準的出現和去中心化應用程式的日益普及引發了行業格局的轉變。

It remains to be seen whether Bitcoin will regain its dominance in the transaction fee market or whether Ethereum and other alternative protocols will continue to challenge its supremacy. As cryptocurrencies evolve and mature, the interplay between market capitalization and transaction fees will likely remain a key factor in shaping the industry's future.

比特幣是否會重新獲得交易費用市場的主導地位，或者以太坊和其他替代協議是否會繼續挑戰其霸主地位，還有待觀察。隨著加密貨幣的發展和成熟，市值和交易費用之間的相互作用可能仍然是塑造該行業未來的關鍵因素。