比特币的市值与费用比率短暂低于以太坊

比特币的市值与交易费用之比短暂低于以太坊，表明市场动态可能发生变化。最近推出的 Runes 代币标准推动了比特币交易费用的上涨，帮助矿工抵消了区块补贴奖励的减少。然而，随着交易费用开始降温，分析师正在监控该比率，将其作为未来趋势的潜在指标。

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

比特币的市值与交易费用之比短暂低于以太坊

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 是随着最新的比特币减半而推出的一种新颖的代币标准，对比特币网络产生了重大影响。本新闻稿之前曾讨论过，由于预期的提高，即使在正式推出之前，“跑路”也导致了比特币平均交易费用的飙升。此外，随着交易费收入攀升至前所未有的水平，Runs 还帮助矿工减轻了区块补贴奖励减少的影响。

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.

这些趋势在很大程度上持续存在。过去一周，比特币平均交易费用的 7 天移动平均值已超过 40 美元，较以太坊平均交易费用 4.10 美元上涨了十倍。

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.

尽管挤兑在影响比特币交易费用动态方面占据主导地位，但比特币的市值仍然明显高于以太坊。截至 2024 年 5 月 1 日，比特币的市值约为 9000 亿美元，而以太坊的市值约为 3000 亿美元。

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.

比特币市值与交易费用之比暂时低于以太坊，凸显了区块链技术的动态性质以及不同协议之间持续的竞争。虽然比特币历来被认为是一种价值储存手段和对冲通胀的手段，但新代币标准的出现和去中心化应用程序的日益普及引发了行业格局的转变。

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.

比特币是否会重新获得交易费用市场的主导地位，或者以太坊和其他替代协议是否会继续挑战其霸主地位，还有待观察。随着加密货币的发展和成熟，市值和交易费用之间的相互作用可能仍然是塑造该行业未来的关键因素。