比特币交易费用在减半后暴跌至与以太坊相同的水平

在比特币减半和 Runes 协议推出后的最初飙升之后，每日比特币交易费用已恢复到与以太坊类似的水平。比特币交易费用的 7 天移动平均值最高为 2580 万美元，但此后已降至 410 万美元，与以太坊的日均交易费用相当。同样，比特币的平均个人交易费用曾达到 40 美元的高位，目前已稳定在 8.60 美元，仍然是以太坊平均交易费用的两倍。这一下降与符文相关交易活动的减少同时发生，这在很大程度上导致了初始费用的飙升。

Bitcoin Transaction Fees Plummet Post-Halving, Equaling Ethereum Levels

比特币交易费用在减半后暴跌，与以太坊水平持平

As the frenzy surrounding the launch of the Runes protocol subsides, the average daily transaction fees for Bitcoin (BTC) have plummeted back down to the same level as Ethereum. This decline comes after a surge in activity and fees associated with the protocol's launch.

随着 Runes 协议推出的狂热消退，比特币 (BTC) 的平均每日交易费用已暴跌至与以太坊相同的水平。这种下降是在与协议启动相关的活动和费用激增之后发生的。

During the peak of the Runes hype on April 24th, the seven-day moving average of daily Bitcoin transaction fees reached an all-time high of $25.8 million, more than five times higher than Ethereum's fees at the time. However, this surge was short-lived, and by Wednesday, the average had fallen to $4.1 million, matching Ethereum's average.

在 4 月 24 日 Runes 炒作高峰期间，比特币每日交易费用的 7 天移动平均值达到 2580 万美元的历史新高，是当时以太坊费用的五倍多。然而，这种飙升是短暂的，到周三，平均价格已降至 410 万美元，与以太坊的平均水平相当。

Similarly, individual transaction fees on Bitcoin spiked to $40 on April 24th, ten times higher than Ethereum's fees. While these fees have since dropped to $8.60 on Wednesday, they remain more than double Ethereum's average of $3.40.

同样，比特币的个人交易费用在 4 月 24 日飙升至 40 美元，是以太坊费用的十倍。尽管这些费用周三已降至 8.60 美元，但仍是以太坊平均费用 3.40 美元的两倍多。

Runes Transaction Fee Windfall Fizzles Out

符文交易费暴利消失

After Bitcoin's fourth halving, block 840,000 generated a record-breaking $2.4 million in transaction fees, far exceeding the approximate $200,000 block subsidy reward. This trend continued for an unprecedented 104-block period, where transaction fee rewards surpassed the subsidy, according to data from Bitcoin explorer Mempool.

比特币第四次减半后，第 84 万区块产生了创纪录的 240 万美元交易费用，远远超过了大约 20 万美元的区块补贴奖励。根据比特币浏览器 Mempool 的数据，这种趋势持续了前所未有的 104 个区块时期，其中交易费用奖励超过了补贴。

While transaction fee rewards have since decreased, they still account for a significant 13% of total block rewards on a seven-day moving average basis, compared to around 3% before the halving.

虽然交易费用奖励此后有所下降，但按 7 天移动平均线计算，它们仍占区块奖励总额的 13%，而减半前约为 3%。

Runes Hype Fueled Transaction Fee Spike

符文炒作推动交易费飙升

Much of the recent surge in transaction fee activity can be attributed to the hype surrounding Runes, a new fungible token standard launched on Bitcoin at the time of the halving. Runes generated over $135 million in fees for miners during their first week alone.

最近交易费用活动的激增很大程度上可以归因于围绕符文的炒作，符文是比特币减半时推出的一种新的可替代代币标准。仅符文推出的第一周就为矿工带来了超过 1.35 亿美元的费用。

The Runes protocol was developed by Ordinals creator Casey Rodarmor as a more efficient solution for creating tokens on Bitcoin compared to BRC-20 tokens that use Ordinals inscriptions. Data from the Runes marketplace Unisat indicates that around 65,000 Runes tokens have been minted to date, driving up the demand for network blockspace and, consequently, transaction fees.

Runes 协议由 Ordinals 创建者 Casey Rodarmor 开发，与使用 Ordinals 铭文的 BRC-20 代币相比，它是在比特币上创建代币的更有效的解决方案。来自 Runes 市场 Unisat 的数据表明，迄今为止已铸造了约 65,000 个 Runes 代币，这增加了对网络区块空间的需求，从而增加了交易费用。

Among the tokens created under the Runes standard, DOG stands out as the most notable, boasting a market cap of approximately $350 million, according to data from Magic Eden.

根据 Magic Eden 的数据，在 Runes 标准创建的代币中，DOG 最为引人注目，其市值约为 3.5 亿美元。

Conclusion

结论

The recent surge in Bitcoin transaction fees has subsided, and fees have now returned to levels comparable to Ethereum. While the Runes protocol contributed significantly to the initial spike, its impact has diminished as the hype surrounding the launch has faded. Nonetheless, the halving has had a lasting impact on Bitcoin's fee structure, with transaction fees now accounting for a larger proportion of total block rewards.

最近比特币交易费用的飙升已经消退，费用现已恢复到与以太坊相当的水平。虽然符文协议对最初的飙升做出了重大贡献，但随着围绕发布的炒作逐渐消退，其影响力也随之减弱。尽管如此，减半对比特币的费用结构产生了持久影响，交易费用目前在总区块奖励中所占比例更大。