Bitcoin Undergoes Fourth Halving Event, Runes Protocol Launch Ushers New Era

By: Eliza Bennet

Bitcoin miners faced a significant milestone as the cryptocurrency's network successfully underwent its fourth halving late Friday, a premeditated event occurring every four years. This halving event brings about a cut in the rewards that miners earn by half, a protocol devised to keep inflation under control. However, despite the anticipation and the inherent cut in Bitcoin mining rewards, the price of BTC experienced only minor fluctuations.

The recent halving was met with enthusiasm and positive sentiment across industry circles. It brought high hopes, particularly as the Runes Protocol, a new feature on the Bitcoin network, came online. Closely following the halving event, the launch of the Runes Protocol saw a sudden surge in transaction fees as users rushed to mint tokens, validating the strong demand and excitement around it.

Following this pivotal event, Bitcoin managed to hold its rally around $63,700. The halving event, along with the Runes Protocol introduction, has pushed Bitcoin into a new era, underpinning its standing as a major player in the digital currency sphere.