Declining popularity of Ordinals and Runes leads to lower Bitcoin on-chain fees

Golden Finance reported that in early 2024, Bitcoin's total transaction fees soared. After the halving event in April, fees rose sharply, reaching an all-time high. On April 20, transaction fees peaked at 1,257.71 BTC, accounting for more than 75% of miners' revenue that day. Although fees have recently fallen back to levels similar to mid-2023, there has been an upward trend recently. The increase in transaction fees shows that the feasibility of the transformation of miners' income structure is that the future sustainability of Bitcoin depends on fees, which will inevitably require a transformation of the income structure once all Bitcoins are mined.