Bitcoin experiencing ‘DeFi summer’ moment as miners rake in record $100 million post-halving: Bernstein | Headlines | News | CoinMarketCap
04/22/2024 17:56
Analysts at research and brokerage firm Bernstein said Bitcoin is experiencing a “DeFi summer” moment as the new Runes token standard helps spark …
The Block Crypto News12 minutes ago
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Published on April 22, 2024 10:39 GMT+00:00edited on April 22, 2024 10:44 GMT+00:00
Analysts at research and brokerage firm Bernstein said Bitcoin is experiencing a “DeFi summer” moment as the new Runes token standard helps spark record daily miner rewards and transaction fees.
“Bitcoin is no longer a ‘plain vanilla’ blockchain anymore, where nothing happens other than holders simply ‘HODL’ BTC,” Gautam Chhugani and Mahika Sapra wrote in a note to clients on Monday. “Bitcoin is experiencing a ‘Defi summer’ like moment that Ethereum did back in 2020, where multiple decentralized apps and tokens were launched on the Ethereum blockchain, leading to splurge of liquidity and transaction fees.”
Bitcoin’s fourth halving occurred at around 0:09 a.m. UTC on April 20 (8:09 p.m. ET on April 19), reducing miners’ block subsidy rewards from 6.25 BTC to 3.125 BTC.
Bitcoin miners …