Just one day after reaching a record average of $128, fees paid on Bitcoin have dropped significantly.
Last April 21, average fees for medium-priority transactions were just $8-10, according to mempool.space.
This is a sharp decline from the previous day, when Bitcoin recorded a total of $78.3 million in fees, outperforming Ethereum by 24 times.
For mining the Bitcoin halving block at block height 840,000, on April 20 miner ViaBTC was paid a staggering 37.7 Bitcoins ($2.4 million).
This huge demand was largely driven by memecoins and NFTs enthusiasts vying for the opportunity to enroll and record rare satoshis using the Runes protocol.