Bitcoin, which is an important turning point for the cryptocurrency world, completed its fourth halving last night around 03:00 Türkiye time. The event, highly anticipated by the entire crypto community, took place at a height of 840,000 blocks.
BTC, which was around $64,000 during the halving, is trading at almost the same levels at the time of writing this article.
As a result of the halving, the BTC block reward was reduced from 6.25 BTC to 3,125 BTC. The reward for block 840,000 went to ViaBTC.
However, the halving caused some congestion in the Bitcoin network. The current minimum transaction fee on the network exceeds 1,050 sat/etc, or approximately $94. Additionally, there are more than 237,000 transactions awaiting approval, and memory usage has exceeded 300 MB, reaching 1.15 GB. This blockage was further exacerbated when the concept of runes came into use and new runes were minted.
On the other hand, Bitcoin spot ETFs saw net inflows totaling $59.55 million yesterday, marking the first net inflows following net outflows over the past five days. Among them, Grayscale ETF GBTC experienced a net outflow of $45.82 million, while Fidelity ETF FBTC and BlackRock ETF IBIT experienced a net inflow of $54.77 million and $29.27 million, respectively.
*This is not investment advice.