Major Transformation on the Bitcoin Network: Capturing 70 Percent of Transactions

The Runes protocol, which constitutes a large portion of the transaction traffic on the Bitcoin network, is transforming the network’s economic structure by securing a significant share of miner revenues.

Bitcoin, the leading network in the cryptocurrency world, has recently been experiencing a new wave of activity with the Runes protocol. Current data shared by on-chain data analytics platform Glassnode reveals that approximately two-thirds of transactions on the network originate from Runestones. This situation demonstrates that the Bitcoin network is expanding beyond being just a store of value by incorporating different use cases.

According to the data, this new protocol accounts for more than 70 percent of transactions on the network on many days. There is a significant increase not only in the number of transactions but also in miner transaction fees. Recently, approximately 25 percent of daily Bitcoin transaction fees consist of commissions paid through Runestones. This ratio proves how dominant Runes has become in the network’s economic structure.

Runes’ Impact on Bitcoin Network Fees

In recent months, transaction fees associated with Runes have performed steadily, staying above 10 percent of total fees. On some days, this ratio even exceeded 30 percent. Looking at Glassnode charts, the number of new Runestones has reached levels as high as 68.6 percent based on a 7-day moving average. This increase shows that block space on the network is not just being filled, but that there is also significant competition for this space.

Experts are closely monitoring how sustainable this intense demand is. According to current data, a limited number of wallet addresses are behind this massive transaction volume. If this demand spreads to the broader base, transaction fee dynamics on the Bitcoin network could change permanently. For now, Runes remains one of the most remarkable elements in the Bitcoin ecosystem in terms of both transaction density and economic return.