Bitcoin’s blockchain bandwidth usage surpasses 90% post-halving, driven by new token standards and increased transaction volume.

Bitcoin's blockchain bandwidth usage reaching over 90% for the first time since the halving event in April signifies a significant uptick in network activity, despite facing heightened levels of Fear, Uncertainty, and Doubt (FUD). Transaction and trading activity for Bitcoin remain robust, with adoption showing no signs of slowing down.

Dominance in Transactional Share
Cryptokoryo's chart on Dune Analytics highlights the dominance of Bitcoin in transactional share, surpassing other token standards such as Ordinals, BRC-20, and Runes. This dominance peaked at 91.4% on June 20, indicating the prevalence of Bitcoin transactions within the ecosystem.

Rise of New Token Standards
The surge in bandwidth usage can be attributed to the adoption of new token standards like Runes and BRC-20. These token standards have seen a significant increase in transactions, with Runes transactions exceeding 750,000 on April 23. Runes, in particular, have gained widespread traction for establishing fungible tokens on the BTC blockchain.

Impact of the Halving Event
The April BTC halving event, which reduced block rewards for miners by 50%, led to heightened on-chain activity. Traders and investors adjusting their positions resulted in more transactions being broadcast to the network. Additionally, the adoption of BRC-20 tokens and the rise of more complex transactions further increased the chain's bandwidth load.

Continued Momentum
Despite facing FUD and uncertainties, Bitcoin's network activity remains unfettered, indicating sustained interest and adoption. The surge in bandwidth usage underscores the resilience and growing prominence of Bitcoin within the cryptocurrency ecosystem. As the ecosystem continues to evolve, the adoption of new token standards and the impact of major events like halving events will shape Bitcoin's trajectory in the years to come.