Messari BTC Q1 Status Report: The number of inscription transactions and fees decreased by 40% and 60% month-over-month, and the halving will bring the launch of the Runes token protocol and Epic sat
ChainCatcher news, Messari released the Bitcoin Status Report for Q1 2024, showing that the BTC price increased by 69% month-over-month to $71,310, reaching an all-time high as April approaches a new halving cycle.The success of Bitcoin spot ETFs is a driving factor for the price trend, with over $12 billion in inflows during the first quarter. BTC spot ETFs currently hold 831,000 BTC, worth $59 billion.Inscriptions transactions and fees decreased by 40% and 60% month-over-month. However, daily sales on NFT exchanges still exceed $10 million. The halving in April will bring the launch of the Runes token protocol and Epic sat.Miner revenue (in USD) increased by 34% month-over-month, with miners exploring inscriptions and MEV as additional sources of income. Some miners have already officially conducted bulk sales to meet the demands of Ordinals builders.The TVL of the programmable Bitcoin layer increased by 127% month-over-month. Dozens of new layers are being built to expand Bitcoin and enhance its programmability, many of which are exploring BitVM-based bridging and state verification.