alkimiya

Is Taproot Wizards triggering a new wave of BTC activity?

🪄 Status update on their recent mint
Highest median feerate: 41 sats/vb
Duration: 7 hours
Who: WL minters
Quantity: 1,750 NFTs

In the week before Taproot’s mint, median feerate fluctuated between 2 - 7 sats/vb, a 485.7% increase! Congratulations to those who swiped and claimed BTC•FEERATE•RUNES! 🎉

Despite the allocation of 1,750 NFTs for WL and 7 hours to mint, feerate jumped to 41 sats/vb. While it’s relatively low compared to past events, this significant increase caused the average median BTC feerate to move from 3.409 sats/vb to 5.559 sats/vb — a big jump in recent times for BTC.

This is interesting for speculating BTC transaction fees.

Rn, we have a few market dynamics that have significant effects over Sats/vB:

- Ordinals
- Runes
- (maybe) staking on @babylonlabs_io

with Runes activity surging due to AI memecoin narrative appealing as a beta-play. https://t.co/LPcP5Io4Ml

Will the @TaprootWizards’ NFT launch trigger a new wave of Ordinals or maybe even Runes?

We’ve seen
🗓️ Oct ‘24 Runes wave triggered by @PupsToken
🔸 Highest median feerate: 182 sats/vb

🗓️ Dec ‘24 Ordinals wave triggered by @Pizza_Ninjas
🗓️ Dec ‘24 BRC20 wave triggered by

Alkimiya⌛

Is Taproot Wizards triggering a new wave of BTC activity?

🪄 Status update on their recent mint
Highest median feerate: 41 sats/vb
Duration: 7 hours
Who: WL minters
Quantity: 1,750 NFTs

In the week before Taproot’s mint, median feerate fluctuated between 2 - 7 sats/vb, a 485.7% increase! Congratulations to those who swiped and claimed BTC•FEERATE•RUNES! 🎉

Despite the allocation of 1,750 NFTs for WL and 7 hours to mint, feerate jumped to 41 sats/vb. While it’s relatively low compared to past events, this significant increase caused the average median BTC feerate to move from 3.409 sats/vb to 5.559 sats/vb — a big jump in recent times for BTC.

https://x.com/alkimiya_io/status/1904518871471755415

After Taproot’s WL mint, there have been multiple blocks hitting above 20 sats/vb. There are no significant happenings, but it’s clear that activity on BTC have revived even for a bit.

The dutch auction for the remaining NFTs have been slated for this Thursday. All NFTs (WL-ed and auctioned) will be distributed this Friday. That’s more activity to expect in the mempool this week.

Yay feerate traders!