BTC Q1 Status Report: Inscription transactions and fees decreased by 40% and 60% respectively, halving will bring about the launch of Runes token protocol and Epic sat

Messari released the Bitcoin status report for the first quarter of 2024, with BTC price increasing by 69% to $71,310, setting a new historical high as it approached a new halving cycle in April. The success of spot BTCETF is a driving factor for the price trend, with more than $12 billion flowing into it in the first quarter. Spot BTCETF currently holds 831,000BTC, equivalent to $59 billion. Inscription trading and fees decreased by 40% and 60% respectively. However, daily sales of NFT exchanges still exceed $10 million. The halving in April will bring about the launch of Runes token protocol and Epic sat. Miner income (in USD) increased by 34%, miners are exploring inscriptions and MEV as additional sources of income. Some miners have formally conducted bulk sales to meet the needs of Ordinals builders. TVL on programmable Bitcoin layer increased by 127%. Dozens of new layers are being built to expand Bitcoin and increase its programmability; many layers are exploring bridges based on BitVM and state verification.