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Bitcoin’s Top Most Valuable Blocks Are Mined After Halving Event: Report

Published 21/04/2024, 14:04
© Reuters.  Bitcoin’s Top Most Valuable Blocks Are Mined After Halving Event: Report

Coin Edition -

  • Clark Moody shares insights on the 9 top most valuable blocks that were mined following the Bitcoin Halving.
  • The most valuable block was mined last November as a result of an accident $3 million overpayment.
  • Miners of the first block after halving are known as epic sats and are 100x times rarer than the rarer sats.

A prominent X user, Clark Moody, recently shared insights on Bitcoin’s top most valuable blocks, which were mined following the much-awaited Bitcoin Halving event. While nine of the 10 most valuable blocks in Bitcoin history were mined after the halving event, one was the result of an accident $3 million overpayment last November.

The Bitcoin halving was successfully completed late on April 19, 2024, significantly impacting the whole crypto market. Chinese crypto journalist Colin Wu’s X post revealed that the Runes minting has resulted in the average revenue per block on the network reaching 21.74 BTC. Also, the transaction fee reward per block rose as high as 18.62 BTC.

Reportedly, the first halving block captured a total fee and block rewards of $2.6 million. Meanwhile, other blocks were worth $1.3 million to $2 million.

However, the $3 million accident overpayment still remains the most valuable block. In November 2023, a BTC user accidentally paid 83.65 BTC worth more than $3.1 million to transfer 55.77 BTC ($2.1 million). The pre-transaction balance was 139.42 BTC ($5.2 million), and the user overpaid by 120,528 times, surpassing the previous high fee of $500k by more than 6 times.

Usually, one who mines the first block at the halving is entitled as one of the four “epic sats.” These epic sats, or satoshis created during every Bitcoin halving, are 100x rarer than the “rare sats.”

Meanwhile, Bitcoin remains relatively stable following the halving event. It is currently trading at $65,166, an increase of 1.61%. Over the past seven days, the cryptocurrency has experienced a slight increase of 0.70% despite a 2.73% decline in one month.

The post Bitcoin’s Top Most Valuable Blocks Are Mined After Halving Event: Report appeared first on Coin Edition.

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