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Alkanes accounted for 61.1% of Bitcoin transactions over 90 days

SUBFROST said Alkanes also used 40.3% of block space by weight and generated 13.4% of transaction-fee revenue in the June 23 to Sept. 20 window.

Reported · Written up by our desk · Market Structure

Bitcoin metaprotocol Alkanes accounted for 61.1% of all Bitcoin transactions over a 90-day period ending in September, according to data published by SUBFROST and reported by Bitcoin Magazine.

SUBFROST said the Alkanes share covered the June 23 to Sept. 20 window across blocks 954,917 through 967,918, totaling about 59.9 million transactions.

In the same period, SUBFROST said Alkanes used 40.3% of block space by weight, 94.2% of OP_RETURN bytes, and 13.4% of transaction-fee revenue.

Bitcoin Magazine also noted that Alkanes builds on top of the Runes protocol and is maintained by SUBFROST, a U.S.-facing company led by co-founder Gabe Lee.

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