The launch of Runes, a new protocol that enables the creation of meme coins on Bitcoin, coincided with the halving. Already hundreds of tokens have launched, contributing over $80 million in fees to bitcoin miners. This increased trading activity has also driven up the costs associated with sending a transaction on Bitcoin, with the current average price over $70, an increase of 1,395.8% over the trailing 30 day average, according to TokenTerminal.