Post-Halving Event Yields Bitcoin’s Highest Value Blocks

• Nine of ten highest-value Bitcoin blocks mined post-April 2024 halving.
• Accidental overpayment in November 2023 resulted in a $3 million transaction fee.
• Bitcoin price stable post-halving, trading at $65,166 with slight weekly increase.

Clark Moody, a notable user of X, has recently provided information regarding the most valuable blocks of Bitcoin , primarily mined after the highly anticipated Bitcoin Halving. Out of the ten highest-value blocks in Bitcoin’s history, nine were created post-halving, with the remaining one being the consequence of an accidental overpayment of $3 million in November.

The Bitcoin halving was completed without a hitch on the evening of April 19, 2024, and it had a considerable effect on the entire cryptocurrency market. A post by Chinese cryptocurrency reporter Colin Wu disclosed that due to the production of Runes, the average earnings for each block on the network climbed to 21.74 BTC. Additionally, each block’s average transaction fee reward increased to 18.62 BTC.

It has been reported that the initial block following the halving secured total fees and rewards amounting to $2.6 million. Subsequent blocks had values ranging from $1.3 million to $2 million.

Nonetheless, the most significant block in terms of value remains the one involving an overpayment accident of $3 million. In November 2023, a Bitcoin user mistakenly paid 83.65 BTC, valued at over $3.1 million, to move 55.77 BTC worth $2.1 million. The balance before the transaction was 139.42 BTC, valued at $5.2 million, and the user’s overpayment was 120,528 times more than necessary, which is over six times higher than the previous record high fee of $500k.

Typically, the miner who successfully mines the first block after a halving is recognized as one of the four “epic sats.” These epic satoshis, generated during each Bitcoin halving, are considered to be 100 times more scarce than the “rare sats.”

In the meantime, Bitcoin’s price has remained fairly stable post-halving. Its current trading price is $65,166, marking an uptick of 1.61%. Over the preceding week, the digital currency has seen a modest rise of 0.70% despite a decrease of 2.73% over the past month.