![How the Bitcoin Halving Will Drive Action to Layer 2s How the Bitcoin Halving Will Drive Action to Layer 2s](https://i1.wp.com/www.coindesk.com/resizer/CYmgFeF0TNC77uh0oSDNSFWk9Y8=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/XGRUKYFKTRBQRASPQEJ7RTTWZY.jpg?w=1200&resize=1200,0&ssl=1)
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.