Luxury fashion house Maison Margiela enters Web3 with MetaTABI

Last bitcoin halving took place last week and was quite peaceful. Before halving price Bitcoin it briefly dropped below the $60 level, but then rebounded and ended trading at a fairly flat level, around $000, during the halving itself. Bitcoin is currently trading at $65, with relatively little volatility in the overall cryptocurrency market. Although Bitcoin's price hasn't moved much since the halving, daily mining revenues have surged, exceeding $000 million for the first time on halving day. Users who wanted to be part of Bitcoin history paid much higher fees to have their transactions recorded on the 66 block. More on this below.

Publication of PCE inflation data in the US on Friday

On the macro front, the latest U.S. PCE (personal consumption expenditure) data will be released on Friday. Cryptocurrency prices have been fairly muted following recent inflation updates, but surprise data that is significantly higher or lower than forecasts could cause some volatility in the short term.

Bitcoin mining revenues reached $107 million on halving day

Daily bitcoin mining revenues hit an all-time high of $107,7 million on halving day. The average transaction fee on halving day increased to $127, while typically the average fee would range from $2 to $10.

Block 840,000, which triggered the fourth halving, saw a total of 37,626 bitcoins (about $2,4 million) in transaction fees in that block alone. With 3050 transactions recorded in block 840, this means that the average transaction fee in this block was 000 bitcoin (approximately $0,01234).

The increase in transaction fees on halving day also coincided with the launch of the Runes protocol, a new token standard for issuing fungible tokens on blockchainie bitcoin. Runes was created by Casey Rodarmor, the bitcoin programmer behind Ordinals (a protocol that allows data to be written to individual satoshis, the smallest unit of bitcoin).

More details about Bitcoin Mini Trust from Grayscale

Jak announced on the "X" platform in March, Grayscale (the asset manager behind the GBTC bitcoin spot ETF) intends to launch a new bitcoin spot ETF called the Grayscale Bitcoin Mini Trust, which will have a significantly lower fee than GBTC.

According to a recent filing with the SEC, the fee will be 0,15%, undercutting all other spot bitcoin ETFs. GBTC, which charges 1,5%, the highest management fee of any spot bitcoin ETF, has seen about $16,7 billion in outflows since converting from a mutual fund to an ETF.

If approved, the launch of this low-fee spot bitcoin ETF could give Grayscale a chance to regain some of its lost market share and encourage new investors to take advantage of its offering.

Maison Margiela enters Web3 with MetaTABI

In collaboration with premium digital fashion platform "The Fabricant", luxury fashion house Maison Margiela has now entered Web3 with its MetaTABI NFT collection. Tabi digital shoes can be "worn" on the Augmented Reality and Metaverse platforms The Sandbox and Ready Player Me. In addition to Tabi digital shoes, NFT will come with physical items, with limited edition handmade Tabi shoes for 15 Tier 1 NFTs and 1500 black leather wallets for Tier 2 NFTs.

Moreover, both MetaTABI White and MetaTABI Black levels represent Mint-Pass, which offers priority access to all upcoming projects that Maison Margiela reveals as part of its Web3 journey.