Bitcoin Runes hype fades, transactions plummet 84%
Bitcoin Runes protocol caused an initial surge in Bitcoin transactions, exceeding 50% at its peak. Did the hype clog clear out?
The Bitcoin Runes protocol is struggling to maintain its share of Bitcoin transactions. Since its launch on April 20, Runes transactions have dominated Bitcoin blockchain traffic on eight different days, mostly during the weekends.
The Bitcoin Runes launch coincided with the fourth Bitcoin halving. The resultant hype saw transaction volume shoot up on the Bitcoin blockchain. Revenue from Bitcoin
tickers down
$68,716
mining exceeded the $100 million mark for the first time, recording an all-time high daily earnings of $107.7 million.