Runes
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Activity in #Runes Dropped by 90% 📉
Over the past week, miners earned less than 2 #BTC☀ from runes. 🤷
For example, on April 24, their profit was 884 $BTC .
The number of #transactions in $RUNE has also dropped by nearly 90%.🧐
#MiCA #IntroToCopytrading
Over the past week, miners earned less than 2 #BTC☀ from runes. 🤷
For example, on April 24, their profit was 884 $BTC .
The number of #transactions in $RUNE has also dropped by nearly 90%.🧐
#MiCA #IntroToCopytrading
Runes Transactions on Bitcoin Plummet Over 88% in June: Here's Why It Matters
Runes, a new token standard on the Bitcoin blockchain, has experienced a dramatic 88% drop in daily transactions this month.
Key Points:
- Major Decline: According to Dune Analytics data from Crypto Koryo, the average daily Runes transactions fell from 331,040 between June 9-15 to just 37,820 from June 22-28.
- Record Low: June 24 saw only 23,238 transactions, the lowest since Runes launched during Bitcoin’s fourth halving on April 20.
- Bitcoin Transactions: Runes transactions have comprised only 4.9-11.1% of all Bitcoin transactions over the past week.
- Impact on Miner Fees: This sharp decline has significantly impacted Bitcoin miner fees, which dropped from 884 Bitcoin on April 24 to less than 2 Bitcoin over the last six days.
- Ordinals and BRC-20: Fees from Ordinals inscriptions and BRC-20 tokens have also been low, failing to provide the anticipated revenue boost for miners.
The decline in Runes transactions highlights the volatility and unpredictability in trading volumes of new token standards on the Bitcoin blockchain. Initially seen as a potential revenue stream for miners, the decreased activity has left miners struggling to compensate for the 50% block subsidy reduction following the halving event.
#BTC #Runes #bitcoin #VanEck_SOL_ETFS #ETH_ETFs_Approval_Predictions $BTC
Runes, a new token standard on the Bitcoin blockchain, has experienced a dramatic 88% drop in daily transactions this month.
Key Points:
- Major Decline: According to Dune Analytics data from Crypto Koryo, the average daily Runes transactions fell from 331,040 between June 9-15 to just 37,820 from June 22-28.
- Record Low: June 24 saw only 23,238 transactions, the lowest since Runes launched during Bitcoin’s fourth halving on April 20.
- Bitcoin Transactions: Runes transactions have comprised only 4.9-11.1% of all Bitcoin transactions over the past week.
- Impact on Miner Fees: This sharp decline has significantly impacted Bitcoin miner fees, which dropped from 884 Bitcoin on April 24 to less than 2 Bitcoin over the last six days.
- Ordinals and BRC-20: Fees from Ordinals inscriptions and BRC-20 tokens have also been low, failing to provide the anticipated revenue boost for miners.
The decline in Runes transactions highlights the volatility and unpredictability in trading volumes of new token standards on the Bitcoin blockchain. Initially seen as a potential revenue stream for miners, the decreased activity has left miners struggling to compensate for the 50% block subsidy reduction following the halving event.
#BTC #Runes #bitcoin #VanEck_SOL_ETFS #ETH_ETFs_Approval_Predictions $BTC
🚨📉 _Breaking News!_ 🤯
_Runes Transactions on Bitcoin Plummet!_ 🪙
_Volume Sees Staggering 88% Decline This Month!_ 📊
_Miners' Runes Revenue Dries Up!_ 💸
_Less Than 2 Bitcoin Collected in 6 Days!_ 🤯
_Sharp Contrast to April 24's 884 Bitcoin Haul!_ 📈
_Runes on Bitcoin: A Dramatic Fall from Grace!_ 🌪️
Feel Free to Reach out us 👉TG@ItxAP117
For signals📶🚦
#Runes #Bitcoin #MinerRevenue #CryptoMarketVolatility #apCryptoCalls
$BTC
_Runes Transactions on Bitcoin Plummet!_ 🪙
_Volume Sees Staggering 88% Decline This Month!_ 📊
_Miners' Runes Revenue Dries Up!_ 💸
_Less Than 2 Bitcoin Collected in 6 Days!_ 🤯
_Sharp Contrast to April 24's 884 Bitcoin Haul!_ 📈
_Runes on Bitcoin: A Dramatic Fall from Grace!_ 🌪️
Feel Free to Reach out us 👉TG@ItxAP117
For signals📶🚦
#Runes #Bitcoin #MinerRevenue #CryptoMarketVolatility #apCryptoCalls
$BTC
UniSat has officially launched Runes on its social platform.
#unisat #Runes #bitcoinhalving #BullorBear #Megadrop
#unisat #Runes #bitcoinhalving #BullorBear #Megadrop
#Write2earn #Runes Protocol: Hype Fades as User Engagement Declines in #Bitcoin Ecosystem
$ORDI $BTC #RunesLaunch
User engagement has taken a nosedive following a period of heightened anticipation surrounding the launch of the Runes protocol, which some hoped would replicate Solana's thriving meme coin ecosystem.
Activity within the Bitcoin Runes protocol has noticeably slowed over the past week, indicating a struggle to gain significant traction among users despite an impressive debut last month. Runes builds upon the Ordinals protocol, aiming to make transactions even more cost-effective and rapid. Ordinals involve embedding data into the Bitcoin blockchain by incorporating references to digital art within small Bitcoin-based transactions.
Amidst much anticipation, Runes went live after Bitcoin's fourth halving on April 20. Data from Dune Analytics reveals that within its initial 10 days, the protocol saw over 85,000 token issuances and generated more than $3 million in fees.
However, over the past fortnight, all metrics, including fees, new Runes, and user activity, have plummeted by over 50%. Since May 1, only around 5,000 new Runes have been issued, resulting in just under $100,000 in fees.
At its peak, Runes dominated transactions and fees across the broader Bitcoin ecosystem, accounting for up to 80% of all network activity. Now, that figure has dwindled to 20%. It's essential to note that this decline coincided with a general market downturn marked by decreasing Bitcoin prices and sluggish growth in alternative tokens, potentially impacting sentiment towards innovative technologies.
Tailored for meme enthusiasts and daring traders, Runes garnered substantial attention on social platforms ahead of its launch. Creator Casey Rodamor aimed to position it as a protocol ripe for meme coin trading and "degen" traders. Some industry insiders anticipated that the protocol would emulate the thriving meme coin landscape on blockchains like Solana and Base, which likely fueled interest and speculation on obscure memes.
$ORDI $BTC #RunesLaunch
User engagement has taken a nosedive following a period of heightened anticipation surrounding the launch of the Runes protocol, which some hoped would replicate Solana's thriving meme coin ecosystem.
Activity within the Bitcoin Runes protocol has noticeably slowed over the past week, indicating a struggle to gain significant traction among users despite an impressive debut last month. Runes builds upon the Ordinals protocol, aiming to make transactions even more cost-effective and rapid. Ordinals involve embedding data into the Bitcoin blockchain by incorporating references to digital art within small Bitcoin-based transactions.
Amidst much anticipation, Runes went live after Bitcoin's fourth halving on April 20. Data from Dune Analytics reveals that within its initial 10 days, the protocol saw over 85,000 token issuances and generated more than $3 million in fees.
However, over the past fortnight, all metrics, including fees, new Runes, and user activity, have plummeted by over 50%. Since May 1, only around 5,000 new Runes have been issued, resulting in just under $100,000 in fees.
At its peak, Runes dominated transactions and fees across the broader Bitcoin ecosystem, accounting for up to 80% of all network activity. Now, that figure has dwindled to 20%. It's essential to note that this decline coincided with a general market downturn marked by decreasing Bitcoin prices and sluggish growth in alternative tokens, potentially impacting sentiment towards innovative technologies.
Tailored for meme enthusiasts and daring traders, Runes garnered substantial attention on social platforms ahead of its launch. Creator Casey Rodamor aimed to position it as a protocol ripe for meme coin trading and "degen" traders. Some industry insiders anticipated that the protocol would emulate the thriving meme coin landscape on blockchains like Solana and Base, which likely fueled interest and speculation on obscure memes.
UniSat is preparing to introduce support for Runes with several features:
🔸UniSat Wallet for Runes
🔸UniSat Inscribe for Runes
🔸UniSat Marketplace for Runes
The testnet support for Runes is set to launch on April 16th, and the mainnet support is expected to go live at Bitcoin block 840000, around April 19th.
#UniSat #UnisatUpdate #Runes #BinanceLaunchpool #BullorBear
🔸UniSat Wallet for Runes
🔸UniSat Inscribe for Runes
🔸UniSat Marketplace for Runes
The testnet support for Runes is set to launch on April 16th, and the mainnet support is expected to go live at Bitcoin block 840000, around April 19th.
#UniSat #UnisatUpdate #Runes #BinanceLaunchpool #BullorBear
Runes, a new way to create tokens on Bitcoin, has exploded in popularity. Since its launch in April, Runes transactions have made up over two-thirds of all Bitcoin activity, with a peak of 750,000 transactions in a single day. This surge is attributed to enthusiasts using Runes to create "rare satoshis" on the Bitcoin blockchain.
However, Runes' dominance comes with concerns. The high volume of transactions is pushing up miner fees and raising questions about network congestion. Critics, like Blockchair developer Nikita Zhavoronkov, argue that Runes are diverting Bitcoin from its original purpose of peer-to-peer cash.
Furthermore, the long-term viability of Runes as a revenue stream for miners is unclear. While Runes transactions contribute significantly to fees now, the gap between transaction volume and fees earned suggests this might not be sustainable.
Overall, Runes represent an innovative way to utilize the Bitcoin network. But questions remain about its impact on transaction costs, network congestion, and its ability to provide a stable income for miners
#bitcoin #Runes #btc #Megadrop
However, Runes' dominance comes with concerns. The high volume of transactions is pushing up miner fees and raising questions about network congestion. Critics, like Blockchair developer Nikita Zhavoronkov, argue that Runes are diverting Bitcoin from its original purpose of peer-to-peer cash.
Furthermore, the long-term viability of Runes as a revenue stream for miners is unclear. While Runes transactions contribute significantly to fees now, the gap between transaction volume and fees earned suggests this might not be sustainable.
Overall, Runes represent an innovative way to utilize the Bitcoin network. But questions remain about its impact on transaction costs, network congestion, and its ability to provide a stable income for miners
#bitcoin #Runes #btc #Megadrop
Can $BTC reach $100,000 before December 2024?
The introduction of the Runes protocol has led to increased demand for $BTC layer-2 (L2) solutions due to high transaction fees and network congestion. #Runes allowing creation of fungible tokens on the Bitcoin blockchain have caused a surge in Bitcoin transaction fees and congestion. This indicates a need for L2 #scaling solutions. Various #L2 solutions are emerging, such as Rootstock and the Stacks network, aiming to enhance Bitcoin's functionality and scalability. These developments promise to unlock new use cases for Bitcoin, potentially transforming its passive capital into productive assets.
Additionally, innovations like Coinweb's #smartcontracts and BitVM aim to extend the utility of tokens like Runes, while maintaining strong connections to the Bitcoin network. However, skepticism exists about the hype surrounding some L2 solutions, emphasizing the importance of genuine integration with Bitcoin ecosystem.
What do you think?
The introduction of the Runes protocol has led to increased demand for $BTC layer-2 (L2) solutions due to high transaction fees and network congestion. #Runes allowing creation of fungible tokens on the Bitcoin blockchain have caused a surge in Bitcoin transaction fees and congestion. This indicates a need for L2 #scaling solutions. Various #L2 solutions are emerging, such as Rootstock and the Stacks network, aiming to enhance Bitcoin's functionality and scalability. These developments promise to unlock new use cases for Bitcoin, potentially transforming its passive capital into productive assets.
Additionally, innovations like Coinweb's #smartcontracts and BitVM aim to extend the utility of tokens like Runes, while maintaining strong connections to the Bitcoin network. However, skepticism exists about the hype surrounding some L2 solutions, emphasizing the importance of genuine integration with Bitcoin ecosystem.
What do you think?
Bitcoin Ecosystem Evolution: A Recap of Key Developments
In recent times, the #Bitcoin ecosystem has witnessed significant developments with the emergence of protocols like #Ordinals , #BRC20 tokens, and the latest proposal, Runes.
Ordinals:
- Introduced earlier, Ordinals brought a novel concept of numbering satoshis (sats) in the order they are mined, initially applied for non-fungible tokens (NFTs) directly on the Bitcoin blockchain.
- The rise of BRC-20 tokens followed, utilizing the Ordinals protocol for fungible tokens on Bitcoin, resulting in a surge of meme tokens. However, this created network congestion due to inefficient processes and exorbitant transaction fees.
BRC-20 Tokens:
- Enabled fungible tokens on Bitcoin but faced criticism for network congestion and spamming via unused UTXOs (Unspent Transaction Outputs), clogging the Bitcoin network.
- Despite issues, BRC-20 tokens attained a market cap of $1 billion in a short span.
Runes Proposal:
- Casey Rodarmor proposed #Runes as a solution to the inefficiencies of BRC-20 tokens, aiming for a simplified and UTXO-based protocol for Bitcoin.
- Runes protocol avoids spamming #UTXOs , focusing on efficient and responsible UTXO management.
- Unlike BRC-20, Runes protocol doesn’t rely on off-chain data, native tokens, or witness-based transactions, presenting a more streamlined approach.
Comparison - Runes vs. BRC-20:
- Runes emphasizes a UTXO-based model, addressing issues of spam and inefficiency faced by BRC-20 tokens.
- BRC-20 tokens faced criticism due to network congestion, high fees, and reliance on inefficient processes, leading to the quest for alternatives like Runes.
Implications and Uncertainties:
- Runes' introduction brings potential benefits such as compatibility with the Lightning Network and improved user experience.
- Uncertainties remain regarding the widespread adoption of Runes, given the entrenched position of BRC-20 and its established network effects among users and developers.
Conclusion:
- While Runes offers a technically robust solution, the established network effects of BRC-20 and uncertainties about Runes' future pose challenges to its widespread adoption.
- Rodarmor’s proposal highlights ongoing exploration for innovative solutions in the Bitcoin ecosystem, demonstrating the importance of efficient, transparent protocols that add value to users.
---
Ordinals:
- Introduced earlier, Ordinals brought a novel concept of numbering satoshis (sats) in the order they are mined, initially applied for non-fungible tokens (NFTs) directly on the Bitcoin blockchain.
- The rise of BRC-20 tokens followed, utilizing the Ordinals protocol for fungible tokens on Bitcoin, resulting in a surge of meme tokens. However, this created network congestion due to inefficient processes and exorbitant transaction fees.
BRC-20 Tokens:
- Enabled fungible tokens on Bitcoin but faced criticism for network congestion and spamming via unused UTXOs (Unspent Transaction Outputs), clogging the Bitcoin network.
- Despite issues, BRC-20 tokens attained a market cap of $1 billion in a short span.
Runes Proposal:
- Casey Rodarmor proposed #Runes as a solution to the inefficiencies of BRC-20 tokens, aiming for a simplified and UTXO-based protocol for Bitcoin.
- Runes protocol avoids spamming #UTXOs , focusing on efficient and responsible UTXO management.
- Unlike BRC-20, Runes protocol doesn’t rely on off-chain data, native tokens, or witness-based transactions, presenting a more streamlined approach.
Comparison - Runes vs. BRC-20:
- Runes emphasizes a UTXO-based model, addressing issues of spam and inefficiency faced by BRC-20 tokens.
- BRC-20 tokens faced criticism due to network congestion, high fees, and reliance on inefficient processes, leading to the quest for alternatives like Runes.
Implications and Uncertainties:
- Runes' introduction brings potential benefits such as compatibility with the Lightning Network and improved user experience.
- Uncertainties remain regarding the widespread adoption of Runes, given the entrenched position of BRC-20 and its established network effects among users and developers.
Conclusion:
- While Runes offers a technically robust solution, the established network effects of BRC-20 and uncertainties about Runes' future pose challenges to its widespread adoption.
- Rodarmor’s proposal highlights ongoing exploration for innovative solutions in the Bitcoin ecosystem, demonstrating the importance of efficient, transparent protocols that add value to users.
---
$BTC Exciting news! Bitcoin recently reached a record-breaking milestone with over 926,000 transactions processed in a single day, driven by growing interest in Runes. Runes protocol, a token standard for creating fungible tokens on the Bitcoin network, aims to provide users with a more streamlined approach to token issuance. #Bitcoin #Runes $BTC 🚀
#Bitcoin #Memecoin DOG•GO•TO•THE•MOON Hits $500M Market Cap: What's Next for #Runes ? #DOG #BitcoinMemecoin
$BTC
In the whirlwind of the past 24 hours, the Bitcoin-inspired memecoin DOG•GO•TO•THE•MOON (DOG) has skyrocketed to a $500 million market cap after securing listings on four major centralized exchanges (CEXs).
This surge catapults DOG into the top 10 memecoins by market cap, currently holding the ninth position. Surpassing it are two hyped Solana-based memecoins — Book of Meme (BOME) and Cat in a dogs world (MEW).
As per MagicEden data, the average floor price of DOG stands at 7.7 satoshis ($0.0051). With 100 billion DOG tokens in circulation, the market cap hits $495.3 million, accompanied by a 24-hour trading volume of $7.34 million.
Born from the Runes Protocol and etched onto the Bitcoin blockchain, DOG was airdropped to eligible Runestone NFT holders on April 24th. Its recent listings on exchanges like OKX, Gate.io, CoinW, and others have amplified its reach.
Looking ahead, co-creator Leonidas hints at ambitious plans for DOG's next phase, envisioning features like collaboration with digital artist Beeple and listings on tier 1 CEXs, aiming for higher market cap targets.
Among its Runes counterparts, RSIC•GENESIS•RUNE (RSIC) boasts a market cap of $210 million with 22,255 holders, while LOBO•THE•WOLF•PUP (LOBO) follows with $56.3 million and 74,408 holders.
Since its launch on Halving Day, Runes has dominated Bitcoin blockchain transactions, with 81% of on-chain activities linked to these "etched" tokens. With the launch of Ordinals in 2023, followed by the Inscriptions and BRC-20 tokens, Runes' role in facilitating fungible token creation on Bitcoin remains pivotal. The question now: How will Runes continue to shape the game?
$BTC
In the whirlwind of the past 24 hours, the Bitcoin-inspired memecoin DOG•GO•TO•THE•MOON (DOG) has skyrocketed to a $500 million market cap after securing listings on four major centralized exchanges (CEXs).
This surge catapults DOG into the top 10 memecoins by market cap, currently holding the ninth position. Surpassing it are two hyped Solana-based memecoins — Book of Meme (BOME) and Cat in a dogs world (MEW).
As per MagicEden data, the average floor price of DOG stands at 7.7 satoshis ($0.0051). With 100 billion DOG tokens in circulation, the market cap hits $495.3 million, accompanied by a 24-hour trading volume of $7.34 million.
Born from the Runes Protocol and etched onto the Bitcoin blockchain, DOG was airdropped to eligible Runestone NFT holders on April 24th. Its recent listings on exchanges like OKX, Gate.io, CoinW, and others have amplified its reach.
Looking ahead, co-creator Leonidas hints at ambitious plans for DOG's next phase, envisioning features like collaboration with digital artist Beeple and listings on tier 1 CEXs, aiming for higher market cap targets.
Among its Runes counterparts, RSIC•GENESIS•RUNE (RSIC) boasts a market cap of $210 million with 22,255 holders, while LOBO•THE•WOLF•PUP (LOBO) follows with $56.3 million and 74,408 holders.
Since its launch on Halving Day, Runes has dominated Bitcoin blockchain transactions, with 81% of on-chain activities linked to these "etched" tokens. With the launch of Ordinals in 2023, followed by the Inscriptions and BRC-20 tokens, Runes' role in facilitating fungible token creation on Bitcoin remains pivotal. The question now: How will Runes continue to shape the game?
🚨BIGGEST MEMECOIN IN BITCOIN 🚨
don't fade this it will give you 100x bigger pump then doge
You faded $DOGE and regretted later
You faded $shib and regretted later
You faded $pepe and regretted later
You faded $dogwif and regretted later
You faded $ordi and regretted later
Now you going to fade #runes #DOG and will cry later
Don't fade #DOG
#DOG is next #DOGE already big exchange talking about #DOG writing articles about it
And they also think #DOG can flip #DOGE
Don't miss #DOG
Don't sell your #DOG for penny
Just hold for long journey
#Runes #BullorBear #BitcoinETFs #btc
don't fade this it will give you 100x bigger pump then doge
You faded $DOGE and regretted later
You faded $shib and regretted later
You faded $pepe and regretted later
You faded $dogwif and regretted later
You faded $ordi and regretted later
Now you going to fade #runes #DOG and will cry later
Don't fade #DOG
#DOG is next #DOGE already big exchange talking about #DOG writing articles about it
And they also think #DOG can flip #DOGE
Don't miss #DOG
Don't sell your #DOG for penny
Just hold for long journey
#Runes #BullorBear #BitcoinETFs #btc
Crypto enthusiasts eagerly await the Runes protocol set for halving between April 19-20, 2024.
#Runes #bitcoinhalving #BullorBear #RunesProtocol
#Runes #bitcoinhalving #BullorBear #RunesProtocol
UniSat plans to launch a testnet to support Runes, a leading digital player, according to Foresight News.
#UniSat #Runes #BullorBear #UnisatUpdate
#UniSat #Runes #BullorBear #UnisatUpdate
#Runes etched on #Bitcoin daily:
26th April, 2024: 23,061
30th April, 2024: 9,639
13th May, 2024: 157
That is an alarming 99% drop in the past 20 days!
What do you think of the future of Runes?
Will it be a sustainable trend on Bitcoin? 👇
#RunesUpdate #TrendingTopic
26th April, 2024: 23,061
30th April, 2024: 9,639
13th May, 2024: 157
That is an alarming 99% drop in the past 20 days!
What do you think of the future of Runes?
Will it be a sustainable trend on Bitcoin? 👇
#RunesUpdate #TrendingTopic
Magic Eden, a leading NFT marketplace, has expanded its support for Bitcoin Runes, following its successful investment in Bitcoin Ordinals, a popular and growing cryptocurrency.
#MagicEden #BullorBear #nft #bitcoin #Runes
#MagicEden #BullorBear #nft #bitcoin #Runes
Magic Eden, the leading community-centric NFT marketplace, plans to supports the upcoming Bitcoin Runes token standard.
#Memecoins #BullorBear #MagicEden #Runes #btc
#Memecoins #BullorBear #MagicEden #Runes #btc
Wait for 48 hour's up to 2400%
New $WIF and $SHIB Challenger Genius Dog (GENDOG) to Surge 2400% Within 48 Hours #Solana #Runes #BitcoinHalving
