🔮Runes, the new kid on the Bitcoin block(chain), has seen its daily transaction volume nosedive by over 88% since its peak in June. From being the belle of the ball with an average of 331,040 daily transactions, it's now the wallflower with a mere 37,820.📉

🤔On June 24, Runes recorded a low of 23,238 transactions, the lowest since its grand debut during Bitcoin's fourth halving event. This has had a ripple effect on Bitcoin miner fees, which have taken a hit post the halving event.💸

💡Runes, the brainchild of Ordinals inventor Casey Rodarmor, was hailed as a more efficient alternative for creating new tokens on the Bitcoin network. But with the recent decline in network fees and Bitcoin's price fluctuations, Bitcoin's hash price is nearing its historical low.😬

🎉On the bright side, both Runes and Ordinals managed to offset the 50% reduction in block subsidy immediately after the April 20 halving event. But since then, trading volumes have been as unpredictable as a cat on a hot tin roof.🐱‍👤

💬What's your take on this? Are Runes just going through a rough patch or is this a sign of things to come? Let's discuss in the comments! #DeFi #Web3 #Technology