According to Cointelegraph, the Runes protocol on Bitcoin generated $162.4 million in fees in four months, with more than 15.6 million transactions. Dune Analytics data shows that daily transaction volume often exceeded 300,000 in the first two months.

On April 23, Runes users accounted for 81.3% of the total Bitcoin network bandwidth, with investors conducting more than 1 million transactions through minting, etching, transferring, and issuing fiat.

NFT marketplace Magic Eden has announced the launch of its native token, which aims to enhance cross-chain transactions, integrate decentralized applications, and drive the expansion of its NFT platform. The platform said the token will improve DApps by facilitating cross-chain transactions.

After the most expensive CryptoPunk NFT changed hands, Web3 professionals speculated that the value of the work had dropped significantly. SideShift.ai CEO Andreas Brekken believed that this either meant that "NFTs are over" or that "the market has bottomed out."

Despite the negative comments, seven-day sales of NFT collectibles rose after a series of declines this year. CryptoSlam data showed that sales increased on Ethereum, Solana, Polygon and Mythos Chain in the week before August 26.

However, Bitcoin-based NFT sales fell slightly, down 7.01%. In addition, the number of weekly NFT buyers surged, with data showing more than 500,000 buyers in the week before August 26, an increase of 37%.