#Runes符文 #Runestone #HotTrends
In the past two days, the rune stone fell back to the pre-FOMO price of 0.022 BTC, nearly 1,500 US dollars, and the stone NFT once rose to 0.08 BTC.
Some group members played inscriptions last year, and their Bitcoin wallet addresses were active. Some received several or even dozens of Rune Stones.
The rune market is booming, and holding the stones can bring in thousands or tens of thousands of dollars in profit. Add to that the airdrops for rune stone holders, and you can really make a fortune.
Last year, I made a lot of money by playing inscriptions and participating in new gameplay. This year, I continue to participate in runes and am one of the first people to try it out.
Last year, the threshold for playing inscriptions was relatively high, so it was only a game for a certain group of people; this year, playing runes is the same group of people continuing the game.
Those who have not entered the market continue to wait and see. I am afraid of losing money and I don’t understand it. I have never played a rune. Especially recently, the gas price has risen sharply. The gas fee for playing a rune is ridiculously expensive, so I can’t bear to do it.
Chu Xiaolian is in a small group of several people. They study the BTC ecosystem every day, from the early days of inscriptions to the recent runes, analyzing on-chain data and popular projects. They hold voice conferences every two days to summarize, analyze, and continue.
Everyone is analyzing and understanding the project, working hard to make money, and being meticulous.
Of course, it’s never too late to start learning. I just started to understand what runes are these few days?
Rune is a new protocol for creating fungible tokens on the Bitcoin chain.
Simplifies the creation and management of fungible tokens by using Bitcoin’s UTXO (unspent transaction output) model and the OP_RETURN opcode.
The Rune Protocol allows users to deploy and issue various MEMEcoins on the Bitcoin chain more conveniently and quickly, expanding the practicality of the Bitcoin network and allowing all users to participate fairly.
Both the Rune Protocol and the Ordinals Protocol were proposed by Casey Rodamor. The Rune Protocol is an upgrade and transformation of the Ordinals Protocol.
Rune is native to Bitcoin's UTXO model, minimizing the generation of junk UTXOs, enabling more efficient UTXO management and a simpler on-chain footprint.
Different from the fair launch of BRC20, rune deployers can also set up a whitelist for rune casting, or require certain thresholds and identities, or addresses holding designated tokens and NFTs to participate. A certain casting share can also be reserved.
How to cast (make) runes?
The first step is to create a Bitcoin wallet. Commonly used ones include Unisat, OKX, Xverse, Leather, etc. After creating a Bitcoin wallet, transfer BTC from the exchange to the wallet.
On which platforms do you play runes?
MINT can be used on platforms such as OKX, unisat, and dotswap. For example, on the dotswap platform, you can trade multiple cards at a time, and the gas fee will be relatively cheaper.
Some runes that have been deployed and completed can also be purchased on secondary markets such as OK.
However, it is uncertain whether the runes produced will become popular, especially since the gas price has been so high recently. If no one takes over and continues to play, the gas fee will be wasted and the runes produced will become worthless memes.
Especially when some popular runes start to be cast, gas fees are charged, sometimes hundreds of dollars are needed to cast successfully, which increases the cost of casting.
For example, rune No. 1 is “Z•Z•Z•Z•Z•FEHU•Z•Z•Z•Z•Z”, which is a string of strange symbols. The names of the various runes are varied and you can get confused if you are not careful.
Rune No. 1 was deployed on April 20, with a total transaction volume of 9.71 BTC, more than 640,000 US dollars, and more than 21,000 addresses holding coins.
I don’t know if these strangely named runes are just a wave of popularity, or if they will continue to become popular in some unexpected way?
I don’t know whether the rune market will continue to explode in the future and how big the opportunities are. I am also hesitating whether to take over.
Everyone can only earn money within their cognition. Any new attempt also requires capital. It is possible that you invest 10,000 US dollars and finally make a profit, or it is possible that your investment will be reduced to zero.
Some people say that the bull market in 2024 will be a "bull market where no one takes over from each other". Different tracks, platforms, institutions, communities, and different projects will not take over from each other. It is just a game of existing stocks. It depends on who can stay in the end.
There are more and more ways to play in the market, and opportunities and risks are everywhere.
The above is just my personal opinion, not investment advice. I am Chuxiaolian, and I am paying attention to the crypto market and web3.
