๐๐๐ #bitcoin Runes Resurgence? Why Asiaโs Institutional Investors Could Fuel Growth
In the world of crypto, the Runes protocol's rise and fall have been swift and dramatic. Launched alongside the Bitcoin halving in April, it quickly gained attention but failed to meet expectations, leading many to dismiss it as a failed endeavor.
However, amidst waning interest in the West, Runes is finding renewed excitement in East Asia. Institutional investors and centralized building teams see it as a more refined alternative to the earlier #BRC20 standard, offering enhanced security, scalability, and usability.
Unlike the chaotic debut of BRC-20 tokens in 2023, Runes was rolled out meticulously by a team led by Casey Rodarmor, the original creator of the Ordinals protocol. This methodical approach has resonated with investors in East Asia, who see Runes as a potential infrastructure cornerstone for the crypto industry.
Investment firms like the Hong Kong-based Newman Group are actively supporting Runes' development, citing its technical advantages and potential for efficient cross-chain transactions. Major players in the crypto space, such as Magic Eden and #OKX , have also thrown their weight behind the protocol.
Despite its initial setbacks, Runes has shown signs of resurgence, with transaction volume and market capitalization surging in late May. This comeback has fueled optimism among institutional investors in East Asia, who view Runes as a key player in mainstreaming fungible Bitcoin tokens.
While the road ahead for Runes is uncertain, its growing support in East Asia suggests that it may yet carve out a significant niche in the crypto ecosystem. As the choice between Runes and BRC-20 becomes clearer, the momentum behind Runes continues to build, signaling a potential second act for the protocol.
Source - decrypt.co
