Runes have accounted for 68% of all Bitcoin transactions since launch

Runes, the new standard token on Bitcoin, have accounted for more than two-thirds of Bitcoin transactions since their launch following the Bitcoin halving event on April 20. According to data from the Dune Analytics dashboard shared by blockchain research firm Crypto Koryo, the Bitcoin network has processed more than 2.38 million Runes transactions, accounting for 68% of all Bitcoin transactions since their launch on April 20. Regular Bitcoin peer-to-peer transactions, BRC-20, Ordinals, and Runes are all included in the total transaction count.

Runes peaked on April 23 with more than 750,000 transactions that day, but the next day the volume halved to 312,000 transactions. At block 840,000, much of Rune's initial demand came from Meme coins and NFT enthusiasts who competed to inscribe and etch "rare Satoshis" through the Rune protocol. As a result, Rune transactions contributed nearly 70% of mining fees on the day of the halving. Since then, the daily figures have fluctuated between 33% and 69%.