Introduced with great fanfare on April 20, coinciding with Bitcoin's much-hyped fourth halving, Runes quickly captivated the crypto community. Their launch spurred a heated debate mirroring the controversy seen with Bitcoin Ordinals. Initial excitement was palpable: Runes transactions astonishingly made up 57.7% of all Bitcoin transactions on launch day. However, this dominant presence rapidly waned. By May 20, their share of fees dropped dramatically to 8.7%. So, what lasting impact will Runes have on the Bitcoin ecosystem?...
30 days of Runes: Interest fizzles after spectacular launch 30 days of Runes: Interest fizzles after spectacular launch
Despite early excitement, Runes' dominance has stabilized, reflecting patterns seen with Bitcoin Ordinals.
3 min read
Updated: May. 22, 2024 at 1:27 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ordinals serve as a unique numbering scheme for satoshis, allowing users to track and transfer individual sats.
