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30 days of Runes: Interest fizzles after spectacular launch 30 days of Runes: Interest fizzles after spectacular launch

30 days of Runes: Interest fizzles after spectacular launch

with insights from Dune Analytics

Despite early excitement, Runes' dominance has stabilized, reflecting patterns seen with Bitcoin Ordinals.

30 days of Runes: Interest fizzles after spectacular launch

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

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?...