The Bitcoin Runes protocol, designed to enable the creation of fungible tokens on the Bitcoin blockchain, has experienced a significant decline in activity and fees just one month after its launch. Despite initial hype, the protocol has not met expectations, with many users expressing disappointment. However, some market participants remain optimistic about the utility of Runes and their potential future applications. Notably, the market caps of tokens like Dog and Runecoin have seen some positive movement, with Dog increasing from $0.0022 to $0.0031 and Runecoin from $0.06 to $0.1. The overall market cap of fungible tokens on the Bitcoin blockchain remains below $1 billion, while Bitcoin's market cap stands at $1.3 trillion. There are also reports of ATHs incoming and celebrations of important milestones as some entities onboard.
Runes did not live up to the hype at launch. However, I believe there is upside as memecoins on BTC, the top one still being under 500 M market cap. Holdings: ▣ PUPS•WORLD•PEACE ▣ MAGIC•INTERNET•MONEY ▣ EPIC•EPIC•EPIC•EPIC ▣ WANKO•MANKO•RUNES ▣ RSIC•GENESIS•RUNE
Runes are coming . . . https://t.co/ZATjpTtcRb
Runes, the new token standard for fungible tokens on #Bitcoin, has seen its onchain activity and fees decline steeply just one month after it launched. @httpsageyd reports. https://t.co/WL70xOqicG
We're proud to be onboard and excited about what's yet to come 🚀 Congratulations on reaching this important milestone, @runes_terminal! https://t.co/GIh9gwqEzi
Runes market large caps $Dog & $Runecoin experience turns of tides first. 🐕: up 0.0022 USD to 0.0031 USD Runecoin: up 0.06 to 0.1 USD. Better get informed what fungible tokens (MC below 1bn USD overall) on 1.3 trillion USD Bitcoin chain mean. No excuses in a year from now! https://t.co/qbf7ZbbJuj
What are #Bitcoin Runes? In short, it's a protocol that enables the creation of fungible tokens on the Bitcoin blockchain. Learn more ⤵️ https://t.co/0hnEgOzJdx
About to get serious. Utility for runes. Utility for Bitcoin. https://t.co/hloGGHbxw9
Runes ATHs incoming Runes are dead 🫡
Runes are dead I guess… https://t.co/eRqjhCdqa2
#Bitcoin's #Runes Protocol Hype Falls Short: Significant Drop in Activity and Fees https://t.co/OJ0dBfDMTo
Runes are the past
They said #Bitcoin runes were dead https://t.co/qk7DOpyjE1