Tokens on the Runes Protocol are down from their peak, but don't count them out yet. The protocol is less than three months old — and it's just getting started.). In addition to marking the fourth halving of the world's largest blockchain, it also signalled the launch of the Runes Protocol, currently the most popular for creating fungible tokens on Bitcoin.), this practice is relatively new for Bitcoin, only becoming popular in 2023.
This directly impacts interest in Runes standard tokens. Although they live within Bitcoin, they fall under the"altcoins" classification, which is not attracting wide interest from the market at the moment. For years, dog-themed tokens ruled the meme coin market across all networks, and now Bitcoin has a dog to call its own.DOG currently represents around 40% of the entire market capitalization of Runes tokens — with a value of around $600 million — and is held by more than 70,000 on-chain holders. Its dominance highlights the growth potential of the sector.
Now the next major market speculation is the creation of a journey similar to a decentralized exchange like Uniswap or Jupiter. There are no clear predictions for this to happen, but it can be said that the infrastructure is being developed at an accelerated pace for a type of asset that did not exist three months ago.In addition to native players and on-chain developments, centralized exchanges are also gradually embracing Runes standard assets.
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