The Bitcoin Runes protocol initially dominated daily transactions post-launch but is now seeing a decline, with BTC reclaiming its network dominance.
Since its launch on April 20, Runes has consistently consumed the highest bandwidth on the Bitcoin network for several days. The protocol accounted for more than 50% of transactions on 13 separate days but has not reached this level in over four weeks.Bitcoin currently represents 90% of all transactions over the blockchain as shown in the above graph. Runes still maintains its dominance among the other Bitcoin protocols. On July 17, Runes represented 7.
“Runestone, RSIC, and PUPS are already pumping, promising holders shiny new Rune token airdrops. And FOMO threads keep coming. But, like the NFT frenzy post-JPEG reveal, the market could soon cool off.”
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Buying the dip? Bitcoin institutional investors add 100K BTC in a weekBitcoin institutional investors go on a 100,000 BTC buying spree amid BTC price lows.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Bitcoin miner sell pressure 'weakening' as BTC withdrawals drop 85%Bitcoin miners cool BTC withdrawals in June in what analysis says is 'weakening' Bitcoin sell pressure.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Did Bitcoin Runes already peak?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.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Runes TXs on Bitcoin have tanked over 88% this monthRunes transactions on Bitcoin have hit rock bottom, falling nearly 90% this month and now only comprise 5-11% of all Bitcoin transactions.
Source: Cointelegraph - 🏆 562. / 51 Read more »