Satoshi

Rune

Bitcoin ETF

Bitcoin

Since the fourth halving, Runes trading volume has exploded, opening up a new sector for Bitcoin with meme coins.
<a href="https://crypto.news/xverse-wallet-releases-guide-on-runes-preps-for-bitcoin-halving/" rel="noopener noreferrer nofollow">Runes</a> are a fungible token protocol on the Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) blockchain, allowing the network to utilize meme coins and other fungible projects.
“Runes were built for degens and memecoins, but the protocol is simple, efficient, and secure […] the protocol is self contained and has no dependencies on ordinals or inscriptions, making it extremely simple”, Casey Rodarmor, the creator of Runes and the<a href="https://crypto.news/brc-20-trading-volumes-surge-10x-since-november-2023-data-shows/" rel="noopener noreferrer nofollow"> BRC-20</a> protocols, said in a<a href="https://twitter.com/rodarmor/status/1774613900119699701?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1774613900119699701%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.coingecko.com%2Flearn%2Fwhat-are-bitcoin-runes" target="_blank" rel="noopener noreferrer nofollow"> tweet</a>.
Rodarmor took Rune #0, the genesis Rune, as he didn’t want high transaction fees fighting over the first Rune, which has the name<a href="https://magiceden.io/runes/UNCOMMON%E2%80%A2GOODS" target="_blank" rel="noopener noreferrer nofollow"> UNCOMMON•GOODS</a>. According to <a href="https://community.magiceden.io/learn/runes-guide" target="_blank" rel="noopener noreferrer nofollow">Magic Eden</a>, Runes are numbered in chronological order in which they are etched or minted and have distinct symbols to differentiate each Rune.
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 If you guys can meme <a href="https://twitter.com/search?q=%24DOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$DOG</a> to $1B then enough people will start paying attention that its cuteness will take us mainstream The exact point where the super edgy crypto native memes cap out is where <a href="https://twitter.com/search?q=%24DOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$DOG</a> really starts cooking People can make fun of <a href="https://twitter.com/search?q=%24DOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$DOG</a> all they want but <a href="https://twitter.com/search?q=%24DOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$DOG</a> was… <a href="https://t.co/xsggDkwdUa" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/xsggDkwdUa</a>— Leonidas (@LeonidasNFT) <a href="https://twitter.com/LeonidasNFT/status/1783401459029020946?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">April 25, 2024</a>
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The most hyped Rune with a 24-hour trading volume of $5.9 million is Rune #3, <a href="https://magiceden.io/runes/DOG%E2%80%A2GO%E2%80%A2TO%E2%80%A2THE%E2%80%A2MOON" target="_blank" rel="noopener noreferrer nofollow">DOG•GO•TO•THE•MOON</a>, which has a current price of $0.0032. This collection was airdropped to holders of the Runestone BRC-20 token post-halving, which reached a peak floor of $5,890. DOG•GO•TO•THE•MOON currently has a $354 million market cap, with a cult-like following on <a href="https://twitter.com/LeonidasNFT/status/1783401459029020946" target="_blank" rel="noopener noreferrer nofollow">X</a> due to it being the first Rune <a href="https://crypto.news/tag/meme-coin" rel="noopener noreferrer nofollow">meme coin</a> on Bitcoin.
<a href="https://magiceden.io/runes/RSIC%E2%80%A2GENESIS%E2%80%A2RUNE" target="_blank" rel="noopener noreferrer nofollow">RSIC•GENESIS•RUNE</a>, Rune #8 is currently priced at $0.0103, with a 24-hour trading volume of $1.12 million and a $211 million market cap. RSIC is an initiative to mine Rune coins as a game with different seasons and a <a href="https://runecoin.io/" target="_blank" rel="noopener noreferrer nofollow">leaderboard</a> for top miners.
Rune #6, <a href="https://magiceden.io/runes/SATOSHI%E2%80%A2NAKAMOTO" target="_blank" rel="noopener noreferrer nofollow">SATOSHI•NAKAMOTO</a>, has a 24-hour trading volume of $618,300 and has a $79.4 million market cap. The price currently sits at $3.78 and even has a 21 million supply, paying homage to Satoshi Nakamoto, the inventor of Bitcoin.
According to <a href="https://magiceden.io/runes" target="_blank" rel="noopener noreferrer nofollow">Magic Eden</a>, five days post-halving, the Runes protocol has already generated a $650 million market cap and millions in revenue for Bitcoin miners.
Read more: <a href="https://crypto.news/us-sec-postpones-decision-on-spot-bitcoin-etf-options/" rel="noopener noreferrer nofollow"> US SEC postpones decision on spot Bitcoin ETF options </a>

Runes volume rises with Bitcoin gaining meme coin utility

crypto.news

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