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Bitcoin runes dominate Bitcoin blockchain activity, with more than 81% of Tuesday’s transactions being rune etchings, according to a Dune report. Regular Bitcoin transactions accounted for 19% of transactions, with BRC-20 tokens and Ordinals coming in third and fourth with 0.2% and 0.1% respectively.
Breaking News: Runes accounted for 72.7% of all Bitcoin transactions in the last 24 hours.
— Ord.io (@ord_io) April 24, 2024
According to the Dune dashboard, there were 750,428 Runes transactions on Tuesday, followed by 174,475 “Good old BTC” transactions. There were 1,392 BRC-20 transactions, followed by 715 Ordinal transactions.
Rune also accounted for 64% of fees collected on Tuesday at 2,075 BTC, bringing total fees to approximately $133 million.
According to the report, since the launch of the Rune protocol along with the Bitcoin halving, 692,480 users have etched 7,995 runes, with a total of 3.1 million transactions involving runes.
For example, on Wednesday, rune collection DOG·GO·TO·THE·MOON (DOG) airdropped 100 billion runes to eligible wallets, giving it a market capitalization of 336 billion, according to data from Bitcoin rune marketplace Magic Eden. We raised ten thousand dollars.
The novelty of the runes has been a factor in the surge in activity, but so has competition to be one of the first to etch runes, which are believed to command higher prices due to their rarity and age. .
“For reference, uncommon SATs sell for $200 to $500 depending on market changes. The rare totes we have seen can go for up to 3 Bitcoin ($193,242),” Luxor mining pool CEO Nick Hansen previously said. decryption. “But it’s a logarithmic scale.
“We think the epic will most likely reach $4 million to $6 million. This is probably market value,” Hansen continued.
Edited by Ryan Ozawa.
