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Bitcoin Runes are shaking the very foundations of the Bitcoin blockchain, turning heads and sending transaction fees blasting through the roof to a staggering $127.97 average. Want in before they hit stratospheric prices? Listen closely.
The magic began on April 20, a date Runes creator Casey Rodarmor is calling Bitcoin’s “second season.”
With the halving event coinciding, Runes launched a new fungible token standard on Bitcoin.
Building on the foundations laid by the Bitcoin ordinals protocol, Runes enables the minting of fungible tokens (aka shitcoins and memecoins), significantly broadening Bitcoin’s appeal.
The new token standard is igniting fires in the eyes of Venture Capitalists and crypto die-hards about the potential for a decentralized finance (DeFi) ecosystem built around Bitcoin.
Discussions are also underway about developing Layer 2 solutions to further enhance Bitcoin’s scalability and functionality.
Bitcoin Runes isn’t just big—it’s a ground-floor invite to the next Ordinals-like gold rush. Here are the coins to look for.
A New Era for Bitcoin and DeFi – Top 5 Runes Projects
Bitcoin Runes is rewriting the playbook, outpacing the BRC-20 standard in efficiency, which itself was a leap beyond ordinals.
The numbers speak volumes: nearly 8,000 rune projects are out now, clocking in over a million transactions.
The best-performing tokens so far, without getting lost in the weeds, for Runes are L2 sidechains, marketplaces, and bridges; these performed really well for the previous generation of ordinals.
The easiest way to mint a Bitcoin Runes project is to create a Unisat wallet for Bitcoin and go to Runedata.io. If you’re looking to buy, go to the OKX marketplace to buy them. Here are the top five Runes projects so far:
- RSIC•GENESIS•RUNE: $306.1M: Has a serious lead in total market cap among currently listed Runes
- SATOSHI•NAKAMOTO: $89.4M: With nearly 20,000 holders Satoshi holds relevance in its name alone
- WANKO•MANKO•RUNES: $44.5M: A furry-inspired rune that Casey Rodarmor is pushing
- BITCOIN•PEPE•MATRIX: Nearly 1500 sales and 16,000 holders
- MEME•ECONOMICS: $9.9M: Nearly 1,000 sales and 4,000 holders
The Bottom Line – Unlock Huge Potential With Bitcoin Runes
Bitcoin is signaling long-term bullish sentiment but isn’t making any major moves – suggesting markets will shift to altcoins in Q2 2024.
Both SMAs (simple moving averages for 20-day and 200-day) are trailing below the price, which in trader speak, means the near-term and long-term parties have been bullish.
Keep your eye on the latest new token standard as the next major catalyst for a bull market; they could reach a $1 billion market cap by week’s end.
RELATED: 99Bitcoins Presale Hits $600k, Signaling Massive Interest in Learn-To-Earn ($1M Next?)
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
