Latest news on Runes protocol

Bitcoin Core developer Jimmy Song said the Taproot upgrade hasn’t lived up to the hype, claiming it has failed to deliver on promised privacy and security features.

Bitcoin Ordinals leader Leonidas said his community would fork Bitcoin Core if developers reversed the upcoming update that allows for more Ordinals and Runes transactions.

The 22-fold increase was attributed to Bitcoin staking developments, the launch of spot Bitcoin ETFs in the US and BTC’s soaring prices during 2024.

Bitcoin crossed $100K, marking a bullish year. Still, legal battles, regulatory crackdowns and poor decisions tested the industry.

The Bitcoin Runes protocol, which had a daily transaction count of over 750,000 on April 23, now struggles to reach 100,000 in December.

The startup is onboarding BTC miners representing a “sizable amount” of the Bitcoin network’s total hashrate, according to Alex Luce. 

Users can choose to complete quest-like directives to receive Airheads or outright purchase the inscribed art through a “Whale Pass.”

The Bitcoin Runes protocol initially dominated daily transactions post-launch but is now seeing a decline, with BTC reclaiming its network dominance.

Several PolitiFi and animal-themed memecoins continued to soar in the second quarter despite the broader market downturn, which NFTs contributed to.

Bitcoin miners have earned less than 2 BTC combined from Runes transactions over the past six days, a significant decrease from the record high of 884 BTC on April 24.

Bitcoin’s blockchain bandwidth usage surpasses 90% post-halving, driven by new token standards and increased transaction volume.

Runes-related transactions could extend a significant revenue boost for Bitcoin miners after the 2024 halving.

Since April 2024, Runes have led Bitcoin network activity, outpacing both Ordinals and BRC-20 in transaction share.

Bitcoin Runes protocol caused an initial surge in Bitcoin transactions, exceeding 50% at its peak. Did the hype clog clear out?

Only 157 new Runes were etched on Bitcoin on May 13, which contributed to just $3,835 in transaction fees paid to Bitcoin miners.