Since its much-hyped debut during the latest Bitcoin halving, activity on the Runes protocol has experienced a significant downturn.
The protocol, which allows users to create fungible tokens on the Bitcoin blockchain, saw a surge in transactions initially but has since declined in activity, particularly on May 10.
Runes Protocol Decline
According to data from a Dune Analytics dashboard, the protocol’s fee revenue has steadily decreased following its launch. While Runes continues to generate notable fees daily, surpassing $1 million only twice in the last 12 days means the trend is on a downward trajectory. This decline contrasts with the frenzied activity witnessed during its first trading week.
Runes, created by Ordinals creator Casey Rodarmor, entered the market on April 20, coinciding with the Bitcoin halving. The launch caused a frenzy among investors, resulting in an increase in transaction fees and record-breaking earnings for Bitcoin miners, exceeding $135 million in costs du
We współpracy z: https://cryptopotato.com/3-week-post-launch-runes-protocols-activity-sees-substantial-decrease/
