{"id":19928,"date":"2024-12-26T17:14:21","date_gmt":"2024-12-26T15:14:21","guid":{"rendered":"https:\/\/forklog.com\/en\/runes-protocols-share-of-bitcoin-transactions-hits-record-low\/"},"modified":"2024-12-26T17:14:21","modified_gmt":"2024-12-26T15:14:21","slug":"runes-protocols-share-of-bitcoin-transactions-hits-record-low","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/runes-protocols-share-of-bitcoin-transactions-hits-record-low\/","title":{"rendered":"Runes Protocol&#8217;s Share of Bitcoin Transactions Hits Record Low"},"content":{"rendered":"<p>By the end of 2024, the Runes protocol experienced a decline in user activity amid high volatility in the crypto market and growing interest in other industry sectors.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXdsicH4-1NersLXlomjkBB50vL2JONHWBlk7HOvxbjxDGFO2ec7L93FTYEaWYYjl_gFLhKedsdKzxTCFHWbLz_U54LMGWewR6bqTzpPKOR9DBxLJSZcPHLIlsPwRQ3wo14piEqOpA?key=mlfMBadVkmwp5CXPydSn2USb\" alt=\"Runes Protocol's Share of Bitcoin Transactions Hits Record Low\"\/><figcaption class=\"wp-element-caption\">The share of Runes, BRC-20, and Ordinals among all transactions on the Bitcoin network. Data: <a href=\"https:\/\/dune.com\/sqrr-research\/runes\">Dune Analytics<\/a>.<\/figcaption><\/figure>\n<p>In the initial months following its launch, the Runes protocol accounted for the majority of all transactions on the network. At its peak, its share <a href=\"https:\/\/u1f987.com\/en\/news\/runes-tokens-dominate-bitcoin-transactions\">exceeded<\/a> 81%. Later, the frenzy <a href=\"https:\/\/u1f987.com\/en\/news\/decline-in-activity-on-runes-protocol-observed\">subsided<\/a>, although there were several smaller, relatively brief spikes in activity in June, September, and November.<\/p>\n<p>As of December 26, the protocol&#8217;s share of all Bitcoin transactions fell to a record low of 2.4%. Throughout most of the month, this figure remained below 8%, except for a recorded 19.9% on December 25.<\/p>\n<p>According to analysts at <a href=\"https:\/\/www.theblock.co\/post\/332216\/runes-transaction-share-on-the-bitcoin-network-drops-to-new-lows\">The Block<\/a>, amid volatility, investor interest shifted from experimental protocols on top of Bitcoin to other niches in the crypto market, including meme coins, NFTs on Ethereum, and AI agents. <\/p>\n<p>They believe that as prices stabilize, users will return to ecosystem projects.<\/p>\n<p>According to a report by CoinGecko, meme coins emerged as the most popular topic among crypto investors in 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By the end of 2024, the Runes protocol experienced a decline in user activity amid high volatility in the crypto market and growing interest in other industry sectors. The share of Runes, BRC-20, and Ordinals among all transactions on the Bitcoin network. Data: Dune Analytics. In the initial months following its launch, the Runes protocol [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19927,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1268,1505],"class_list":["post-19928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-on-chain-analysis","tag-runes"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/19928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=19928"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/19928\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/19927"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=19928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=19928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=19928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}