Bitcoin24h $117,906.61-0.89%

Ethereum24h $4,455.99-3.72%

XRP24h $3.11-0.34%

BNB24h $837.18-1.50%

Solana24h $188.03-3.61%

Dogecoin24h $0.2336+2.21%

Cardano24h $0.9570+3.62%

TRON24h $0.3549-1.13%

Hyperliquid24h $47.81-1.67%

Chainlink24h $21.88-2.78%

Rare sats and Runes failed to solve Bitcoin’s security budget

Like all of Casey Rodarmor’s protocols for speculative trading on Bitcoin, Runes failed to raise Bitcoin miners’ revenue above its average.

First and largest Bitcoin Rune is down 85% in a month

The first Rune to launch on Bitcoin, nicknamed Fehu, has lost 85% of its value since it launched on April 20, 2024.

Bitcoin Runes, the new type of fungible token protocol using the Bitcoin blockchain, has proven to be less popular than many anticipated.

This year is an especially rich Bitcoin halving, with Runes and the so-called ‘Epic Sat’ adding speculative fervor to global celebrations.

Testnet bitcoin is supposed to have no value, but Runes and the halving have given tBTC tens of millions of dollars of value.