What is the Runes protocol? Will the Runes ecosystem explode? What other opportunities are there?

As the Bitcoin halving is about to occur, the Runes protocol will also be officially launched. Various projects in the Bitcoin ecosystem are ready, and some have already begun to take off in advance. Some of these projects have already announced that they will launch their own project tokens on Runes. The hype surrounding Runes is already heating up right now.

First understand what is the Runes protocol and why is it important?

Runes were proposed in 2023 by developer Casey Rodarmor, the creator of the Bitcoin Ordinals protocol. The plan is to officially launch at the time of Bitcoin’s next halving (approximately 8 days from now).

Runes is a new Bitcoin protocol designed to leverage the blockchain’s native UTXO transaction model to promote the issuance and use of alternative cryptocurrencies, in line with BRC-20 Compared to the token standard, the Runes protocol is more efficient and easier to use.

Runes have the potential to build a functionally useful cryptocurrency ecosystem on Bitcoin, and the advantages of the Runes protocol may lead to the birth of important use cases in the Bitcoin ecosystem in the coming months and beyond.

Several projects saw large increases this morning, and NFTs related to the rune concept grew even more strongly. It is foreseeable that there will be many opportunities before runes is officially launched on the mainnet, and everyone should seize it.

Qingtian here introduces two potential landmarks:

龙头Runestone

Runestone is the earliest and largest project on the Runes protocol. Affected by the imminent launch of the Runes protocol and the expectation of airdrops, the floor price of Runestone has continued to rise in recent days. The current floor price has reached 0.0923 BTC, and the market value has reached 10,340 BTC (approximately US$730 million).

Ordinals developer Leonidas once said that Runestone is not an NFT collectible, but a Meme coin. If the Solana ecological Meme coin can create a market value of US$1 billion overnight, imagine what the Meme coin on Bitcoin can achieve. He also said that Runestone holders will receive three meme coin airdrops, one of which will begin this month and is a "dog" coin.

Rune Pups

The Bitcoin version of "WIF" is the first MEME coin on Bitcoin and the first BRC-20 airdrop on Bitcoin. It received the "order call" from the well-known Solana KOL Ansem.

According to the Pups team, after the Runes protocol is launched, the PUPS token will be switched from BRC-20 to the Runes protocol. The team believes that the rune protocol is more decentralized than BRC-20.

The current infrastructure of the Bitcoin ecosystem has begun to be deployed to support the Rune protocol, including wallet Unisats, OKX inscription market, NFT market Magic Eden, wallet Xverse, etc.

The editor predicts that the Runes ecosystem will explode when the OKX market is officially launched, just like the previous inscription

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