Magic Eden announces support for Runes, is a cheaper and better trading era coming?

Magic Eden Opens Runes Token Trading

The Bitcoin Runes homogeneous token standard protocol, which sparked a heated discussion, was launched on April 20 and ranked first in the Bitcoin ecological transaction volume. Chain NFT trading platform Magic Eden has also followed this trend and launched a platform that supports Runes tokens to make buying and selling more convenient.

The goal of Runes is to solve the problem of slow and expensive transactions on the Bitcoin blockchain. It was launched by Ordinals founder Casey Rodarmor and provides better performance than BRC-20. Simple, efficient system.

When it comes to relatively new technologies, the trading mechanism or the services of related stores are not yet complete, which often leads to traders complaining about many frustrations when buying and selling Runes tokens, even in the Bitcoin wallet Xverse Or casting on Unisat may not be as simple and clear as buying and selling directly on the trading platform.

The Runes platform recently launched by Magic Eden is to solve this pain point. According to foreign media "The Block", Magic Eden's Runes platform is still in the testing phase and will allow users to purchase Runes using the Magic Eden wallet.

In addition, the "Swap" function will be opened in the future. Buyers can directly set the amount of Bitcoin they want to spend and the Runes currency they want to purchase, and the system will give the most appropriate Purchase options.

Magic Eden co-founder Zedd Yin said that integrating all Bitcoin-related things (Runes, Ordinals protocol and BRC-20 token protocol) can bring a smooth experience to users and allow Everyone clearly understands the assets they hold in the Bitcoin ecosystem.

However, the Magic Eden team revealed that the current trading collection of Runes protocol tokens is not yet eligible for the official diamond reward program, but this strategy will change in the future.

Magic Eden is a veteran supporter of the Bitcoin ecosystem

Magic Eden is not a newbie in the Bitcoin ecosystem. It opened support a year ago Ordinals protocol transactions, and according to the data analysis platform DappRadar, Magic Eden’s transaction volume in the Bitcoin ecosystem in the past 30 days reached US$350.98 million, ranking first in the NFT market. *

Ordinals Protocol: The protocol launched in December 2022 allows users to place images, audio and other content on the Bitcoin blockchain, bringing unprecedented The new revolution is even called the “second phase of Bitcoin.”

Magic Eden, which started by supporting Solana ecological NFT transactions, has launched cross-chain support, reward systems, and even multi-chain wallets in the past year. It is a rising power in addition to Blur and OKX. power.

Now, Magic Eden is deepening the development of the Bitcoin ecosystem by launching the Runes trading function. However, although this move can simplify the process for people to purchase Runes tokens, it still takes time to observe how the market trading volume and liquidity will perform.

Zedd Yin said that the current Runes platform will be updated and will continue to create more complete Bitcoin ecological services on Magic Eden based on feedback from the community.

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