The prices of Bitcoin Runes tokens such as MAGA•THE•DONALD•TRUMP and CATS•IN•THE•SATS have climbed by triple digits in the past 24 hours.However, during the same period, the prices of Bitcoin Runes tokens such as DOG•GO•TO•THE•MOON , MAGA•THE•DONALD•TRUMP, and CATS•IN•THE•SATS have surged by 22%, 161%, and 127%, respectively, according to data fromAt press time, DOG traded at $0.0078, logging a 15% price rally in the past 24 hours.
As of 31 May, 238,050 Runes transactions had been executed. This brings its total transaction count to 14,936,003 since it launched on 20th April following Bitcoin’s fourth halving event.When the Runes protocol went live on 20th April, it accounted for 58% of all transactions completed on the Bitcoin network that day. Due to increased interest in the protocol, daily transactions spiked.
According to the Dune Analytics dashboard, by 23rd April, its share of the total transactions count on the Bitcoin network on that day jumped to 78%. This was a 45% surge from the transactions completed towards the sale of BTC on the network by 45%.However, this has declined gradually as the hype surrounding this new standard for creating fungible tokens directly on the Bitcoin blockchain waned over the past few weeks.Abiodun is a full-time journalist working with AMBCrypto.
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