8000+ Runes Etch Created on Bitcoin; 1.4M Transactions: Report

Recent updates revealed that more than 8,000 Runes etch have been created on Bitcoin since the fourth Bitcoin halving. As per Chinese crypto researcher Colin Wu’s post on his Wu Blockchain page on X, 1.4 million Runes-related transactions have been reported since then.

Wu stated that the Runes with the highest number of holders is reportedly RSIC•GENESIS•RUNE, boasting more than 21,000 addresses. It is noteworthy that the number of Runes transactions on Bitcoin accounts for 40%-70% of the total number of transactions on the network after halving.

At the press time, the total number of Runes etched is 8161. The total Rune transaction till the moment is 1574720 by 101728 holders.

Source: Runealpha

Following the launch of the Runes protocol, the community created a frenzy with the rush to create new Rune-based meme coins, leading to an increase in Bitcoin transaction fees. Reportedly, following the Bitcoin halving, the average transaction fees of Bitcoin reached a historical high of $128.45, possibly due to the demand for Runes tokens.

Lucas Outumuro, Head of Research at IntoTheBlock, commented that the launch of Runes on Bitcoin has been “absolutely insane.” Further commenting on the increasing Bitcoin transaction fee and growing addresses, he stated,

<blockquote> “It’s been less than 48 hours since the launch of Runes and it has already made an impact of historic proportions. We’ll see how much of the early momentum will persist, but so far, it seems like $BTC’s long-term security problem is getting solved by sh*tcoins.” </blockquote>

Meanwhile, Bitcoin exhibits a comparatively stable price, with its price currently set at $66,380. Though the cryptocurrency hasn’t experienced notable changes over the past 24 hours, it has surged over 4% in one week and over 3% in one month.