Rune Trading Activity Dropped, Only 5% of Bitcoin Transactions

Bittime - In the last few days, Rune trading activity has experienced a significant decline, accounting for only 5% of Bitcoin transaction volume. This drop was drastic compared to the previous 2 weeks, when Rune accounted for 60% of Bitcoin trading volume.

Development of Runes

Rune is a newly launched token and has attracted great attention. With a sudden launch and a strong initial push, Rune captured the BRC-20 market almost instantly.

BRC-20, which had been in development for months and built a variety of tools to support its ecosystem, suddenly lost almost all of its market share after Rune launched.

However, despite experiencing a significant decline in trading volume, Rune still maintains dominance in the BRC-20 market. This shows that despite short-term fluctuations, there is great potential for Rune to bounce back as market conditions improve and the Bitcoin ecosystem matures.

Decline in Rune Trading Activity

ARune trading activity has dropped drastically. From initially contributing 60% of Bitcoin trading volume 2 weeks ago, it now only accounts for 5%. This decline raises questions about what caused this sudden shift and how it affected the market as a whole.

Some factors that may have contributed to this decline include:

1. Market Volatility: Bitcoin price fluctuations and global market uncertainty may affect interest and trading activity in new tokens such as Rune.
2. Competition: Although Rune dominates the BRC-20 market, competition with other tokens and new innovations in the cryptocurrency ecosystem may cause changes in trading preferences.
3. Initial Speculation: The initial spike in Rune trading activity was likely driven by initial speculation and high interest, which then tapered off after the initial hype died down.

Impact on BRC-20 Market

The decline in Rune trading activity not only affected the token itself, but also the BRC-20 market as a whole. While BRC-20 had experienced significant growth and built a variety of tools to support its ecosystem, the launch of Rune suddenly shifted market dynamics.

However, it is important to note that despite the decline in Rune trading activity, BRC-20 still has great potential for growth. With the tools and infrastructure that have been built, BRC-20 can take advantage of this moment to re-evaluate its strategy and adapt to changing market conditions.

The Future of Runes and BRC-20

Despite experiencing a decline in trading activity, Rune still has great potential to bounce back. As market conditions improve and the Bitcoin ecosystem matures, Rune could see a rebound in trading interest and activity.

Additionally, Rune's dominance in the BRC-20 market suggests that there is strong support from the community, which could be an important factor in its rise. With the infrastructure and tools already developed, BRC-20 can focus on improving features and functionality to attract more users and strengthen its position in the market.

How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Monitor graphic movement Bitcoin (BTC), Ethereum (ETH), Solana (SOL) price and other cryptos to find out today's crypto market trends in real-time on Bittime.