Since its launch, Rune has accounted for 68% of all Bitcoin transactions

PANews reported on April 25th, according to Cointelegraph, since the launch of the new token standard Runes on Bitcoin after the halving event on April 20th, it has accounted for more than two-thirds of Bitcoin's trading volume. According to data from Dune Analytics dashboard shared by blockchain research company Crypto Koryo, the Bitcoin network has processed over 2.38 million Runes transactions, accounting for 68% of all Bitcoin transactions since its launch on April 20th. The total number of transactions includes regular peer-to-peer bitcoin transactions, BRC-20s, Ordinals and Runes.

Rune reached its peak trading volume on April 23rd with over 750 thousand trades in a day but fell by half to just over 312 thousand trades the next day. At block number 8400000 Rune's initial demand mostly came from Meme coin and NFT enthusiasts who were competing to engrave and etch "rare Satoshi" through Rune protocol. As a result, nearly seventy percent of miner fees were contributed by Rune trades alone during halving day itself. Since then daily figures have fluctuated between thirty-three percent and sixty-nine percent.