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CryptoIntelligence 2024-07-02 03:11:00

Runes Token Transactions Plummet 88% Amid Bitcoin Blockchain Challenges

Runes Token Transactions Plummet 88% Amid Bitcoin Blockchain Challenges

Runes, a new token standard on the Bitcoin blockchain, has seen a drastic decline in its daily transaction volume, dropping by more than 88% from its peak in June. According to data from Dune Analytics analyzed by Crypto Koryo, the average daily transactions for Runes from June 22–28 fell sharply to 37,820. This marks a significant decrease of nearly 90% compared to the 331,040 daily average recorded between June 9–15. On June 24 alone, there were 23,238 transactions, the lowest since Runes launched during Bitcoin’s fourth halving event on April 20. Runes transactions have consistently represented between 4.9% and 11.1%

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