Bitcoin Runes Protocol Sees Traction Waning After Much-Hyped Introduction
Summary
Activity on the Bitcoin Runes protocol has slowed, with metrics dropping more than 50% in the past two weeks. Despite a strong start, the protocol's user activity and token issuances have decreased. The downturn coincided with a general market decline, possibly impacting sentiment for novel technology. Runes generated significant interest before its launch, with the PUPS token surging in value. Some skeptics question the success of Bitcoin L2 projects like Runes in building the Bitcoin ecosystem.
