With the Bitcoin (BTC) halving, the Runes Protocol, which is yet to be implemented, has already begun to make its presence felt.
The Bitcoin halving will take place on April 19, and during this time a new protocol called Runes will come to life. The highly anticipated Runes Protocol has already increased transaction volume on the Bitcoin network, while also leading to an increase in transaction costs.
One of Bitcoin’s leading developers, Casey Rodarmor, had managed to add NFT to Bitcoin with the Ordinals protocol. Now, taking a step further, he is gearing up to release the Runes protocol.
According to data from CryptoSlam, the BRC-20 protocol PUPS has recently hosted hundreds of millions of dollars in transactions, highlighting the expectation for Runes. PUPS has become the second most voluminous BRC-20 collection in the last seven days. Each PUPS can be converted to a PUPS Runes token once Runes is launched.
PUPS also stands out as the first meme coin on the Bitcoin network.
