An HYDT Protocol project ambassador identified as Pinnacle B on X thinks the launch of Bitcoin Runes could have a greater impact on the crypto market than the Bitcoin halving event. In a recent post, Pinnacle noted that Runes will enable the creation of tokens on top of Bitcoin and could drive speculation and increase […]
The post Crypto User Suspects Runes to Impact the Market More Than Bitcoin Halving appeared first on Coin Edition.
- Pinnacle B thinks the Runes launch could have a greater impact than the Bitcoin halving.
- Runes enables the creation of tokens on Bitcoin and could drive speculation and increase transaction fees.
- According to reports, Runes hit a climax when a trader paid $500,000 in transaction fees.
An HYDT Protocol project ambassador identified as Pinnacle B on X thinks the launch of Bitcoin Runes could have a greater impact on the crypto market than the Bitcoin halving event. In a recent post, Pinnacle noted that Runes will enable the creation of tokens on top of Bitcoin and could drive speculation and increase transaction fees.
Pinnacle highlighted some related developments in the blockchain ecosystem to offer a background to his prediction. He cited the surge in Bitcoin fees due to Ordinals NFTs and memecoins like PUPS, noting that they triggered Bitcoin’s network fees to triple.
In addition to the tripling of Bitcoin network fees, the crypto personality noted that fees on the Ethereum network declined by 5% due to reduced network activity, indicating a migration of users to the Bitcoin network. He also stated that $180 million worth of Bitcoin has left central…
The post Crypto User Suspects Runes to Impact the Market More Than Bitcoin Halving appeared first on Coin Edition.
