Tokens on the Runes Protocol are down from their peak, but don’t count them out yet. The protocol is less than three months old — and it’s just getting started.
Block 840,000, mined on April 19, 2024, was special for Bitcoin (BTC). In addition to marking the fourth halving of the world’s largest blockchain, it also signalled the launch of the Runes Protocol, currently the most popular for creating fungible tokens on Bitcoin.
While token creation is common on blockchains such as Ethereum (ETH) or Solana (SOL), this practice is relatively new for Bitcoin, only becoming popular in 2023. Tokens on the Runes Protocol — launched in April, even more recent.
Over the last 15 years, Bitcoin was declared dead by traditional media numerous times. Similarly, tokens created with the Runes Protocol are already considered dead by some critics.