Your crypto source: What are Bitcoin Runes?
Ok, so you’re into the world of cryptocurrency, right?
Since you’re an aficionado, you’ve probably noticed this term being thrown around called “Bitcoin Runes.”
Well, if you’re wondering exactly what Bitcoin Runes are, you are in the right place.
Today we’re going to answer just that.
Keep reading to find out more.
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What are Bitcoin Runes?
Runes (a.k.a. ruins tokens) are essentially tokens.
It’s what’s called a “fungible token” that has been created on the Bitcoin blockchain. Runes, unlike normal tokens, leverage the Bitcoin network’s UTXO model.
Bitcoin Runes was first developed and launched in April of this year by Casey Rodarmor. Indeed, they came to fruition alongside the highly-anticipated Bitcoin Halving event that arrived in April.
Halving is a massively important occurrence for the digital asset sector. Specifically, it is during this period that the total Bitcoin supply is cut in half, and it only happens every four years. Its presence is crucial to fortifying the value of Bitcoin and driving the market’s value as a whole up.
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Buying This Token?
In short, you’re going to want to ensure that you find a wallet that is compatible with ruins. You want to find something that has low transaction fees and navigate to the Bitcoin Runes marketplace.
How much are Bitcoin Runes?
As of today, it is currently sitting just shy of six US dollars. The circulating supply is worth around $300 million.
Conclusion
In conclusion, if you’re looking for a new investment strategy when it comes to cryptocurrency, this token will have your back.
As crypto continues to evolve, it can be safe to say that tokens are going to have their fair share of the action.
So, getting in on the action now is probably one of the best things you can do in the crypto space.
Happy trading.
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