Due to their initial lack of utility, Runes will trade akin to volatile memecoins at the beginning, according to pseudonymous DeFi researcher Ignas.
Bitcoin Runes, a new protocol for issuing fungible tokens on the Bitcoin network, is set to go live with the Bitcoin halving later this week.
Yet, the real market opportunity for Runes may only come months after the first wave of investor hype subsides, according to pseudonymous decentralized finance (DeFi) researcher, Ignas, who wrote in an April 17 X post:
Rune floor prices could see a significant drop, mainly because they don’t immediately improve the trading experience of BRC-20 tokens, and because small traders may be priced out of the increasing Bitcoin transaction fees, according to the pseudonymous researcher.
