The post the new memecoin on Solana crashes appeared on BitcoinEthereumNews.com.

On Saturday, January 25, the developer of the Runes protocol launched a new memecoin on Solana called Runes.  After a debut with a bang on the DEX Raydium, the Twitter account of Runetoshi was suspended, and the price of the memecoin crashed.  Runes on Bitcoin Runes is a protocol launched in April, during the Bitcoin halving. Thanks to this protocol, the possibility of creating fungible tokens on the Bitcoin blockchain has been added. Bitcoin in fact was not only not created to generate other tokens, but it is also completely lacking native functionalities that allow it to do so.  Runes therefore adds this functionality to the original Bitcoin protocol, but after an initial bull moment it does not seem to have had great success. In fact, according to the data reported on Dune, it has been months since transactions related to Runes on the Bitcoin blockchain have collapsed to become an almost negligible number. If at first they had exploded, almost completely supplanting those linked to the BRC-20 format, now it is the latter that has returned to being dominant. In other terms, it is possible to state that the Runes protocol on Bitcoin has gone out of fashion.  Runes: the memecoin on Solana   The protocol Runes on Bitcoin was launched by the developer Runetoshi. The very strong decline in the use of this protocol in recent months could also be due precisely to the boom that has instead occurred in the use of Solana to create and launch new fungible tokens.  Thanks especially to initiatives like pump.fun, the minting of new tokens on Solana has exploded, leaving only crumbs from this point of view to blockchains like that of Bitcoin.  On the other hand, creating and launching a token on Solana is easy and very economical, while doing it…

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Filed under: News - @ January 27, 2025 1:22 pm