Bitcoin's Runes Protocol Faces Challenges In Maintaining Trade Share

According to Odaily, the Runes protocol of Bitcoin has been facing challenges in maintaining its share of Bitcoin transactions. Since its launch on April 20, Runes transactions have dominated Bitcoin chain traffic for eight days, primarily over the weekends. The Runes protocol was launched in sync with the fourth Bitcoin halving, sparking a frenzy that led to a surge in Bitcoin chain transaction volume and miners' income exceeding $100 million for the first time. On April 23, the proportion of Runes transactions reached a peak of 81.3%, but by May 2, it had dropped to 11.1%. Over the weekend of May 4 to 6, Runes transactions rebounded, but the overall trend was downward. As of May 22, the proportion of Runes transactions was 12.7%, far higher than Bitcoin Ordinals (0.7%) and BRC-20 (1.5%). Since its historical high, the number of Runes transactions has dropped by more than 84%.