Rune Protocol’s share of Bitcoin on-chain transactions has dropped sharply to 7.9%

Since its launch on April 20, the Runes protocol has accounted for more than 50% of transactions on the Bitcoin network for 13 days, but has not reached that level in more than four weeks. As the hype about Runes fades, BTC has regained its dominance in bandwidth allocation on the network. BTC currently accounts for 90.7% of all transactions on the blockchain. Among other Bitcoin protocols, Runes still maintains its dominance. On July 17, Runes accounted for 7.9% of all transactions, while BRC-20 and Ordinals accounted for 1.1% and 0.4%, respectively. (Cointelegraph)