The memecoin undercurrent is so strong across the cryptocurrency space, that it is now taking over the Bitcoin ecosystem, a blockchain once known for its no-nonsense community of hard-money advocates.
Runes, which is the label for memecoins in the Bitcoin network, have accounted for 35% of the more than 99 million transactions on the world’s oldest blockchain since Jan. 1, according to a report by Galaxy Research.
Of the remaining transaction pool, 50% were standard financial transactions, 11% were for BRC-20s, and only 4% belong to Ordinals traders–a trend that has been intact since May.
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