As the summer months begin to set in, the Bitcoin Ordinals ecosystem is showing signs of disparity within its ranks.
While most major Ordinals collections are down between 40% and 60% from their peaks, with others such as Runestones down as much as 80%, Runes are enjoying a renaissance. The entire sector for what are essentially memecoins on Bitcoin is up 50% in the past two days, showcasing a $788 million market capitalization.
What’s going on? “Ordinal collections are selling off from all-time highs, and Runes infrastructure has improved over the past 6 weeks since launch,” said Jake Gallen, CEO of Emblem Vault.
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#undefined [Source: TheDefiant]