Runes Protocol Gains Momentum in East Asia as Institutional Investors Show Excitement
- Bitcoin-based Runes protocol market cap surpasses $2 billion, signaling potential resurgence.
- Runes protocol offers security, scalability, and efficiency, attracting institutional interest in East Asia.
- Asian investment firms like Newman Group see Runes as fundamental infrastructure for crypto industry.
- Leading companies like Magic Eden and OKX support Runes protocol for cross-chain transactions.
- Runes tokens show signs of life with price surges, contrasting with declining memetic assets on other networks.
- Institutional excitement in East Asia suggests Runes may dominate fungible Bitcoin tokens market.
Summary :
The Runes protocol, which allows for the creation of meme coins on Bitcoin, initially gained attention but quickly lost momentum. However, there is growing excitement for Runes in East Asia, particularly among institutional investors and centralized building teams. The market capitalization of tokens on the Runes protocol has now surpassed $2 billion, indicating a potential second act for the protocol. While the protocol's emphasis on security and scalability hasn't yet resonated with traders, investors in East Asia believe it could appeal to a broader institutional base. Some Asian investment firms have already embraced Runes, seeing its potential to become a fundamental infrastructure layer for the crypto industry. Leading companies like Magic Eden and OKX have also shown support for the protocol. Runes' technical advantages, such as its UTXO model, make it an attractive choice for institutions looking to access decentralized finance on the Bitcoin network. While there is no guarantee that Runes will dominate the crypto industry, the growing institutional excitement in East Asia suggests it may be the key to mainstreaming fungible Bitcoin tokens.
Sources :
- Decrypt
