Empire Newsletter: Bitcoin’s turn for memecoin mania

Hot ball of memecoin money

After memecoin mania cycles were speed-run on Solana and Base, this weekend was Bitcoin’s turn.

Runes, a new protocol for minting memecoins from Ordinals creator Casey Rodarmor, was released at the same block height as last Friday’s halving. Not for any technical reason — just it made for a neat countdown. 

A slew of Rune mints immediately came online, and average transaction fees hit an all-time high of nearly $130, more than double the previous record from the last bull market.

Nearly 53,000 Runes-related transactions were recorded in the first two hours, about one-third more than the overall network’s usual numbers across February and March.


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