Latest Bitcoin cut in half took place late Fridayminers' rewards will be cut in half 4th time in history–But BTC itself is not the biggest winner in the crypto market this weekend. Instead, meme coins led the way, with several prominent tokens posting huge double-digit gains in the previous day.
Dog-themed coins have been the biggest winners so far this weekend. Solana-Base of Bonk graph A huge increase of 37% In the last 24 hours alone, the current price per data from CoinGecko has jumped to $0.000021. BONK, like much of the rest of the market, has effectively returned to where it was before the April 12 crash.
BONK has so far seen the biggest swing among the top 100 coins by market cap, while other puppy-centric meme coins Ethereum Things are going well this weekend: FLOKI is rose nearly 19% It has risen to nearly $0.00017 in the past day. Shiba Inu (SHIB) is Up 14% to over $0.000026.
Other meme coins currently gaining attention include Ethereum’s PEPE; 13% increase It reached almost $0.000006, Solana-based Dogwifat (WIF) rose about 8% to about $3.00.
Ethereum and Solana meme coin traders are returning to familiar, established meme coins, while others may be exploring new frontiers for minted tokens. via rune, a new Bitcoin alternative token standard launched at the same time as Danger. This protocol was created by Casey Rodarmor, the inventor of the NFT-like Ordinals protocol.
There's a lot of hype about Runes as a project creator competed to be the first one To launch Bitcoin tokens using the protocol, and users spent millions together Tokens will be created and minted during the first few blocks after the halving late Friday. But trading volumes so far have been relatively modest, according to data tracked by financial institutions. OKX Marketplace.
According to OKX, the most traded rune token in the past 24 hours was Satoshi Nakamoto, named after the pseudonymous inventor of Bitcoin. The token's trading volume during that period was equivalent to approximately $2.7 million, with a market capitalization of $136 million and a Bitcoin price equivalent to approximately $6.50.
With this kind of market capitalization, the Satoshi Nakamoto Token will not be anywhere near the top 100 market capitalization of all cryptocurrencies. CoinGecko, which gives some idea of the magnitude of the current demand for early runes. However, some traders are betting that interest in these early runes will spread over time as trading tools improve and protocols become more established.
Bitcoin itself has not been able to generate much short-term momentum since the halving. The stock is up about 1.5% on the day and is now worth just under $65,000, but it has only risen about 3% since Friday night's event.
Historically, however, Bitcoin's biggest gains following a halving have come months after the effects of slowing supply growth begin to be felt across the ecosystem.
Additionally, this is a unique cycle in that Bitcoin actually hit a new all-time high in March, breaking its 2021 peak. first Amid the rise of spot Bitcoin ETFs, we are halfway through the halving. Price trends after this halving are entering uncharted territory.
The views and opinions expressed by the authors are for informational purposes only and do not constitute financial, investment, or other advice.
