Bitcoin: Runes could thus revolutionize the Asian institutional market


Monday, June 3, 2024 ▪
3
min reading ▪ acc
Ariela R.

Bitcoin Runes are experiencing a significant recovery thanks to the growing interest of Asian institutional investors. This new craze could revive this once promising protocol.

Bitcoin news
Bitcoin Rune Exchange Rate in 24 Hours (Source: Twitter)

Why are bitcoin runes attractive to Asian institutions?

The Rune protocol is designed to optimize the creation of meme coins on bitcoins. He started with a bang before quickly running out of steam. However, institutional investment in Asia is giving this project new life. Companies like C Squared Ventures and Newman Group see Runes as having huge potential to become key blockchain infrastructure.

“Runes are structured to meet the strict requirements of institutional investors with a focus on scalability, efficiency and security”said Ciara Sun of C Squared Ventures.

Technical advantages of bitcoin runes

Unlike BRC-20 tokens, Bitcoin Runes offer:

  • better security,
  • greater scalability.

It uses this protocol UTXO model which ensures a smoother interaction with crypto-wallets and DeFi applications. OKX’s Paige Xu says this model is “perfectly designed to meet the expectations of institutional investors”. In addition, Bitcoin Runes are deployed by a team of renowned engineers who ensure better reliability protocol.

Bitcoin Runes: What Impact on the Market and What Are the Future Prospects?

Bitcoin Runes have experienced significant volatility since their launch. After an explosive start, interest waned before rebounding in late May. They have achieved market capitalization of $2 billion. Adrian Lai of the Newman Group believes that:

“Runes could be bigger than BRC-20 tokens, especially with institutional interest.”

Adoption of this protocol is largely dependent on education and the integration of assets into the wider financial world. Companies like Magic Eden and OKX are playing a key role in this adoption:

  • facilitating transactions,
  • designing platforms dedicated to bitcoin runes.

Due to its technical advantages and potential for growth, Bitcoin Runes could become a central part of the crypto market. The following months will be crucial to see if this trend is confirmed.

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Ariela R. avatar

Ariela R.

My name is Ariela and I am 31 years old. I have been working in the field of web development for 7 years. I only discovered trading and cryptocurrencies a few years ago. But it’s the universe that interests me a lot. And the topics covered within the platform allow me to learn more. A singer in my spare time, I also have a great passion for music and reading (and animals!)

DISCLAIMER OF LIABILITY

The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.

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