There is only one day left for Bitcoin halving and the Runes mainnet is about to be launched. Are you still analyzing what opportunities to ambush? In the past few dozen hours, the on-chain meme market with strong execution on Ethereum has made a lot of money.
In the past two days, many Runes-related projects on Ethereum have sprung up like bamboo shoots after a spring rain. Although their descriptions are very rough and they look a bit "chaotic", it does not affect the fact that these tokens have increased by dozens of times compared to when they were launched. Interestingly, in general, the time it takes for new Runes concept projects to achieve this high-multiple increase has been reduced from a week to a few hours.
RUNIC, a Bitcoin L2 built around Runes, was launched on March 13. At that time, the popularity of the Runes protocol was not high enough. RUNIC was quickly cut in half one day after its launch, and then fell by more than 90%. In the past two weeks, when the Runes protocol gradually attracted the attention of the community, RUNIC also "resurrected", with a growth of more than 6 times in 5 days.
As of writing, RUNIC's official Twitter account has less than 5,000 followers, which is a bit too few for a serious project, but seems to be more than enough for now.
RunesBridge RB, another frequent guest on the Ethereum hot list recently, has risen more than 40 times in 10 days since its launch, and is one of the new "long-lived" Runes protocols. As the name suggests, RunesBridge aims to build a transmission bridge between assets from the Bitcoin network to the EVME network through the Runes protocol. In addition to being a bridge, RunesBridge also serves as a Rune Lunchpad platform.
RunesBridge is more "serious" than other projects. It launched a test network yesterday, and users can receive test coins to experience the services provided by RunesBridge. Regardless of whether these functions are really useful in the Runes ecosystem, at least for retail investors, such "services" make them willing to give RB more confidence.
On April 15, the DeFi project Runes₲lyphs token RG, which provides staking services on the Runes protocol, was also launched. It increased by more than 10 times in the first two hours after its launch, and then quickly returned to zero.
However, for retail investors who want to find alpha coins with the runes concept, RG, which is close to zero, seems to be a good choice compared to RUNIC and RB, which have already shown an upward trend. After three days of low fluctuations, RG began to explode yesterday, with an intraday increase of nearly 7 times.
The lucky ones who made a profit quickly withdrew. Although Runes₲lyphs is still holding the "Thread Competition" to promote the project and launching a staking service while the iron is hot, as of the time of writing, RG has fallen by about 60% from its high point.
In addition to the early holders of RG, the lucky ones yesterday also included retail investors who paid attention to EtheRunes (ETR) at the right time. on-chain meme, which also rose 20-3 times in the first few hours of opening and then quickly fell by more than 90%, also welcomed a rebirth on April 18, with a daily increase of 536%.
Although the concept of Runes is increasing, the life of on-chain meme is only two days. The above tokens have fallen sharply after achieving high gains in a short period of time. Today, the new Runes concept that carries the expectations of retail investors to get rich has been launched.
RBot, which appeared at 7:00 a.m. on April 18th, Beijing time, saw a 4-fold increase in half an hour after going online, and then fell by more than 75% in the next hour and a half, reaching its lowest price of $0.27 around 9:00 a.m. Generally speaking, those who can make a profit in the first half an hour after going online are often trading bots or scientists. According to the trend of the previous tokens, RBot can also receive a wave of love from retail investors.
Perhaps because the deadline for Runes' official launch is approaching, RBot's revival is much faster than the aforementioned tokens. At 10 a.m., RBot waited for "value discovery" and began to grow gradually. At around 6 p.m., RBot soared to a high of $2, an 8-hour increase of 482%.
The BitRunes token BRUNE, which was launched at the same time as RBot this morning, topped the Ethereum hot list at noon, and has now increased by more than 10 times since its launch. BitRunes also seems to be providing cross-chain bridge services around Runes, but the details are still unknown - its official Twitter account has only more than 200 followers and has only sent three tweets.
However, on-chain researcher DiTereh has issued a warning, "Don't buy high-risk popular narratives." He took BRUNE as an example, pointing out that most of the buying orders at the beginning of its launch were trading sniper robots, and retail investors faced great selling pressure when purchasing, and the contract itself also had great risks. For example, the developer did not give up control of the contract, and could suspend trading by modifying the contract and modify the taxes on buying and selling.
DiTereh's findings can confirm the trend characteristics of the tokens of these projects. Most of them first rose to dozens of times in a short period of time after going online, and then quickly collapsed to zero. The tokens fell by 60%-80% in a few hours. Then came the "value discovery" process, which lasted for several days or as short as a few hours. When the tokens were close to zero, they were picked up by retail investors, and the price of the tokens rose again, even breaking through the previous high.
The excitement of the chaos reminds people of the AI craze two months ago. BlockBeats once mentioned in " 20-fold increase in one weekend, AI Summer in the crypto market is coming " that in addition to the old and powerful projects, some small-cap AI projects continue to emerge in the form of assembly line factories, and they can achieve dozens of times increase in two or three weeks, which is much higher than the growth rate of serious AI projects.
When the Bittensor ecosystem attracted the attention of the community, new projects around the TAO ecosystem were more attractive than TAO itself. Regardless of whether the positioning was really feasible, early holders could get high-multiple returns. At its peak, there were as many as four or five new projects under the name of Bittensor in a week.
Related reading: " TAO, with a market value of $4 billion, is it the Ethereum of AI or a new meme factory? "
Unlike what the community envisioned, after the narrative of new AI projects was finished, the funds did not turn to "more reliable" projects, but were directly withdrawn. Recently, AI MEMEs have all reached the end of zero, and the project owners have run away in different ways.
Related reading: After the hype ends, KOLs are the scapegoats
It can be felt that the same logic is also being played out around Runes, and the pace is faster. These two days are the peak of the popularity of the Runes concept project. On April 18, RUNIC's single-day increase was as high as 150%, RB's single-day increase peaked at 463%, and ETR's single-day increase was 536%. By April 19, these tokens all had a retracement of 40%-70%, while RBot and BRUNE were born at the same time, setting a new soaring trend. Tomorrow, there may be new Runes concept coins appearing on the hot list, and their lifespan may be shorter.
Although Runes is the consensus wealth code at the time of Bitcoin halving, users who bought the new tokens in the past two days according to the profit logic of the original Runes concept coin RB may have suffered a significant retracement of their profits. If the entry point is a few hours away, they may even face the risk of being "buried". In this "you and I" narrative transaction, who can be the final winner?
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