Bitcoin players are still waiting for runes to be launched, while local players are already making money on Ethereum

There is only one day left before the 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 local dog plates with super execution on Ethereum have 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 "a riot of demons", 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 for new Runes concept projects to achieve this high-multiple increase has been reduced from one week to a few hours.

The Bitcoin L2 RUNIC 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%. As the Runes protocol has gradually attracted community attention in the past two weeks, RUNIC has also "resurrected", with a growth of more than 6 times in 5 days.

As of the time of writing, RUNIC's official Twitter account has less than 5,000 followers, which is a bit too few for a serious project, but it seems to be more than enough at the moment.

Another frequent visitor on the Ethereum hot list recently, RunesBridge RB, has risen more than 40 times in 10 days since its launch, and is one of the "longer-lived" new 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 the 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 reached a 10-fold increase in the first two hours of its launch, and then quickly went to "zero".

However, for retail investors who want to find runes concept alpha coins, compared with RUNIC and RB, which have already shown an upward trend, RG, which is close to zero, seems to be a good choice. After three days of low fluctuations, RG began to explode yesterday, with a daily 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 the 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, yesterday's lucky ones also included retail investors who paid attention to EtheRunes (ETR) at the right time. ETR, a Runes dog that rose 20-30 times in the first few hours of the opening and then quickly fell by more than 90%, also ushered in a rebirth on April 18, with a daily increase of 536%.

Although the concept of Runes has only increased, the life of the dog is only two days. The above tokens all fell sharply after achieving high multiples in a short period of time. Today, the new Runes concept plate, which carries the expectations of retail investors to get rich, was launched.

RBot, which appeared at 7 a.m. on April 18, Beijing time, rose 4 times in half an hour after its launch, and then fell more than 75% in the next hour and a half, reaching a minimum price of $0.27 around 9 a.m. Generally speaking, those who can make profits in the first half an hour of going online are often from 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 the official launch of Runes is approaching, RBot's rejuvenation is much faster than the aforementioned tokens. At 10 a.m., RBot waited for "value discovery" to begin to grow gradually, and it jumped to a high of $2 around 6 p.m., an 8-hour increase of 482%.

BitRunes token BRUNE, which was born 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 provide cross-chain bridge services around Runes, but the specific content is 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 reminder, "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 would face great selling pressure when buying, and the contract itself also has great risks, such as the developer did not give up control of the contract, could suspend trading by modifying the contract, and modify the tax on buying and selling.

DiTereh’s discovery can confirm the trend characteristics of the tokens of these projects. Most of them first rose to dozens of times in a very 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 coin prices rose again, even breaking through the previous high.

The excitement of the demons dancing reminded people of the AI craze two months ago. BlockBeats once mentioned in "20 times 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 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 is really feasible, early holders can get high multiples. 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? "

Different from what the community envisioned, after the narrative that can be used for new projects in the AI sector was finished, the funds did not turn to "more reliable" projects, but withdrew directly. Recently, AI MEMEs have all ushered in the end of zero, and the project parties have different ways of running away.

Related reading: "After the hype is over, the role of KOL is to take the blame"

You can feel that the same logic is also playing 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 peak was 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 original profit logic of Runes concept coin RB may have suffered a significant retracement in 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 are willing" narrative transaction, who can be the final winner?

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