Minting of Runes is of interest during the Bitcoin Halving.

Rune minting has dominated the initial reaction phase following the recently completed Bitcoin halving. According to the report, the new protocol on the Bitcoin network attracted 78.6 BTC in fees, or $4.95 million just nine blocks after the Bitcoin halving .

A relatively new innovation in the cryptocurrency space, Runes is similar to Ordinals, allowing people to “engrave” and mint tokens on-chain. It is the brainchild of Ordinals creator Casey Rodamor. The difference between both protocols is that Ordinal is non-fungible, while Runes will function more like memecoin.

With the timely boom of Runes and the way it exploded in the Bitcoin ecosystem, many crypto users thought it could become a boon to Bitcoin's growing fee economy. Most such users discussed which Runes stocks to mint and trade before mining the halving block. They conduct a discussion in space X hosted by Leonidas, a famous Ordinals collector.

Runes creator Rodamor has created the first project on the protocol, UNCOMMON·GOODS. Like many other projects looking to inculcate themselves in the new protocol, Rodamor announced the UNCOMMON·GOODS project long before the Bitcoin halving was completed. Therefore, even before the landmark halving took place, awareness of Runes was skyrocketing and probably led to extraordinary results immediately after the Bitcoin halving.

Notably, Runes' emergence in the crypto space coincided with a time of growing awareness and unprecedented adoption of memecoin. Such developments have led to increased competition for scarce Satoshis among projects wishing to mine on the Runes protocol.

Crypto community members predict that users will mint more Runes over time. One highly anticipated project is Taproot Wizards, the Ordinals project co-created by OG Bitcoin influencer Eric Wall