RUNES Trading Volume and Market Cap Continue to Decline
CryptoNewsTerminal Staff13 Sep, 2024
RUNES Trading Volume and Market Cap Continue to Decline
RUNES, a Bitcoin UTXO-based fungible token protocol, has seen a steady decline in its trading volume and market cap. According to data from cryptocurrency market data platform ZenData, the total market cap of all assets within the RUNES protocol is now $680 million, a decline of approximately 63% from its peak of $1.86 billion. The 24-hour trading volume has also decreased by 7.23% day-over-day to $1.3 million. This decline in trading volume and market cap could be due to a number of factors, including the recent bear market, the maturity of the UTXO-based token market, and the increasing popularity of other token protocols. Despite the recent decline, RUNES remains a popular token protocol, with a strong community and a number of innovative projects building on its platform. It is unclear whether the current decline will continue, but it is something that investors should be aware of before investing in RUNES or any other token protocol.
