Rune Protocol 的起起落落：活動指標急劇下降

比特幣 Runes 協議的活動急劇下降，並於 5 月 11 日達到最低水準。此次下跌是在 4 月 19 日發布後活動激增之後發生的，恰逢比特幣減半。儘管最初推高了交易費用，但 Runes 活動已經減弱，該協議在第一周僅產生 1.35 億美元的費用，而此後的水平明顯較低。符文活動的下降與比特幣網路的更廣泛放緩以及減半後觀察到的費用降低一致。

Rune Protocol's Meteoric Rise and Ebbing Tide: A Comprehensive Analysis of Its Activity

符文協議的興起與落潮：對其活躍度的全面分析

May 12, 2024

2024 年 5 月 12 日

The Rune protocol, a revolutionary innovation built upon the Bitcoin blockchain, has experienced a significant decline in activity since its April 19th launch, coinciding with the latest Bitcoin halving event. Data compiled by crypto analyst Runes Is on a Dune analytics dashboard reveals a noticeable decrease in crucial growth metrics.

Rune 協議是一項基於比特幣區塊鏈的革命性創新，自 4 月 19 日推出以來，其活動量顯著下降，恰逢最新的比特幣減半事件。加密貨幣分析師 Runes Is 在 Dune 分析儀表板上編制的數據顯示，關鍵成長指標明顯下降。

A Blockbuster Debut and Subsequent Decline

轟動一時的首次亮相和隨後的衰落

Upon its launch, the Rune protocol made an explosive debut, driving a surge in Bitcoin transaction fees and generating a record $107 million in a single day. Within its first week, it amassed a staggering $135 million in fees. However, the enthusiasm surrounding Runes appears to have waned in the weeks following its launch.

Rune 協議一推出，就引發了爆炸性的首次亮相，帶動了比特幣交易費用的飆升，單日交易額達到創紀錄的 1.07 億美元。在推出的第一周內，它就收取了驚人的 1.35 億美元費用。然而，圍繞《符文》的熱情似乎在其推出後幾週內有所減弱。

According to Runes Is, only 5,023 Runes were etched since May 1st, a significant drop compared to the 9,639 etched on April 30th alone. May 11th recorded the lowest etching activities at a mere 129.

根據 Runes Is 的數據，自 5 月 1 日以來，僅蝕刻了 5,023 個符文，與僅 4 月 30 日蝕刻的 9,639 個相比，大幅下降。 5 月 11 日記錄的蝕刻活動最低，僅 129。

Transaction Volumes and Bitcoin's Influence

交易量和比特幣的影響

In terms of transaction volumes, April 20th and April 23rd were peak days for Runes, with the protocol dominating the Bitcoin network with shares of 77% and 69%, respectively. This shift was welcomed by the mining community, who had witnessed a decrease in earnings due to the Bitcoin halving.

從交易量來看，4 月 20 日和 4 月 23 日是 Runes 的高峰日，該協議以 77% 和 69% 的份額主導比特幣網路。這一轉變受到了採礦界的歡迎，他們目睹了比特幣減半導致的收入下降。

Additionally, the Rune protocol had a profound impact on Bitcoin's average transaction fee. In early April, fees hovered around $5. However, following the launch of Runes, fees skyrocketed to over $128 on April 20th, marking a historic high. However, subsequent days witnessed a consistent decline in Runes transactions, accounting for less than 30% of total transactions on the Bitcoin network until May 5th, when a reversal occurred.

此外，符文協議對比特幣的平均交易費用產生了深遠的影響。 4 月初，費用徘徊在 5 美元左右。然而，隨著 Runes 的推出，4 月 20 日費用飆升至 128 美元以上，創下歷史新高。然而，隨後幾天，符文交易量持續下降，佔比特幣網路總交易量的比例不到 30%，直到 5 月 5 日出現逆轉。

May 11th: A New Low for Rune Activity

5 月 11 日：符文活動再創新低

May 11th marked a new low for Runes activity, with the protocol experiencing its lowest levels of engagement. New mints dwindled, and fewer new wallets interacted with the protocol, resulting in a decrease in generated fees.

5 月 11 日標誌著符文活動的新低，該協議的參與度達到了最低水準。新鑄幣數量減少，與協議互動的新錢包也減少，導致產生的費用減少。

Analysts are still investigating the exact cause of the decline in Runes activity. However, it occurs against a backdrop of reduced on-chain activity on the Bitcoin network, where various metrics are approaching their lowest levels in almost a decade. It is plausible that the general slowdown in the broader Bitcoin ecosystem may have also affected activity on the Rune protocol.

分析師仍在調查符文活動下降的確切原因。然而，這是在比特幣網路鏈上活動減少的背景下發生的，其中各種指標都接近近十年來的最低水準。更廣泛的比特幣生態系統的普遍放緩也可能影響了 Rune 協議的活動，這似乎是合理的。

Technological Significance and Niche Appeal

技術意義和利基吸引力

Despite the decline in activity, the Rune protocol remains a significant technological leap forward for the Bitcoin blockchain. It enables various token standards through the UTXO model and the OP_RETURN opcode, offering a more efficient tokenization solution compared to older standards like BRC20.

儘管活動有所下降，但符文協議仍然是比特幣區塊鏈的重大技術飛躍。它透過 UTXO 模型和 OP_RETURN 操作碼支援各種代幣標準，與 BRC20 等舊標準相比，提供更高效的代幣化解決方案。

Certain Rune collections continue to command high market valuations, suggesting a resilient niche market within the protocol's ecosystem. Additionally, Casey Rodarmor, the brain behind Bitcoin Ordinals and the Runes protocol, has hinted at an audio-reactive generative art project, further underscoring the innovative spirit driving the Runes ecosystem forward.

某些符文系列繼續保持較高的市場估值，這表明該協議生態系統內存在一個有彈性的利基市場。此外，比特幣 Ordinals 和 Runes 協議背後的大腦 Casey Rodarmor 暗示了一個音頻反應生成藝術項目，進一步強調了推動 Runes 生態系統向前發展的創新精神。

In conclusion, while the Rune protocol's activity has experienced a decline since its explosive debut, its technological significance and niche appeal remain. Analysts continue to monitor its trajectory and anticipate future developments that may shape its role within the Bitcoin ecosystem.

總之，雖然符文協議的活躍度自爆發式首次亮相以來有所下降，但其技術意義和利基吸引力仍然存在。分析師繼續監控其發展軌跡並預測未來的發展，這可能會影響其在比特幣生態系統中的作用。