Rune Protocol 的起起落落：活动指标急剧下降

比特币 Runes 协议的活动急剧下降，并于 5 月 11 日达到最低水平。此次下跌是在 4 月 19 日发布后活动激增之后发生的，恰逢比特币减半。尽管最初推高了交易费用，但 Runes 活动已经减弱，该协议在第一周仅产生 1.35 亿美元的费用，而此后的水平明显较低。符文活动的下降与比特币网络的更广泛放缓以及减半后观察到的费用降低相一致。

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

符文协议的兴起与落潮：对其活跃度的全面分析

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 协议是一项基于比特币区块链的革命性创新，自 4 月 19 日推出以来，其活动量显着下降，恰逢最新的比特币减半事件。加密货币分析师 Runes Is 在 Dune 分析仪表板上编制的数据显示，关键增长指标明显下降。

A Blockbuster Debut and Subsequent Decline

轰动一时的首次亮相和随后的衰落

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 协议一经推出，就引发了爆炸性的首次亮相，带动了比特币交易费用的飙升，单日交易额达到创纪录的 1.07 亿美元。在推出的第一周内，它就收取了惊人的 1.35 亿美元费用。然而，围绕《符文》的热情似乎在其推出后几周内有所减弱。

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.

根据 Runes Is 的数据，自 5 月 1 日以来，仅蚀刻了 5,023 个符文，与仅 4 月 30 日蚀刻的 9,639 个相比，大幅下降。 5 月 11 日记录的蚀刻活动最低，仅为 129。

Transaction Volumes and Bitcoin's Influence

交易量和比特币的影响

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.

从交易量来看，4 月 20 日和 4 月 23 日是 Runes 的高峰日，该协议以 77% 和 69% 的份额主导比特币网络。这一转变受到了采矿界的欢迎，他们目睹了比特币减半导致的收入下降。

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，符文协议对比特币的平均交易费用产生了深远的影响。 4 月初，费用徘徊在 5 美元左右。然而，随着 Runes 的推出，4 月 20 日费用飙升至 128 美元以上，创下历史新高。然而，随后几天，符文交易量持续下降，占比特币网络总交易量的比例不到 30%，直到 5 月 5 日出现逆转。

May 11th: A New Low for Rune Activity

5 月 11 日：符文活动再创新低

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 日标志着符文活动的新低，该协议的参与度达到了最低水平。新铸币数量减少，与协议交互的新钱包也减少，导致产生的费用减少。

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.

分析师仍在调查符文活动下降的确切原因。然而，这是在比特币网络链上活动减少的背景下发生的，其中各种指标都接近近十年来的最低水平。更广泛的比特币生态系统的普遍放缓也可能影响了 Rune 协议的活动，这似乎是合理的。

Technological Significance and Niche Appeal

技术意义和利基吸引力

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.

尽管活动有所下降，但符文协议仍然是比特币区块链的重大技术飞跃。它通过 UTXO 模型和 OP_RETURN 操作码支持各种代币标准，与 BRC20 等旧标准相比，提供更高效的代币化解决方案。

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.

某些符文系列继续保持较高的市场估值，这表明该协议生态系统内存在一个有弹性的利基市场。此外，比特币 Ordinals 和 Runes 协议背后的大脑 Casey Rodarmor 暗示了一个音频反应生成艺术项目，进一步强调了推动 Runes 生态系统向前发展的创新精神。

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.

总之，虽然符文协议的活跃度自爆发式首次亮相以来有所下降，但其技术意义和利基吸引力仍然存在。分析师继续监控其发展轨迹并预测未来的发展，这可能会影响其在比特币生态系统中的作用。