The Bitcoin halving event is usually a one-token show. But this year, it shared the stage with the much-anticipated debut of Runes, a new fungible token protocol that stole the spotlight.

The Runes protocol, which will allow users to spin up scads of tokens atop Bitcoin like those commonly seen on other blockchains like Ethereum and Solana, could build on the success of Ordinals.

Bitcoin Runes, a new protocol for issuing fungible tokens on the Bitcoin network, is set to go live with the Bitcoin halving later this week. Yet, the real market opportunity for Runes may only ...