Runecoin Hits New High with OKX Listing

In a significant development in the cryptocurrency space, Runecoin, associated with the RSIC Metaprotocol and created using the Bitcoin Runes protocol, surged to a new all-time high following an announcement from OKX about its upcoming listing. This marks a pivotal moment for Runecoin as it becomes the first Runes token to be listed on the centralized exchange, with trading set to commence on Tuesday, April 30.

OKX aims to stir interest and engagement through a 24-hour rewards campaign ahead of the listing, allowing customers to earn a share of Runecoin by staking their Bitcoin (BTC) on the platform. This promotional strategy, known as the “Jumpstart” campaign, echoes similar initiatives like Binance’s “Launchpool,” designed to introduce new coins to the crypto community while rewarding exchange users.

The price of Runecoin skyrocketed to 29 satoshis, nearly $0.02 per token, setting a new record. Despite a slight pullback to 24 satoshis, the market cap of Runecoin remains robust at $316 million, bolstered by a total supply of 21 billion tokens. It has emerged as the most-traded Runes token in the last 24 hours on both OKX and Magic Eden.

The Bitcoin Runes protocol, which allows for the creation of fungible tokens such as meme coins on the Bitcoin blockchain, was launched by Ordinals protocol inventor Casey Rodarmor. This protocol, developed on top of last year’s experimental BRC-20, is touted as a more efficient implementation, quickly gaining traction among centralized exchanges. Gate.io was among the first to list prominent Runes tokens shortly after the protocol’s launch.

This listing is not only a triumph for Runecoin but represents a significant advancement for the Runes ecosystem as a whole. As stated by the project on Twitter (X), this milestone is crucial for fostering adoption, education, and innovation around Ordinals, Runes, and Bitcoin.

Moreover, the RSIC Metaprotocol, from which Runecoin originates, consists of 21,000 NFT-like Ordinals inscriptions that were distributed for free to Ordinals collectors in January. This initiative is part of a broader narrative that includes a gameplay element where holders can mine tokens, culminating in the creation and subsequent airdrop of Runecoin to RSIC holders last week.