Bitcoin Runes come to Magic Eden after ordinary bets have paid off.

Cross-chain NFT marketplace Magic Eden, which recently Jump to the top of the pack As demand grows Bitcoin ordinaryannounced Friday that it plans to support the upcoming Runes fungible token Regular at Bitcoin.

“Turns, Rewards, Runes. The future of BTC lies in Magic Eden,” the marketplace tweeted along with a teaser video.

The Rune protocol is about to launch on the following Bitcoin mainnet. Half of itThat's it It is expected to be held on April 20. It's a four-year event baked into the Bitcoin protocol that halves the amount of BTC miners earn for supporting the network. The move reduces the ever-expanding supply of Bitcoin, and typically drives up the asset's value.

Runes are a token standard from Bitcoin developer Casey Rodermore, who created an ordinal protocol for writing media on the Bitcoin blockchain.

Fungus Tokens have been available on Bitcoin for the past year through testing BRC-20 token level Created on top of Ordinals, Runes is being developed to create and trade tokens on Bitcoin in a more efficient way.

“We think Runes will further complement the Bitcoin ecosystem,” said Z Yin, founder and chief operating officer of Magic Eden. Decrypt.

“We have a long-standing conviction for native Bitcoin activity,” he continued. “With Runes reaching $1 billion in 2024 alone, doubling this ecosystem on our current regular marketplace is a no-brainer for us.”

At the beginning of this year, Magic Eden started its work Diamond Rewards Program Supported by all blockchains, including Bitcoin; Solana, EthereumAnd Polygon. The initiative will provide NFT traders with diamonds, similar to diamond points, for both past and future transactions, although it's still unclear how exactly those diamonds will benefit users.

But, parallel to the Diamond program, the absurd DAO—which Magic Eden says is run by its own external team—He plans to launch a fungible token called “NFT”. It is provided to users of certain open source transaction and protocol protocols. All protocols described to date were created by Magic Eden.

Between the launch of Diamond and NFT tokens, interest in Bitcoin-based assets is increasing among leading cryptocurrency's. Recent increases to all-time high pricesMagic Eden has quickly gained new footing to become the largest NFT marketplace by trading volume.

Decrypt reported In early March, that demand for Bitcoin Ordinals pushed Magic Eden to the top of the pile, accounting for 38% of the total NFT market volume in a 24-hour period, according to public blockchain data compiled by analytics platform Tiexo.

That gap has been widening lately. In the last 24 hours Teco Magic Eden reports that it is responsible for more than 52 percent of the chain's total business volume, worth $35.6 million. And Bitcoin casual transactions represent about 69 percent.

Thursday riots Starting a paint project With $18.8 million in trading volume in the last 24 hours on Bitcoin Ordinals, it seems to hold a large chunk of that. Marketplace data.

Over the past seven days, Magic Eden has remained on top—but the blur of the Ethereum-centric marketplace has presented itself during that time. Magic Eden has a 35.7% market share during that period, while Blur has about 32%. Tensor, who has been the biggest rival of Magic Eden on Solana, and plans It will soon launch its own TNSR tokenIt has about 7.5% total market share in the last week.

Edited by Ryan Ozawa.