Solana, Ethereum meme loses coin value as bitcoin holds steady after halving

The latest Bitcoin Cut in half Held at the end of FridayHalves mining rewards For the fourth time in historyBut BTC itself is not the biggest winner in the crypto markets this weekend. Instead, it's meme coins that lead the charge, with some popular tokens posting high double-digit percentage jumps over the last day.

Dog-themed coins are the biggest winners this weekend, with Solana– Established Bonk Charting a A huge 37% jump The price jumped to $0.000021 USD in just the last 24 hours according to data from CoinGecko. BONK has effectively recovered along with much of the market before the April 12 crash.

While BONK has seen the biggest swings among the top 100 coins by market cap, other pup-centric meme coins Ethereum They're in good shape this weekend too: FLOKI has it. It jumped to 19% About $0.00017 on the last day, and Shiba Innu (SHIB) is. It has increased 14% to a value of over $0.000026..

Other hot meme coins at the moment include Ethereum's PEPE. 13% increased About $0.000006, and the Solana-based Dogwifhat ( WIF ), which rose 8% to about $3.00.

Ethereum and Solana meme coin traders may be returning to the traditional, established meme coins, while other traders may be exploring the new token frontier. Through the RunesThe new Bitcoin fungible token standard launched alongside the crash. The protocol was created by Casey Rodermore, who created the NFT-like Ordinals protocol.

As the creators of the project, there was a huge buzz around Runes. Run to be one of the first To launch a Bitcoin token using the protocol and users He spent millions together To create and fish marks in the first few blocks after it was cut in half late Friday. But so far, the volume of transactions is relatively modest, tracked by data OKX marketplace.

The most traded runes token on OKX in the last 24 hours is Satoshi Nakamoto, aptly named after the anonymous creator of Bitcoin. The token has an estimated trading volume of $2.7 million during that period, a market capitalization of $136 million, and a Bitcoin price of around $6.50.

Such a market cap doesn't put Satoshi Nakamoto Token anywhere near the top 100 total cryptocurrencies by market cap. CoinGecko, which gives some sense of the current level of demand for earlier Runes. But some traders are betting that these early Runes will show more interest in time as trading tools improve and the protocol becomes more established.

Bitcoin itself failed to generate much short-term momentum after the decline. It's up 1.5% on the day to its current price of just under $65,000, and is up only about 3% at most since Friday night's event.

But historically, Bitcoin's biggest post-halving gains come several months later when the effects of a supply increase start to show in the ecosystem.

Additionally, this particular cycle saw Bitcoin set a new all-time high in March and break the 2021 peak. in the future Among the increasing points Bitcoin ETFs, half. Post-halving price action is entering uncharted territory at this point.