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Runes gains momentum on Bitcoin network as miner fees increase by 32%

Author: Content Editor
The Bitcoin-based non-fungible token (NFT) protocol Runes has experienced an increase in transaction volume, accounting for approximately a quarter of all Bitcoin network transactions in the past week. This growth in transaction volume is unique to Runes, with other Bitcoin-based protocols seeing only minimal increases. The rise in Runes transactions is likely linked to the recent increase in the value of Runes tokens. Despite the surge in token prices, their volume remains relatively low. Runes' volume has doubled this week, partly due to expectations about the upcoming Swaps feature for Runes tokens on Magic Eden. The resurgence in Runes transactions is positive news for Bitcoin miners, who can expect additional revenue. The increased activity on the Bitcoin network has led to higher fees for miners. BTC has also seen recent volatility, gaining almost 7% today and reaching $63,000. This performance comes after various events threatened to cause a collapse in its price.

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