Bitcoin Gets a Meme Coin Launchpad Like Pump.fun—Can It Boost Runes?
Bitcoin has introduced a meme coin launchpad called Odin.fun, akin to Solana's popular Pump.fun, aimed at energizing the meme coin market. Launched by the founders of a marketplace for AI-based collectibles, Odin.fun is designed for speed, featuring transaction finalities of just two seconds. This is particularly important as meme coin traders often seek rapid transactions to react to market movements. Runes, Bitcoin's meme coin standard, present unique challenges due to the absence of smart contracts, requiring users to transact in batches and facing constraints from Bitcoin's 10-minute block times. Despite initial excitement—where Runes accounted for 81% of Bitcoin's network activity—recent reports indicate a downturn in prices for several meme projects. With the market in volatility, Odin.fun will use a structured launch process allowing Runes to gain traction, mirroring the success seen on the Solana’s platform, which has generated substantial trading fees. Currently in beta with around 200 users, a full launch is scheduled soon, aiming to enhance the ecosystem of Bitcoin-based meme coins.
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