Runes’ trading share has plummeted to just 1.67% of daily Bitcoin transactions, down from over 50% earlier this year, highlighting a significant decrease in network engagement and investor focus.

The decline in Runes correlates with broader trends as investors pivot to alternatives like AI, memecoins, and NFTs. This has overshadowed Bitcoin token protocols, indicating a cooling interest in HIGH-risk applications.

Despite the downturn, historical patterns suggest that interest may return to Runes if Bitcoin prices stabilize. Observing these developments is vital for understanding future market dynamics.