Bitcoin Ecosystem Tokens, RUNE, STX, and ORDI May See Gains After Halving

Bitcoin’s upcoming halving event has traders speculating on the potential gains of related networks and ecosystem tokens. Traders are particularly interested in tokens such as STX, RUNE, and ORDI, expecting them to rise in value. Some traders suggest that bitcoin-based meme coins, non-fungible tokens (NFTs), and Ordinals could form a “barbell strategy” that combines both technical and non-serious projects. The halving event, which reduces the rate of new coin creation, has historically preceded a bull market for bitcoin. With money narratives continuously shifting in the current bullish environment, traders are looking for reasons to buy and may turn their attention to the bitcoin ecosystem. Tokens like RUNE, STX, and ORDI could benefit significantly if capital begins to rotate into the bitcoin ecosystem. RUNE and STX have been top-performing tokens, tracking bitcoin’s rise, while ORDI, a meme coin referencing the Ordinals protocol on Bitcoin, has surged over 2,500% since its September issuance. Bartosz Lipinski, the founder of Cube.Exchange, believes that Ethereum’s high costs and network congestion will cause it to take a backseat, redirecting meme coin hype to the bitcoin ecosystem. He also suggests that the upcoming Runes protocol could further stir up risky bets in the bitcoin ecosystem. The BRC-20 standard, which encompasses Ordinals NFTs, may be overtaken by Runes, scheduled to launch on the day of the halving. Runes aims to replace the standard with fungible tokens, enabling the efficient creation of meme coins to compete with projects on Base and Solana. While Ordinals embed data into the Bitcoin blockchain through small transactions, their volumes have surpassed those of Ethereum and Solana recently, indicating isolated interest in Ordinals compared to NFTs on other networks.