Log In
CoinEx Academy

Breaking Down The EPIC Runes: Everything You Need To Know

2024-05-13 07:51:29

EPIC•EPIC•EPIC•EPIC, or simply EPIC, is a BTC Runes token that was listed on CoinEx on May 7, 2024. It is the third runes token to come into the limelight after DOG and RSIC.

Let's dig down to see how runes tokens work and why they are becoming the talk of the town, especially after the fourth BTC halving.

Brief History and Background

The first Epic Sat (the first satoshi of the halving block) was inscribed by an interactive audio-visual message from @bookofblob. It's tied to the Runes EPIC•EPIC•EPIC•EPIC.

Bitcoin Runes are meme coins minted and etched using the BTC Runes protocol. Runes protocol was launched by the creator of Ordinals on the day of the fourth Bitcoin halving, i.e., April 20, 2024.

It is a new token standard to mint fungible tokens, such as meme coins and degens, in the Bitcoin ecosystem. This will help the Bitcoin network become more efficient and expand to a wider audience through the creation and trading of more tokens on the blockchain.

The purpose of these runes is to incentivize miners in the form of fungible assets, as the mining reward has already been reduced to 3.125 BTC after the fourth halving. Through the Runes protocol, miners will stay motivated to keep serving the Bitcoin ecosystem by mining Bitcoins, even if they get a lower reward in the form of BTCs.

DOG and RSIC were the first two Bitcoin Runes airdropped to the Runestone wallet holders. EPIC, being the third Bitcoin Runes, has just started listing on exchanges for trading. Although Bitcoin Runes are airdropped to miners and wallet holders only, normal crypto users can still trade them on various CEXs and DEXs. This is because these coins will get listed on exchanges within almost a week after being airdropped.

The Price Variation of EPIC on CoinEx

The EPIC coin is trading at $0.048 at press time. CoinEx recorded its all-time high (ATH) at $0.062 on the day of listing.

As CoinEx Global is the first-ever exchange that lists this EPIC for users, the trading volume of the coin is only $5K+ at press time. The total supply of EPIC is 1 billion. However, the entire supply is already in circulation, with a total market cap of $49 million at press time.

As more and more Bitcoin Runes are released into the market, it's obvious that the price of these meme coins will decline over time due to saturation. Until any official announcement comes from the creators, the only utility of Bitcoin Runes is incentivizing the miners who are the direct beneficiaries of this new token standard.

Therefore, the prices of Runes tokens may only be driven by occasional news and sentiments, just like other meme coins. If you're interested in trading cryptocurrencies, the best place to get outstanding volatility and prices is CoinEx.


 *This article does not constitute investment advice.

CoinEx Celebrates Bitcoin Pizza Day with "One Bite of Bitcoin" Campaign
Runecoin: Exploring BTC Potential on the Rune