The Bitcoin Runes protocol has experienced a significant decline in transaction activity, dropping from over 750,000 daily transactions in April to struggling to reach 100,000 in December. Following a peak where Runes accounted for more than 81% of all Bitcoin blockchain transactions, interest waned throughout the year. Despite recording over 15 million transactions in its initial four months and generating over $160 million in fees by August, Runes' transaction share fell under 9% in July. December saw further decline, with Runes maintaining less than 10% of Bitcoin transactions, except for a small spike on Christmas Day. This downturn aligns with a broader decline in interest in NFTs, which saw record-low sales volumes in September before a brief recovery in late 2024. The decline reflects a challenging environment for the Runes protocol amidst the fluctuating interest in digital collectibles and NFTs.

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