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Why Runes Might Be the Top Opportunity of Q4-2024
- Runes, inscribed Bitcoin sats, are currently on the rise and are known as the new opportunity of Q4-2024 with the current run of memecoins on Ethereum and Solana. Memecoins currently offer a low market cap and are not traded by too many people yet, making it an interesting opportunity in the future. Runes can be traded through Magic Eden. PUPS WORLD PEACE is up 582% over the last 30 days, while DOG GO TO THE MOON is sitting at a $550 million market cap. Magic Eden recently announced that it will offer swaps by the end of this month, which would bring the Bitcoin memecoins much closer to mainstream audience.
- Memecoin season could now be in Bitcoin too, and Runes could potentially become the hottest trend. There are currently various Runes collections up between 40% to 500% which indicate that Bitcoin memes are in full swing, and running alongside Ethereum, Solana, and Sui.
- Trading Runes is more complicated than trading memecoins however, as Runes need manual listing in batches and must be bought by someone. Magic Eden is one of the best-known places for trading these inscribed sats. There is an easy guide to buying Runes by visiting Magic Eden, getting Bitcoins in wallet and buying Rune from there.
- Current market caps of memecoins on various chains like Ethereum, Solana and Sui are included in a chart. It shows the Runes and Bitcoin memecoins market cap is still low, which is an interesting opportunity for Q4 2024. However, Runes have high volatility as well.
- Although the infrastructure behind trading Runes is not complete, Magic Eden is working on it and could potentially offer CEX listings, bringing Bitcoin memecoins closer to mainstream audience.
- Altcoin Buzz reminds us that their information is not financial advice and any investments could result in losses, so please ensure you do your own due diligence prior to investing.
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