As the cryptocurrency community eagerly awaits Bitcoin's upcoming halving event, analysts are predicting potential gains for related networks and ecosystem tokens, including RUNE, STX, and meme coin ORDI.
After the Halving, All Eyes on Bitcoin Ecosystem Tokens RUNE, STX and ORDI
Investors are monitoring both technical and meme coin projects, expecting bullish momentum after the halving.
The halving event, scheduled to take place at the end of this month, will reduce the rate at which new Bitcoin coins are produced, effectively reducing the new supply available. Historically, this event has heralded a bull market for the flagship cryptocurrency.
Market participants are actively seeking opportunities to benefit from evolving narratives in a bullish environment. As attention turns to the Bitcoin ecosystem, investors are expecting an increase in investments.
Wintermute's OTC desk highlighted the existence of a significant pool of untapped capital in the Bitcoin ecosystem, underlining the potential for listed assets such as RUNE, STX, and ORDI to benefit from capital rotation.
According to CoinGecko data, RUNE and STX have emerged as top performers over the past year, closely following Bitcoin's rise.
Inspired by the Ordinals protocol in Bitcoin, meme coin ORDI has witnessed an impressive rise of over 2,500% since its launch in September.
Bartosz Lipinski, founder of Cube.Exchange, predicts that meme coins and the upcoming Runes protocol could lead to speculative activity in the Bitcoin ecosystem.
Lipinski noted that Ethereum's high costs and network congestion could cause a shift in focus towards Bitcoin-based projects like Rune, which stands to benefit from meme coin Hype.
*This is not investment advice.