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More than 90,000 wallets have received their Runestones, which are trading on secondary markets for $1,200.<\/p>\n
Ready to get stoned?<\/p>\n
The highly anticipated Runestones airdrop<\/a> began yesterday, causing a flurry of excitement across the Ordinals<\/a> ecosystem.<\/p>\n Runestones are being distributed in batches of 1,400, and as of this writing, the project has sent more than 90% of them to a total of 112,383 eligible wallets. According to Ordinals Wallet, there are 90,623 owners, with 102,201 already in users wallets.<\/p>\n Secondary markets on Magic Eden<\/a> and Ordinals Wallet<\/a> show the floor price sitting at 0.018 BTC (roughly $1,200).<\/p>\n <\/p>\n \u201cRemember that you earned your Runestone by showing up and participating in Ordinals when nobody else did,\u201d said<\/a> self-proclaimed NFT historian Leonidas yesterday. \u201cThis was the only way to get a Runestone, and there was no team allocation or pre-sale.\u201d<\/p>\n The \u201cfairdrop\u201d comes in anticipation of Ordinal\u2019s creator Casey Rodarmor\u2019s new protocol, Runes, which was announced in September and offers a UTXO-based alternative to the BRC-20 token standard \u2013 given the latter\u2019s energy inefficiency.<\/p>\n UTXOs, or unspent transaction output, is the \u201cchange\u201d a Bitcoin transaction leaves after sending funds to a different wallet. Rodarmor\u2019s Runes protocol aims to leverage this system by assigning tokens to a specific UTXO, allowing for a simple and efficient way to inscribe arbitrary data Inscriptions onto Bitcoin.<\/p>\n Each Runestone will transform into a Runes token when the protocol goes live.<\/p>\n According to Magic Eden, Runestone’s market cap is roughly $125 million, with 24-hour trading volume of 170 BTC ($11.5 million).<\/p>\n Ordinal inscriptions can be thought of as equivalent to NFTs<\/a>. They allow non-financial data, from JPEGS to text to videos, to be inscribed on the Bitcoin blockchain. Inscriptions are linked to an individual satoshi, the smallest denomination of Bitcoin.<\/p>\n <\/p>\n