Many Bitcoin inscription holders are getting a significant wallet boost owing to the long-awaited Runestone airdrop finally arriving — and it’s sparking a surge in secondary sales on Magic Eden BTC!
A late announcement last night revealed that, over two days, 112,383 Runestone are finally finding their way to Bitcoin storage accounts. Transactions are led by Ordi.io, a hub for Bitcoin Ordinals.
Capturing the zeitgeist, Runestone’s total volume of secondary sales on Magic Eden BTC has already soared to $4.8 million (69.9136 BTC), with the collectibles typically selling for around $900 (0.01309 BTC) apiece.
In the secondary marketplace, Inscription #64366802 notably stands out, boasting an eye-boggling valuation of roughly $7 million (103.02 BTC).
“There is no shame in selling your Runestone. Everyone has different life circumstances. Congrats to all buyers and sellers,” Leonidas, an influential member of the Runestone initiative (and real-world sculptures), remarked on X.
Distribution Dynamics and Market Reactions
Only 45 minutes after initiating the distribution, Leonidas announced the successful dispatch of four clusters and noted that operations were running smoothly.
Following on, 24 hours post-launch, the airdrop was only 38.6% complete. Still, it rapidly surpassed over $3 million (equivalent to 50 BTC) during this time in secondary market volume, making it the top-performing NFT collection across all blockchains over the past day.
Bitcoin storage account holders now have less than 24 hours to secure one of these sought-after assets before time runs out, provided they pass the requirements: hold at least three inscriptions from block 826,600 onwards (excluding text or JSON types). ‘Cursed inscriptions’ also qualify.
Further spotlighting the weight of these collectibles, earlier this month, a Runestone auction took place of the most substantial Bitcoin Ordinals inscription by data size, at 3.97 MB. At the time, it achieved a sale figure of $572,973 (8 BTC).
As the airdrop reaches completion and the inscriptions start circulating more widely, the significant impact of this hefty distribution on the overall NFT and web3 spheres is expected to draw continued interest.
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