Runes trading volume is down more than 84% since all-time high

The Bitcoin Runes protocol is facing challenges in maintaining its share of Bitcoin transactions. Since its launch on April 20th, Runes transactions have dominated Bitcoin blockchain traffic on eight different days, mainly on weekends. The launch of Runes coincided with the fourth Bitcoin halving, causing a frenzy and driving up Bitcoin blockchain transaction volume, with miner income exceeding $100 million for the first time. On April 23rd, Runes transactions reached a peak of 81.3% market share, but dropped to 11.1% by May 2nd. During the weekend of May 4th to 6th, Runes transactions rose again, but overall showed a downward trend. As of May 22nd, Runes transactions accounted for 12.7% of the market share, far higher than Bitcoin Ordinals (0.7%) and BRC-20 (1.5%). Since its peak, Runes transaction volume has dropped by over 84%.