Runestone Airdrop Begins, Sparks Trading Frenzy on Magic Eden

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 $3,369,050 (equivalent to 50 BTC) 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) in over 112,000 Ordinals wallets. ‘Cursed inscriptions’ also qualify.

Further showcasing the weight of these collectibles, earlier this month, a vital Runestone auction took place of the most substantial Bitcoin Ordinals inscription by data size, at 3.97 MB, which achieved a sale figure of $572,973 (8 BTC) at the time.

The Runestone airdrop is a milestone in the chronicles of the Bitcoin NFT circle. It showcases the burgeoning enthusiasm for the Bitcoin Ordinals phenomenon and the escalated levels of engagement with NFTs tied to the Bitcoin structure.

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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