The Bitcoin Runes protocol, a new UTXO-based fungible token standard proposed by Casey Rodarmor, creator of the Ordinals protocol, was launched alongside Bitcoin's fourth Halving on April 20, 2024. This protocol aims to facilitate the creation of fungible tokens on the Bitcoin blockchain, enhancing transaction revenue for miners. The launch has generated significant attention, with over 1.5 million Runes-related transactions and 8155 Runes etched within the first three days. Additionally, Magic Eden has introduced a marketplace for Runes, featuring new functionalities like splitting, analytics, and minting/etching to streamline BTC token trading.