The Runes protocol has sparked a new trend in the world of cryptocurrency, with tokens derived from Bitcoin gaining traction. These tokens, known as BRC20 tokens, are gaining value rapidly, with the market capitalization surpassing $2.8 billion. Recently, there has been a surge in the popularity of tokens based on the Runes protocol, leading to increased speculation and trading activity.

One popular token, called Z•FEHU, has seen significant price fluctuations, trading at 25,999 satoshis or $17.21 per token. Just a day earlier, it traded at 64,999 satoshis or $42 per token. Another token, RSIC•GENESIS•RUNE, or RSIC, has also seen substantial trading activity, with 686 sales recorded so far. Despite having a base price of 19.6 satoshis or $0.012 per token, RSIC's fully diluted valuation is estimated at $267.37 million.

Similarly, the token SN, short for SATOSHI•NAKAMOTO, has gained traction with 5,293 sales and a market cap of approximately $132.3 million. Despite the limited liquidity of these tokens compared to more established cryptocurrencies, their market valuations remain high, driven by speculation and interest from buyers.

Other Runes-based tokens, such as 'MEME•ECONOMICS,' 'THE•TICKER•IS•ELSA,' and 'RARE•PUPS•PUPCASH,' are also active in the market, attracting buyers for various reasons, including their connections to existing projects and speculative potential.

While it's too early to predict the future demand for Runes-based tokens, enthusiasts are optimistic about their potential for significant value appreciation. However, some observers view the recent trend as temporary. Nonetheless, the emergence of Runes-based tokens has made a significant impact on the cryptocurrency market, leaving a lasting impression on investors and traders alike.