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Alkimiya
@alkimiya
You’ve seen the Taproot Wizards team’s success with Quantum Cats; and their engaged community; and their purpose in the BTC world; and BTC•FEERATE•RUNES. But can you see how feerate will be impacted during their upcoming mint? 👀 If you’re a curious one, let’s recap trends and patterns from past events 🧵 https://x.com/alkimiya_io/status/1902343771167322275
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Alkimiya
@alkimiya
🔸 Runes Mints in November 2024 During the craze, countless Runes were etched and minted, allowing us to compare the different mint behaviours of traders. 🪄 In the case of Taproot Wizards mint: In comparison to each other, the WL mint pattern is likely to be “dragged”, while the non-WL dutch auction is likely to be “spiked”. The WL mint will happen over 7 hours, and since the NFTs are already “allocated”, this window allows minters to avoid high feerates as much as possible. Due to the limited supply of 2,085 NFTs, there is a high possibility that non-WL minters will fight to mint one regardless of the price. What does this mean for BTC feerate traders? Despite the different patterns of minters in each phase, feerate has a high potential of being driven by this mint event overall. Check out “Spiked” vs. “Dragged” Runes mints and the effect of their duration on feerate ⤵️ https://x.com/alkimiya_io/status/1856323081943560483
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