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DECENTRALIZED: All About the New Rune Token on Bitcoin

2024-07-05 06:53:54

What is the ⚡️DECENTRALIZED Rune?

DECENTRALIZED is a rune etched on the Bitcoin network by the CyberKongz team. The rune was launched on the same day as the fourth Bitcoin halving, i.e., April 20, 2024. It was etched using the Runes Protocol. The Protocol was also introduced on the halving.

Project Introduction

DECENTRALIZED first began as a Pre-Rune Ordinals collection called "Prometheans," created by the CyberKongz team. This collection had a supply of 21,000 and was airdropped to hand-selected Ordinals communities (85% of the supply) as well as existing CyberKongz holders (the remaining 15% of the supply). Since this was airdropped, there was no mint fee for people to pay.

As the name suggests, DECENTRALIZED was launched with the aim of representing the decentralized culture and ethos of Bitcoin, the currency that pioneered the establishment of this massive crypto market we see today.

Like other runes, DECENTRALIZED came to expand and add value to the Bitcoin ecosystem. It is a provenance rune that connects with Bitcoin's core principle, the decentralization of money. All the trades that are taken in this rune directly or indirectly impact the overall Bitcoin ecosystem and help in its expansion in the form of trading volume. 

Key Aspects of DECENTRALIZED:

Rune Specifications:

  • Ticker: ⚡️DECENTRALIZED
  • Divisibility: This was set at 2 to allow the rune to be broken down into hundredths, enhancing utility for transactions.
  • Premine: The entire 21 billion units were premined. This was a strategic decision for Promethean holders. 

Fixed Token Supply

DECENTRALIZED has a fixed token supply of 21 billion tokens. The number resembles the total supply of Bitcoin, which is 21 million. However, unlike BTC, 100% of its supply is already in market circulation.

Allocation of Tokens

The CyberKongz team distributed the 21B supply of DECENTRALIZED as follows:

  • 91% of supply to Prometheans holders
  • 4.5% to Ordinal communities
  • 4.5% to launch contributors

Price And Market Cap:

The current price of DECENTRALIZED ranges around $0.000874 as of 5th July, 2024. Its 24-hour trading volume stands at $7.25M on CoinEx. With its entire supply open for trading, DECENTRALIZED holds a total market cap of more than $18.35 million.

Price Variation on CoinEx

The chart shows a decrease of -21.99% in the price of DECENTRALIZED in the last 24 hours, representing a decline in its price. CoinEx recorded the token's all-time high (ATH) at around $0.003272 in the first week of June. This is 274% higher than the current price of the token, showing that the token is selling at a much lower cost than it was at the start of the month.

If you want to trade cryptocurrencies, CoinEx is the best place to find outstanding volatility and prices.

Overview

*This article does not constitute investment advice.

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