The inscription NFT “Blob” has sparked a wave of runic frenzy in the Bitcoin ecosystem, with the floor price soaring by 353.38% in the past 24 hours, reaching 0.0751 BTC, worth over $4,700. This breakthrough was achieved by the Blob team engraving the runic EPIC•EPIC•EPIC•EPIC on the Epic Sat, the first Sat after the Bitcoin halving, and the team pre-mined 95%, which means that there may be an airdrop to Blob holders, incentivizing buying pressure for Blob. The market value of the EPIC token has surpassed $83 million, making it the second largest runic token in terms of trading volume.
Blob team engraves the runic EPIC•EPIC•EPIC•EPIC on the Epic Sat
The market value of $EPIC exceeds $83 million, with a total trading volume of over $1 million
How to determine the rarity of Sats
The runic frenzy continues to impact the Bitcoin ecosystem. Yesterday (5th), the well-known inscription NFT “Blob” reached a new high. According to OKX market data, its floor price rose by over 16% in the past 24 hours, reaching 0.0751 BTC at one point. At the time of writing, it was reported at 0.0739 BTC, worth over $4,700.
Blob saw a huge increase in value because the Blob team, @bookofblob, engraved the runic EPIC•EPIC•EPIC•EPIC ($EPIC) on the latest “Epic Sat” at 3:24 pm on the 5th, featuring the first neural-generated 3D audio-video scene.
According to GeniiData, the team pre-mined 95% of $EPIC, which, according to the culture of the runic ecosystem, means that there may be an airdrop of the token to Blob holders, incentivizing buying pressure for Blob. The remaining 5% of the supply was fully minted before 7:41 pm yesterday, which temporarily caused transaction fees on the Bitcoin network to surge to $16 to $26 per byte. At the time of writing, it has significantly dropped to $1.25 to $1.34.
According to OKX market data, the floor price of $EPIC is currently reported at $0.082 (128.95 sats), and its market value has surpassed $83 million, making it the fifth largest runic token. In addition, $EPIC ranks second in terms of trading volume, reaching $148,000, just behind DOG•GO•TO•THE•MOON. In the Magic Eden market, $EPIC is also the second largest token in terms of trading volume, with a trading volume of over 14.59 BTC (approximately $933,558), showing high market enthusiasm.
Runic market value rankings
As previously reported, the fourth Epic Sat, identified as “Sat 1,968,750,000,000,000” on Ordinal, was sold for 33.3 BTC ($2,134,000) on the 25th.
This is one of only four Epic Sats in the Bitcoin ecosystem at present. The rarity levels, such as Common Sat and Epic Sat, are defined by the Ordinals protocol. Miners who mined the first block after the previous three halvings could only boast about it verbally. However, with the introduction of the Ordinals protocol last year, Sats can now be identified and traded like NFTs.
Regarding the rarity of Sats, according to official Ordinals documentation, it is essentially based on the rarity of certain periodic events in Bitcoin itself. It is a rarity system defined by humans.
These periodic events include:
Blocks: Approximately one new block is mined every 10 minutes. This value is constant.
Difficulty Adjustment: Every 2016 blocks, or every two weeks, the Bitcoin network adjusts the difficulty target based on changes in hash rate.
Halving: Every 210,000 blocks, or every four years, the block reward is halved.
Cycle: Every six halvings, something magical happens: halving and difficulty adjustment occur simultaneously. This is called an “overlap,” and the time between two overlaps is called a “cycle.” An overlap occurs approximately every 24 years. The first overlap is expected to occur around 2032.
This gives us the following rarity levels:
Common: Any Sat except for the first Sat of a block (total supply of 21 quadrillion)
Uncommon: The first Sat of each block (total supply of 6,929,999)
Rare: The first Sat of each difficulty adjustment period (total supply of 3,437)
Epic: The first Sat after each halving (total supply of 32)
Legendary: The first Sat of each cycle (total supply of 5)
Mythic: The first Sat of the genesis block (total supply of 1)
According to the rarity levels, the Epic Sat auctioned by ViaBTC this time will only have 32 Sats until the year 2140 when Bitcoin is mined, and 4 have already been mined (four halvings). The first Legendary Sat will not appear until 2032. As for whether the Mythic Sat is still retained in Satoshi’s wallet, we do not know.
For more information, refer to the following report:
Only four on the entire network: ViaBTC auctions Bitcoin halving “epic rare Sat,” bidding exceeds 5 BTC.