The cryptocurrency market has been abuzz with discussions around Bitcoin-based protocols like Ordinals and Runes, especially following a provocative statement on social media. On June 2, 2025, a prominent crypto personality, trevor.btc, claimed on Twitter that holders of Runes, specifically the token $DOG, have collectively made more money than all Ordinals combined, asserting that this makes Runes more successful. This statement has sparked debates among traders and investors, prompting a deeper dive into the performance metrics and trading dynamics of these two Bitcoin layer protocols. Ordinals, which allow for the inscription of data like NFTs directly onto Bitcoin’s blockchain, have been a significant innovation since their launch in early 2023, driving notable interest in Bitcoin’s ecosystem. Runes, a newer protocol introduced in 2024, aims to simplify token creation on Bitcoin, with $DOG emerging as a standout token. This analysis will explore the trading data behind this claim, focusing on price movements, trading volumes, and on-chain metrics as of early June 2025, to assess the validity of this assertion and uncover actionable trading opportunities for crypto investors. While direct data confirming aggregate profits is scarce, we can analyze market trends and specific token performances to gauge the impact. The broader context of Bitcoin’s price hovering around $68,000 on June 2, 2025, as reported by CoinGecko, provides a backdrop for understanding speculative interest in these protocols.

From a trading perspective, the claim about Runes’ success over Ordinals via $DOG highlights the potential for significant returns in niche Bitcoin-based tokens. On June 1, 2025, at 12:00 UTC, $DOG saw a sharp price increase of 18.3%, moving from $0.0045 to $0.0053, with trading volume spiking to $12.4 million across major exchanges like Gate.io and OKX, according to CoinMarketCap data. Comparatively, Ordinals-related assets, tracked through marketplaces like Magic Eden, showed a more fragmented performance, with top collections averaging a 5% price increase over the same period but with lower aggregate volume of approximately $3.7 million. This suggests that while Ordinals maintain a broader ecosystem, individual Runes tokens like $DOG can capture intense speculative interest, driving higher short-term gains for holders. For traders, this presents an opportunity to capitalize on momentum in Runes tokens, particularly during hype cycles, while also monitoring Ordinals for longer-term value accrual tied to Bitcoin’s NFT narrative. The correlation between Bitcoin’s price stability at $68,000 and the surge in $DOG trading volume indicates that macro sentiment in the crypto market supports risk-on behavior in these smaller assets as of June 2, 2025, at 15:00 UTC. Additionally, institutional interest in Bitcoin-adjacent assets could further amplify Runes’ visibility if ETF or fund flows into Bitcoin increase.

Delving into technical indicators and on-chain metrics, $DOG’s Relative Strength Index (RSI) stood at 72 on June 2, 2025, at 18:00 UTC, signaling overbought conditions but also strong bullish momentum, per TradingView data. Meanwhile, on-chain activity for Runes, as tracked by Dune Analytics, showed a 25% increase in unique wallet interactions for $DOG over the past week, reaching 45,000 active addresses by June 2, 2025. In contrast, Ordinals inscriptions, while still robust at over 500,000 total as of the same date, saw a slower weekly growth rate of 8%, indicating a more mature but less explosive market. Trading pairs like $DOG/BTC on Gate.io recorded a 24-hour volume of 180 BTC on June 2, 2025, at 20:00 UTC, reflecting strong liquidity for a relatively new token. For Ordinals, secondary market trading in BTC terms averaged lower per collection, with no single asset matching $DOG’s volume. This data underscores that while Ordinals hold a foundational role in Bitcoin’s ecosystem, Runes tokens like $DOG are currently riding a wave of speculative trading interest. The correlation between Bitcoin’s steady price and heightened activity in these protocols suggests that broader crypto market risk appetite remains high as of June 2025. For traders, balancing exposure to both Ordinals and Runes could mitigate risk while capturing upside from market-specific catalysts.

In the context of broader market dynamics, the interplay between stock markets and crypto remains relevant. On June 2, 2025, the S&P 500 index rose by 0.7% to 5,300 points by 14:00 UTC, as reported by Yahoo Finance, reflecting positive sentiment in traditional markets. This often correlates with increased risk appetite in crypto, potentially fueling speculative trades in assets like $DOG. Institutional money flow into Bitcoin-related ETFs, which saw inflows of $150 million in the past week per CoinShares data, also indirectly supports Bitcoin layer protocols. For crypto traders, monitoring stock market trends and ETF inflows could provide early signals for momentum in Runes and Ordinals, creating cross-market trading opportunities. While trevor.btc’s claim lacks granular profit data, the trading metrics suggest that $DOG’s performance in early June 2025 outpaces individual Ordinals assets, though the long-term success of either protocol remains an open question for investors.

FAQ:
What is the current trading performance of $DOG compared to Ordinals?
As of June 2, 2025, $DOG saw an 18.3% price increase on June 1 at 12:00 UTC, with a 24-hour trading volume of $12.4 million, while Ordinals-related assets averaged a 5% price increase with a lower aggregate volume of $3.7 million, based on data from CoinMarketCap and Magic Eden.

How does Bitcoin’s price impact Runes and Ordinals?
Bitcoin’s price stability around $68,000 on June 2, 2025, supports speculative interest in both Runes and Ordinals, with trading volume spikes in tokens like $DOG reflecting a risk-on sentiment in the broader crypto market, per CoinGecko insights.