The Bitcoin Network
IN THIS lesson we will learn how to split our runes
The most talked about subject in Runes is the fact that people seem to not understand the importance of splitting your runes. Split your runes Silly cats, it is better for everyone!!
Splitting Runes
We will be using Magic Eden to split our Runes lots.
Steps:
Go to https://magiceden.io/runes.
Click on your Portfolio page (on the header menu).
Go to the Rune you would like to split and click the dropdown button right next to the total Rune balance.
You will now see all the lots you have of that specific Rune.
On the Actions column (right end of the table) you will see 2 buttons, "List" and "Split".
Click the "Split" button on the line of the lot you want to split, and a modal will appear prompting you to select the amount you want to split and in how many lots.
Click "Split Runes" and sign the transaction with your wallet. The process takes as long as a normal transaction, so don't be stingy with the gas fee, I would recommend using the “Fast” gas setting as the dollar amount difference is minimal (~$1). Once your transaction is confirmed on the block give it 2-5 minutes for your new Runes lots to appear on Magic Eden ready to be listed.
Step 6: Click the “Split” button
Step 6: Select # of split lots
Step 7: Sign transaction
Important things to keep in mind when splitting Runes:
You want to split your Runes in low-fee environments, so ideally look to split your Runes when the mempool is in the 10-25 sat/vb range. There are exceptions to this, so if your Rune is going up like crazy and you want to sell but only have a large lot, go ahead and split them even with higher fees, as the price you pay will be negligible compared to what you get when you sell.
You want to split your Runes in lot sizes that make sense for how big your Rune Market Cap is. I would recommend keeping lots sized at $50 to $500 ($1k max), as you can sell smaller lot sizes for a 2-10% premium when there is a huge lot ($1k+) on the floor. In addition to that, smaller lots keep the buying pressure going and build FOMO, resulting in more profit for you.
You don't want to oversplit smaller Runes, as Magic Eden requires lots to cost more than 10k Satoshis ($6-$7 currently) to list them for sale. So, if you split a normal lot of a $100k Market Cap Rune into 10 lots, those are going to cost around $10 each, so if the price drops a little bit you won't be able to sell them.
I would recommend you split your runes into 3-6 lots depending on the size of the initial lot and the size of the Rune in question. The cost is minimal, $5-$10, and you can recover that fast by listing these smaller packs 2-10% higher than the floor.