THORchain is ready for the big rally, ‘the sky is the limit’ for RUNE
The Coin Bureau analyst Guy shares the price analysis of RUNE, the native token of the decentralized exchange protocol THORchain.
In one Video Newly, he said that “the sky is the limit” for RUNE as the crypto bull run unfolds.
“Over time, cryptocurrencies began to look like just another branch of the current financial system. You need to deploy KYC everywhere. Almost all of the services you use involve an intermediary and everything you do is tracked.
This trend of surveillance and centralization is gaining momentum, but luckily there are several cryptocurrencies working to keep the industry free. THORchain is probably at the top of this list. And now that it’s revived, it’s time to remind you all of the importance of this crypto project. “
In June, THORchain was hacked multiple times and lost around $ 13 million. According to Guy, the developers took steps in August and September to freeze the log. He now sees that RUNE’s price action reflects positive sentiment.
“RUNE is recovering pretty well and is quickly approaching its all-time high so far. This milestone can be easily reached for three reasons.
First, THORchain has now been revitalized, which means that more cryptocurrencies are being added to various THORchain vaults. Since THORchain nodes have to use 1.5 times the value of RUNE against the value of crypto currencies in THORchain vaults, there is pressure to buy RUNE, as more cryptos are stored in these vaults.
Second, THORchain liquidity providers who deposit cryptocurrencies into THORchain vaults must also pool a corresponding amount of RUNE for these assets, which means that they will also buy more RUNE.
And third, the users of THORchain’s various DEX interfaces have to pay all transaction fees in RUNE, making it the third demand vector for RUNE. “
The last analyst makes a price prediction for RUNE.
“As for the potential price, I will reiterate that the sky is the limit for RUNE given the insane value of what the THORchain protocol has to offer. In my books, the realistic estimate for the remainder of this bull run is between 3 and 4 times the current level. And the strong demand from Chinese dealers for DeFi could bring RUNE much higher. “
RUNE is currently trading at $ 13.74, near its 7-day high but still 34% below the ATH of $ 20.87 hit in May.