Categories: Uncategorized

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.

Source: TradingView

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Annie

According to Dailyhodl

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

43 minutes ago

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

1 hour ago

Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ

Over the years, meme coins have evolved from inside jokes into serious investment opportunities.

2 hours ago

Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong

Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…

3 hours ago

Best Altcoins to Buy for 2025: Qubetics Presale Surge, Solana’s Lightning Speed, and Cardano’s Blockchain Revolution

Discover why Qubetics, Solana, and Cardano are redefining the crypto landscape. Learn about milestones, price…

3 hours ago

Why Qubetics, NEAR Protocol, and IMX Are Dominating Crypto: The Best Altcoins to Join Today for Game-Changing Returns 

Discover why Qubetics, NEAR Protocol, and Immutable X are the best altcoins to join today,…

5 hours ago

This website uses cookies.