Price Updates, Recent Developments, Future Events, Community -Breaking
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THORChain, RUNE: Community Updates and Price Information- THORChainRUNE has experienced an exceptional rally. The price of the stock doubled in just one week. This equates to a record 90-day high.
- RUNE started rallying shortly after THORChain declared the reactivation its pools
- THORChain will launch its mainnet for Christmas holiday.
- Nine Realms Capital currently works on the integration (LUNA), into the THORChain Network
Earlier in the year, THORChain was subject to a series of protocol breaches that saw $8 million taken from its reserves. Additionally, RUNE’s native token was significantly affected by the network breach.
RUNE dropped from $21.26 (its all-time peak) in May to $3.2 in July. After many months of inactivity THORChain announced it would reactivate their pool. It marked a pivotal moment for the token.
Pricing Updates
The reactivation of some of THORChain’s pools, including Ethereum, sparked a significant rally that has seen the price of RUNE jump by more than 100% in one week.
RUNE rose from $7.2 to $13.96 in the price rally. The current price of RUNE stands at $12.7068 as of writing. THORChain, which has a market capital of $3.291 million, is ranked 52nd among cryptos.
The 7-day price chart for THORChain(RUNE). Source: Tradingview
RUNE could consolidate, and remain in $12 territory. This would allow for strong movements anytime. RUNE may rally as high as $15.5 if there’s a strong bullish pull before sellers get in. The long-term goal for RUNE is $20
Recent developments
Protocol announced this week it will reopen Ethereum pool along with altcoins and BTC-based ones. The announcement is affecting RUNE’s price.
Within days of THORChain reopening its pools, the network revealed that over 500 layer1 reals were in the THORChain network. The network currently has 1,488 liquidity providers.
THORChain has announced that 30m RUNE tokens have been added to its network reserve on October 26. Tokens were obtained by swapping RUNE (Binance) tokens to RUNE tokens. New tokens can then be used to make payments to nodes or liquidity pools.
Future Events
THORChain will give its customers the most memorable Christmas gift. THORChain is planning a majornet migration before Christmas. The Mainnet launch will allow unlimited staking on the network.
THORChain, which is expanding its presence in decentralized economies, has suggested a partnership with Terra (LUNA). Terra, a blockchain protocol which uses fiat-pegged stablecoins for price stability in global payments systems is called Terra.
Nine Realms Capital currently works on Terra’s integration into the THORChain system. However, THORChain has not given a precise date for Terra’s integration in the THORChain Network.
A teaser video has been released by network developers for the ThorYield App Version 2. Update shares new images from the yield app, but doesn’t set a release date.
To The Flipside
- THORChain currently leads the development section but is still a lesser-known cryptocurrency project.
- Based on His report, 98% of the world’s population have yet to hear about THORChain (RUNE)
Community
THORChain is one of the most involved blockchain projects. THORChain isn’t profit-oriented, unlike most crypto projects, as all fees generated by the protocol go directly to the users.
The core group of users who supported the project during its many losses and upswings are its most loyal members. These users are committed believers and have an optimistic outlook about the project’s future.
Tweet:
At $3.62, $RUNE was trading at $12.35. Up 241%@THORChain has the superior technology, but you must be careful. Make sure you do thorough research. Otherwise, you may miss out on some of the greatest gains. $RUNE https://t.co/BD6naICUIC
— Crypto Psycho (@Crypto_Euphoria) October 24, 2021
After the Ethereum network was reactivated @TheRuneRanger (an ardent believer and supporter of THORChain) wrote:
Reminder to whoever runs the @THORChain account to stay humble Some strong proclamations recently, let’s relax a bitWe’ve just made it back from months in the gutter, let’s redeem ourselves, but in a humble wayJust my two $RUNE
— $RUNE Ranger (@TheRuneRanger) October 25, 2021
@CryptosBatman was evidently pleased with RUNE’s performances.
I have doubled my LP position in THORChain during the past days. And will keep adding more as time goes by. It’s impossible to say no when it comes to more $RUNE $ETH $BNB $USDC. To me, it’s an easy decision. pic.twitter.com/wHkZx9WrW0
— CryptosBatman (@CryptosBatman) October 26, 2021
As the price of THORChain soared, financial analyst Zack Guzmán wrote:
Decentralized exchange @THORChain has surged 70% this week as all chains have been reactivated for swaps and liquidity/volume reach new highs: pic.twitter.com/Uirdx45nh4
— Zack Guzmán (@zGuz) October 26, 2021
Attauseef82 offered this insight as RUNE rose in value:
Is it You? @THORChain $LUNA $QNT #BTC Keep on accumulating $RUNE, you’ll be enchanted by this until 2021 We will continue to see #RAISETHECAPS
— CryptoMonk#REDEMPTIONOFRUNE$RUNE (@tauseef82) October 23, 2021
Why you should care
THORChain is still a promising project, even though it’s in a recovering phase. The network combines a range of novel technologies, including one that helps mitigate “impermanent losses” and a TSS protocol to facilitate cross-chain token swaps seamlessly.
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