- The price of THORChain (RUNE) has jumped to 40% in a week.
- RUNE tapped its ATH at $20.87 in mid-May.
- During this bullish rally in the crypto market, RUNE would surge more in price.
The crypto industry has evolved to be the future of the financial sector within a decade. The adoption and popularity which crypto-assets have gained are huge while the industry faced regulations. In terms of investments, investors are preferring digital-assets rather than gold. Investors have acknowledged the merits of cryptocurrencies and their value.
Significantly, many cryptocurrencies perform well generating more gains to their users. Apart from the mainstream cryptocurrencies, many altcoins have the potential to reach heights and offer a better return. Moreover, the ecosystem of these platforms delivers more effort in implementing and integrating new features and updates for users. One such network is THORChain (RUNE) which has merely surged over 40% in a week.
THORChain is an independent blockchain built with the Cosmos SDK that will function as a cross-chain decentralized exchange (DEX). It employs an automated market maker (AMM) model similar to the early iterations of Bancor (BNT) or Uniswap, with THORChain’s native token (RUNE) serving as the base swap pair.
Current Market Status
At the time of writing, the trading price of THORChain (RUNE) is $10.76 with a trading volume of $306,238,617 in the last 24-hours. According to Coingecko, the price value of RUNE has soared to 40% in a week and 31% up in the last 24-hours. Moreover, it holds the 60th rank with a current circulating supply of 225,410,215 RUNE coins.
The chart depicts the bullish pattern for the past week. The price value of RUNE has jumped from $7.64 to $11.18 within a week. Besides, RUNE can be traded on top exchanges such as Binance, Mandala exchange, CoinTiger, FTX, and kuCoin.
However, similar to several cryptocurrencies, RUNE also began to grow phenomenally. During the bullish trend in mid-May, RUNE reached its ATH at $20.87 shooting up its potential in the market. Somehow following the crackdown in China and the regulatory process, RUNE began to fall but now it has entered its recovery phase.
The current scenario indicates a bullish rally for the crypto market, making this an ideal time RUNE has initiated to recover. So this could be a sweet spot for RUNE holders and it has the potential to achieve a new ATH. If the green trendline continues then RUNE would show some promising results to its users with more updates.
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