THORChain’s RUNE Records 10% in Day’s Trading & 165% over the Past 30 Days
THORChain (RUNE) recently surged 10% in price and is expected to continue with the momentum while it comes out of a bearish market. RUNE has seen its price rebound by more than 165% over the past 4 weeks after having a slow period for several months. Most people believe the only way to trade Bitcoin is by buying and selling the coins directly through exchange platforms such as official bitcoin billionaire.
RUNE is a widely popular cryptocurrency available for trading and investment on many centralized and decentralized. The digital coin is expected to enter an extended bull run and touch at least $11.50. It is currently trading at around $7.89.
RUNE’s Long-Term Prediction
There are both bullish and bearish price predictions for RUNE. The bullish THORChain price prediction ranges from $8.99 to $16.74. Some predictions put its expected price at $20 in the near future. Then, there is a bearish price prediction of $2.95 for this year.
Earlier, it was predicted that RUNE’s price will continue to slide unless investors lay big pressure to force buying. The bearish prediction is limited only to 2022. The long-term perspective is bullish and investors with patience can expect to recover a significant percentage of their lost profits in the future.
In order for RUNE to enter a bullish run in the long term, it must break various past psychological resistances.
Price Prediction from 2022 to 2026
If RUNE’s bullish trend continues, it is expected to touch a price of $16.74 within this year. Fast price growth is expected during the early half of the year until the cryptocurrency reaches $8.99. Its price is then expected to rise slowly without any major fluctuations. Given the developments and partnerships in the pipeline, the coin’s price is expected to reach $20 in the near future.
If the THORChain cryptocurrency holds the expected support level, buyers are expected to get all the time and stability required to take its price to $50 in 2023. The next 5-year prediction for the coin is set at $200. It is expected that achieving this level may be simple for RUNE. This is because additional short-term, medium, and long-term price targets will become available to buy/sell orders. All this means that this crypto is on its way to achieving its all-time high within the next 4 years.
RUNE’S Fundamentals Favor Bullish Trend
While there is a mixed outlook for the RUNE market this year, the overall long-term trend is bullish. The mixed outlook originates from the fact that the crypto market typically gets impacted by macroeconomic and geopolitical factors. The crypto market’s combined capitalization has fallen by almost 25% year-to-date. THORChain has continued to weather the trend, having recorded over 9% year-to-date growth.
It is interesting that most of these gains were experienced during the past 30 days. It recorded over 165% growth because of the hype surrounding a series of feature updates.
THORChain’s Recent Feature Updates & Developments
Some of the aforementioned feature updates that triggered massive growth for THORChain’s digital currency included:
- The blockchain released Synthetic Assets. This feature allows users to trade tokens supported by 50% RUNE and the rest their favored assets. Traders can redeem the synthetic assets for the real assets at a ratio of 1 to 1.
- According to the blockchain’s development team, they are planning to launch the Thorfinance protocol. This protocol integrates DeFi tools into the core blockchain.
- The team also plans to develop THOR.D, a native stablecoin. It will make use of Terra’s strategy around its native coin LUNA and stablecoin UST.
All these developments and the ones planned in the future are expected to give RUNE all the tailwinds it will need to grow in price.
Bitcoin & Altcoins Stagnate While RUNE Surges 10%
All the major cryptos in the top 10 list couldn’t deliver the results recently. Most are following sideways action. RUNE ended up being the largest gainer within the past 24 hours, rising by over 10%. It grew by over 40% over the past week.
JUNO recorded an 8% loss, the most for any major digital currency. ANC was a close second with a price fall of 6% within the past 24 hours. ANC’s weekly price value drop was at a staggering 47%.
THORChain is an independent blockchain developed on the Cosmos SDK that works as a cross-chain decentralized exchange. It relies on the automated market maker (AMM) model with RUNE acting as the base swap pair. The project was created in 2018 with the goal of overcoming the challenges of using centralized exchanges for transferring crypto assets between different chains.