Thorchain is a liquidity protocol allowing users to send cryptocurrency assets across networks without losing control. Users of Thorchain can swap the assets without relying on any order book and in a permissionless setting. Thorchain is a settlement layer facilitating swaps between assets, including Bitcoin, Ethereum, Doge, etc. The TVL of Thorchain is $199 Million, which has remained stagnant for quite some time. The total liquidity on the network is around $107.7 Million, with the total pool earning about $17.3 Million, as per the Thorchain website. There are 88 active validators on the Thorchain network with 11.41 Million of total swap count. The total number of transactions on the network is seeing a slight surge with a decline in overall address growth. The median APY of RUNE staking is around 5.2% which has declined from 14% in the past few months.
RUNE has a market cap of $379 Million and is ranked 92nd in the crypto-verse. The total volume of Thorchain swap is around $6.72 Billion. Thorchain has been attracting attention from various crypto enthusiasts and can see a new high in the future.
Will RUNE Cross the $5 Mark Soon?
Thorchain has been moving in a downward trend in the past few weeks. On the daily chart, it is looking to recover for a new high.RUNE is trading near the value of $1.15 with a slight gain in the intraday session. The upside trend of RUNE can see a halt near the value of $1.25.Meanwhile, the asset price support can be observed near the value of $1. RUNE price is trading below the 50 and 100 Exponential Moving Averages. There can be a negative crossover in the future, pushing the price down.
The RSI of RUNE is near 40, suggesting its presence in the neutral zone. There is no slope in it, suggesting a consolidated momentum in price.
Summary
RUNE median APY has dropped in the past few months, and its TVL has remained stagnant. Thorchain price is currently seeing a consolidated trend and can see a new high.
Technical Levels
Major Support:$1
Major Resistance:$1.25
