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- 1 The RUNE token is displaying bullish qualities and can advance further.
- 2 It is highlighting a decline of 10.14% in the last 24 hours, trading at $5.923.
THORChain is a platform that lets users swap different coins on different blockchains without using any intermediaries or synthetic tokens. It has a special system that helps protect the liquidity providers from losing money when the prices of the coins change. It does this by charging a fee that depends on how much the price changes during the swap. This fee helps keep the liquidity balanced.
THORChain uses a bunch of new technologies, such as one-way state pegs, a state machine, the Bifröst Signer Module, and a TSS protocol, to make the cross-chain swaps possible and secure.
THORChain is not designed to make profits for itself. All the fees that the platform collects go to the people who run the network and provide the liquidity. The team behind THORChain does not get any special rewards. They only benefit from holding RUNE, the native token of the platform.
It also has some other features, such as Streaming Swaps and Savers. Streaming Swaps lets users split large swaps into smaller ones over time, which lowers the fees they pay. Savers let users deposit coins like BTC and earn income without risking losing money.
THORChain also has a Lending protocol where users can borrow money using their BTC or ETH as collateral. They can choose the currency they want to receive, such as USD. The loans have no risk of being liquidated, no interest, and no expiry date.
THORChain is based on the Cosmos SDK and uses the Tendermint consensus mechanism. This makes the network secure from attacks by using a new kind of PoS system that involves many validators who agree on the blocks of transactions.
This platform’s smart contracts have been checked by several security companies, including Certik, who did not find any problems.
RUNE Asset is Exhibiting Bullish Strength
The RUNE crypto has shown a sign of a comeback as its price recovered and initiated a rally upwards from a key level of around $1.50 on the charts.This crypto is highlighting a decline of 10.14% in the last 24 hours, trading at $5.923.
It seems like the RUNE crypto is ready for a massive surge, as it builds up strength to blast through the barrier and skyrocket to new levels from the current demand zone.
The RUNE asset is displaying bullish qualities and can advance further. It has presented good performance in the last week, month, and three months, by 47.06%, and 305.54%, which implies a steady upward movement.
However, if the demand for the RUNE Token remains at its peak, the crypto price could surge from the current level. The next goal for the RUNE price is to reach $8.
The RUNE asset is exhibiting bullish strength and rising capacity as it holds above major EMAs.However, if the RUNE crypto price fails to stay above the $5 level, it could decline further.
Summary
The RUNE asset is displaying bullish qualities and can advance further. It has presented good performance in the last week, month, and three months, by 47.06%, and 305.54%, implying a steady upward movement.
However, if the demand for the RUNE Token remains at its peak, the crypto price could surge from the current level. The next goal for the RUNE price is to reach $8.
Technical Levels
Support Levels: $5
Resistance Levels: $8
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
