THORChain | RUNE to the Moon?
Updated
There has been a significant rise in the activities across the THORChain ecosystem and the platform’s lending cap change has resulted in a massive influx of funds into the network.we are 70% up in 7 days and marketcap passed 3 billion dollar
the network records over $1 million per hour in onboarded collateral plus there’s been a record increase in token burns. As of the time of writing, the network has burned over 50 million RUNE. The reduction in circulating supply is gradually influencing the price of the asset.
THORChain is a decentralized liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks including Bitcoin and Ethereum without losing full custody of their assets in the process., users can simply swap one asset for another in a permissionless setting, without needing to rely on order books to source liquidity. Instead, market prices are maintained through the ratio of assets in a pool (see automated market maker).
now lemme explain whats Rune for new crypto traders, The native utility token of the THORChain platform is RUNE. This is used as the base currency in the THORChain ecosystem and is also used for platform governance and security as part of THORChain's Sybil resistance mechanisms since THORChain nodes must commit a minimum of 300k RUNE to participate in its rotating consensus process.
Rune bulls broke 7.5$ and we even hit 10$ and then we had pullback to 9.5$, the Volume is good and Rsi like most indicators are bullish, if btc do correction we back to 7.5$ then start pumping back to higher levels and if bulls hold the line we will go to 11 and 11.5$
the network records over $1 million per hour in onboarded collateral plus there’s been a record increase in token burns. As of the time of writing, the network has burned over 50 million RUNE. The reduction in circulating supply is gradually influencing the price of the asset.
THORChain is a decentralized liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks including Bitcoin and Ethereum without losing full custody of their assets in the process., users can simply swap one asset for another in a permissionless setting, without needing to rely on order books to source liquidity. Instead, market prices are maintained through the ratio of assets in a pool (see automated market maker).
now lemme explain whats Rune for new crypto traders, The native utility token of the THORChain platform is RUNE. This is used as the base currency in the THORChain ecosystem and is also used for platform governance and security as part of THORChain's Sybil resistance mechanisms since THORChain nodes must commit a minimum of 300k RUNE to participate in its rotating consensus process.
Rune bulls broke 7.5$ and we even hit 10$ and then we had pullback to 9.5$, the Volume is good and Rsi like most indicators are bullish, if btc do correction we back to 7.5$ then start pumping back to higher levels and if bulls hold the line we will go to 11 and 11.5$
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