$RUNE
THORChain's native token, RUNE, has gained significant traction in the crypto world, ranking at #50 with a market capitalization of $1.76 billion. Priced at $5.21 per token, it has shown steady performance, with a 3.85% increase in the past 24 hours. However, the price is down significantly from its all-time high of $21.26 in May 2021, offering a potentially undervalued asset for traders looking to enter the market.
Key Metrics
Market Cap: $1.76 billion (+3.86%)
24h Volume: $178.79 million (+26.18%)
Fully Diluted Valuation (FDV): $2.16 billion
Total Value Locked (TVL): $255.52 million
Market Cap/TVL Ratio: 6.88
RUNEâs Vol/Mkt Cap ratio of 10.17% indicates a healthy trading volume relative to its market cap, suggesting strong market activity.
Price Performance
Current Price: $5.21
24h Low/High: $4.88 â $5.23
All-Time High: $21.26 (May 2021)
All-Time Low: $0.007939 (Sept 2019)
The price of RUNE has experienced a dramatic increase of over 65,500% since its all-time low, making it one of the more rewarding assets for early investors. While it's trading at a significant discount from its all-time high, its recent performance is showing signs of recovery, creating potential opportunities for traders.
Key Investment Considerations
1. Recovery Potential
With a 75.5% drop from its all-time high, RUNE represents a potentially undervalued asset for investors who believe in the long-term growth of THORChain. Given the overall increase in crypto market activity and positive sentiment around decentralized finance (DeFi), $RUNE may have room for upward momentum.
2. Strong Trading Volume
The 24-hour volume of $178.79 million, up by 26.18%, reflects significant market interest and liquidity, which is essential for traders looking for short-term gains. A higher trading volume typically translates into price movement, providing more opportunities for both day traders and swing traders to capitalize on volatility.
3. TVL and Market Cap Relationship
RUNEâs Total Value Locked (TVL) stands at $255.52 million, showing that THORChain is actively being used to lock in assets, driving utility for the RUNE token. The Market Cap/TVL ratio of 6.88 shows that RUNE is valued more than the assets locked in the protocol. While this may suggest the token is slightly overvalued in terms of TVL, it also reflects high expectations of future growth and network utilization.
4. Long-term Value
Despite its market volatility, THORChain's ability to operate as a decentralized liquidity protocol offers long-term value. RUNE acts as the backbone of this ecosystem, with its supply dynamicsâ 414.20 million total supply and 337.63 million circulating supplyâindicating limited inflation risk, another factor favoring long-term investors.
Why Traders Should Watch $RUNE
For traders, RUNE's recent performance and high trading volume present numerous opportunities. Its daily movements suggest volatility, which can be capitalized on for short-term gains. However, its potential for long-term growth remains intact, making it an attractive asset for both short-term traders and those looking to hold for future value appreciation.
Technical Insights:
Price action over the last 24 hours (Low: $4.88, High: $5.23) shows that RUNE is currently stabilizing, providing a potentially strong entry point for those looking to ride the next wave of price increases.
The current market environment has seen DeFi protocols like THORChain gaining more attention, and with increasing liquidity, RUNE could experience price movements in response to overall market trends.
Conclusion
RUNEâs current market metrics suggest itâs an asset worth considering for traders who are looking to capitalize on both short-term volatility and long-term potential. With solid fundamentals in place, coupled with growing adoption and use of the THORChain protocol, the future of RUNE looks promising.
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