🔥 Why is RUNE price increasing today?
RUNE, the cryptocurrency of THORChain, has seen a significant increase in price, reaching $6,979 with a change of 8.9% in the last 24 hours. With a market cap of $2.40B and a 24-hour volume of $484.35M, RUNE is ranked#61in the market. The current trend is bullish, supported by moving averages that indicate positive momentum. Support is found at $6,158 and resistance at $7,051.
Recent news includes the implementation of a token burning system, where 5% of the system's revenue is burned, reducing the circulating supply and potentially increasing the value. Additionally, THORChain is working on major improvements for 2025, such as doubling the supported chains and wallets and reducing block times to 1 second. Market sentiment is mostly positive, with the price up 19.40% over the past 7 days.
