ThorChain (RUNE) has had a price surge lately amid key developments in its ecosystem. The cross-chain liquidity protocol recently announced strategic partnerships with Kujira and Noble, expanding its network capabilities.
Moreover, ThorChain’s affiliate program has demonstrated success, with Trust Wallet leading in swap volume performance. Per data from CoinGecko at press time, RUNE trades at $3.69, showing a 13.17% and a 16.57% rise over the past day and week.
Strategic Partnerships Driving Momentum
One of the primary drivers behind RUNE’s price surge is the strategic partnership between ThorChain and Kujira. Rayyyk, a figure in crypto, noted that this collaboration, which was officially announced last week, has led to excitement within both communities.
The partnership between @THORChain and @TeamKujira was officially announced last week and has caused a wave of excitement across both communities.THORChain X Kujira = $RUJI What else has happened? Follow along!Top Affiliates by Swap Volume@TrustWallet – $56M … pic.twitter.com/COBQwZaCIs
— Rayyyk (@rykcrypt) August 12, 2024
Furthermore, Rayyyk noted that it has led to the creation of a new token, RUJI. This development has bolstered community sentiment and positioned ThorChain as a critical player in the decentralized finance space.
Moreover, ThorChain’s integration with Noble, a stablecoin issuance partner, is expected to boost the platform’s capabilities further. Noble’s involvement will bring reliable and UX-optimized stablecoins to ThorChain’s AppLayer, providing users with seamless access to stable assets.
This integration, coupled with ThorChain’s upcoming upgrade to the IBC protocol, is set to expand the platform’s interoperability, attracting more users and increasing liquidity.
Next Meme Coin to Explode? Look No Further If You Are Looking for the Next PEPE or POPCAT
Meet PandaWorld, the new meme coin currently selling at discounted presale prices! The project was inspired by the adventures of six panda siblings, utilizing their unique abilities to bring together gaming, staking, and other features.
Show more +Show less – Rising Swap Volume and Affiliate Success
Another factor contributing to RUNE’s price surge is the consistent swap volume on the ThorChain platform. Rayyyk noted that despite a flat trend, swap volume has hovered around $700 million since May, demonstrating sustained user engagement and confidence in the platform.
Notably, top affiliates like TrustWallet, THORSwap, and ShapeShift have driven substantial swap volumes, with TrustWallet earning nearly $200,000 in affiliate fees within a week. This success potrays ThorChain’s growing ecosystem and its ability to generate revenue through affiliate partnerships.
Additionally, the stability of ThorChain’s liquidity fees at $400,000 has further solidified its position in the DeFi market. With the potential for a fee increase to 0.15%, there is anticipation of higher fees collected, which could lead to increased profitability for liquidity providers and further boost RUNE’s value.
Read also: Toncoin Announces USDT Integration is Now ‘Easier’ – Will TON Price Hit $10?
Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?Get all our future calls by joining our FREE Telegram group.
We recommend eToro 74% of retail CFD accounts lose money. Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
The post Why Is ThorChain (RUNE) Price Up? appeared first on CaptainAltcoin.
