Post By: CryptosHeadlines.com

In the past week, most top cryptocurrencies have been trading sideways, experiencing a downtrend. However, THORChain stands out as a top performer, with a notable 5% increase in the last day and an impressive 34% gain over the week.The RUNE token in THORChain has experienced a remarkable rise. It began at around $0.80 on June 14 and has now reached a high of $2.90, marking an impressive 270% increase.
This surge was triggered by a reversal from a descending triangle pattern that became significant around August 15. Despite some fluctuations until October 20th, the token managed to gain an additional 80%.
The remarkable rise in the value of THORChain’s RUNE token demonstrates its strength. This increase is not only due to its impressive price momentum but also because of a noticeable surge in trading activity. RUNE has come a long way from its lowest point this year, making it one of the best-performing cryptocurrencies globally.

RUNE market cap currently at $980 million. Chart: TradingView.com
THORChain: Anticipated Breakout and $10 Price Target
The increased trading activity not only confirms the upward trend but also shows growing confidence among buyers, highlighting a shared belief in driving the coin to higher levels.
A well-known cryptocurrency analyst named Captain Faibik, who has a significant following, recently made an interesting observation. They suggested that a price breakout for RUNE might be on the horizon, indicating the potential for significant movement in the near future.
According to this analyst’s breakout scenario, a substantial bullish upswing could occur if the RUNE price breaks through its current support level. This could lead THORChain to a significant milestone, with a target of reaching $10 in the near term.
RUNE: Overcoming Resistance Toward a $3 Billion Milestone
Reaching the $3 billion mark in on-chain trade volume on major decentralized exchanges (DEXs) is a significant milestone that’s driving the price higher, along with various other factors.
This remarkable growth prompts questions about whether the rally can continue. Can the price surpass $3 and continue to increase, or is it reaching its limit?
In the current month, the network handled more than $3 billion in on-chain transactions, setting new records. This is important because the network had a considerable volume of $2.3 billion in just the third quarter.
During this time, it collected a total of $3.38 million in fees. This suggests that THORChain is gaining more popularity and attracting a growing number of users.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#CryptoMarket #Bitcoin #CryptoNews #thorchain #RUNE/USDT

Thorchain has introduced a new lending feature that allows you to borrow loans:

- At 0% interest

- Without any liquidation risk

- Or expiry date

It aims to be the top liquidity settlement layer in crypto, similar to Uniswap and Aave combined.

More Swaps = More Liquidity = More Bonded $RUNE

The collateral ratio will be around 2x at launch, but Thorchain plans to eventually increase it to up to 400%.

This means that you can borrow $15K USDC or any available asset against 1 #BTC (assuming 1$BTC = $30K).

When you borrow, 15k worth of RUNE will be burned.

This will put deflationary pressure on RUNE. However, when the loan is closed, let's say if the BTC price reaches $60K, then $35K worth of RUNE will be minted.

It could only be a problem if the price of RUNE remains the same or drops from the loan opening day.

Worst-case scenario, is when:

Totals loans closed > Loans opened

The price of RUNE will drop heavily, lending will be stopped after the max cap of 500M is reached, and reserves will be used to redeem loans.

In case of a situation like $LUNA where minting is happening non-stop, Thorchain will be halted and brought to a stop.

Overall, this looks very interesting and RUNE has got the flywheel going for it.

However, there are some risks to consider: The chances of a project like this doing very well in bear market conditions are low.

This could be a steal tho as the project is still undervalued and could become an alpha during the bull market.

Please also consider the negative feedback loops before investing anything into it.

#dyor #NFA #Sei #thorchain