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- THORchain’s native cryptocurrency, RUNE, has seen a significant surge in its price, defying the broader market slump.
- The price rally is expected to continue if the RUNE price sustains above $6.30.
- THORchain’s CEO has emphasized the importance of providing a secure and yielding environment for assets to enhance Total Value Locked (TVL).
THORchain (RUNE) price jumps 10% defying broader market slump, with future projections indicating a bullish momentum if the price sustains above $6.30.
RUNE Price Rally
RUNE, the native cryptocurrency of the decentralized liquidity protocol THORChain, surged by 10% in the last 24 hours, moving against the broader market tide. As of press time, the THORchain (RUNE) price is trading at $5.92 with a market cap of just under $2 billion. Also, the daily trading volumes for RUNE have surged by a staggering 100% all the way to over $600 million.
Will the Price Rally Continue?
Over the last week, the THORchain (RUNE) price has surged by 21% despite the crypto market volatility. If the market propels the RUNE price above $6.130, bullish momentum may persist, targeting the upper resistance level of $7.335. Sustaining this level could pave the way for testing the higher high of $8.725.
Future Projections By CEO
In a thread, THORChain’s CEO emphasized the importance of providing a secure and yielding environment for assets to enhance Total Value Locked (TVL). Addressing user experience (UX) issues related to liquidity provision was also highlighted as a priority. Furthermore, ensuring the protection of TVL economically (via $bond), functionally (through node tools), and procedurally (via testing/Stagenet/THORSec) was underscored.
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Conclusion
THORchain’s RUNE has shown a promising price rally, defying the broader market slump. The future projections by the CEO indicate a focus on enhancing TVL and addressing UX issues, which could further boost the price of RUNE. However, the sustainability of this bullish momentum hinges on whether the RUNE price can sustain above $6.30.
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