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RUNE Price Up 1.6% to $4.39 – Where to Buy ThorChain

RUNE ThorChain
RUNE ThorChain

RUNE is among the altcoins showing signs of recovery since the pullback that happened for the better part of this week. Despite the pullbacks, RUNE investors who ventured into the market early are still in a profitable zone, given that RUNE has increased by more than 700% in a period of one year.

Thorchain is trading at $4.39 at the time of writing on major exchanges after gaining around 1.6%.

RUNE Price Analysis

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The price of Thorchain has been on a downtrend this week because of several factors. These factors include lack of market support and the recent hack on the platform’s liquidity pools.

However, Thorchain shows promise of a price recovery, given that it has made slight gains in the past 24 hours. If the current upswing continues, RUNE will head to break past $5. However, that will be heavily dependent on market support.

If Thorchain retreats towards a downtrend, we might see the token’s price retreating to around $4. However, this point will be gearing up for bulls, given that investors will start stocking up, with hopes that prices will rise yet again.

Looking at RUNE’s price movement this week, the largest downtrend was reported on July 16, after RUNE’s liquidity pool was hacked. During the hack, 2500 ethereum tokens worth around $4.8 million was stolen from the liquidity pools. The development led to an over 15% reduction in RUNE’s prices.

However, RUNE recovered slightly after the hack, given that the platform has a Treasury that comes in handy in such cases. The ThorChain Treasury will be used to repay the ETH liquidity providers who made losses during the hack. According to the platform, around $5 million will be taken out of Treasury to compensate these users. This news led to a slight recovery in RUNE.

Where to Buy RUNE

Those who want to buy RUNE can do so from the following exchanges:

  • eToro

One of the exchanges that support Thorchain is eToro. eToro is a reputable crypto exchange that offers a wide range of features such as copy trading. Copy-trading allows new users to copy the trading strategies of seasoned traders, thus increasing their chances of making profits.

  • Binance

The other crypto exchange that supports Thorchain is Binance. Binance is a reliable exchange because it supports a wide range of cryptocurrencies and trading pairs, making it easy for users to settle trades.

Looking to buy or trade Crypto now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provider

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