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THORchain Price Prediction: RUNE Gearing Up for 60% Boom – Find Out Where Experts Are Investing Now

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ThorChain’s native token, RUNE, has experienced a significant surge, achieving a remarkable 60% increase in value over the past week. Impressively, it continues to maintain its upward trajectory within the cryptocurrency market. This has seen it secure an additional gain of more than 5% within a day. Currently, it holds the second position in the daily gainers list.

With this momentum, market watchers say the token may be gearing up for another 60% boom.

THORChain Introduces Innovative Lending Model: Revolutionizing Cross-Chain Finance

THORChain, a decentralized cross-chain liquidity protocol, has unveiled a groundbreaking lending model. The feature promises to reshape the landscape of decentralized finance (DeFi). Known for its seamless asset swaps across major blockchain networks, THORChain has quickly established itself as a pivotal player.

The New Lending Model: Redefining Borrowing and Lending

THORChain’s lending model introduces a novel approach, departing from the conventional over-collateralization model. Borrowers deposit collateral and acquire debt at a market-determined collateralization ratio.

Unique features include zero expiry, such that the loans have no fixed expiration date, offering flexibility. In that borrowers face no liquidity constraints, zero liquidity requirement ensures a smooth experience. There is also zero interest, to mean the model eliminates interest, simplifying borrowing. Lastly, there is TOR stablecoin, where debt is denominated in TOR, a stablecoin pegged to the collateral’s USD value.

The model benefits borrowers and THORChain’s ecosystem by bringing capital efficiency. This means it enhances liquidity pool capital efficiency, increasing income and yield. Another benefit is increased trading volume, which stimulates additional trading volume, fostering liquidity. There is also scalability, which encourages more bonded assets, promoting growth. The appealing capital sink is another benefit, providing an attractive capital deployment avenue.

RUNE’s Role and Market Impact

$RUNE, THORChain’s native token, is central to the lending model, influenced by lending and borrowing activities. The introduction of the lending model significantly affects THORChain’s $RUNE token. Upon activation, the lending model sets off a deflationary trend for $RUNE. Two fundamental mechanisms drive this outcome. First, a portion of $RUNE is perpetually burned through slip fees generated by derived assets. This leads to a continuous reduction in the overall supply of $RUNE tokens.

Additionally, loans that remain perma-locked and go unredeemed continue accumulating over time. This further intensifies the deflationary pressure on the $RUNE token. The lending model’s integration within the THORChain ecosystem initiates a distinct deflationary trajectory for the $RUNE token, altering its dynamics within the network.

THORChain RUNE Price Analysis

The RUNE/USD daily price chart, reveals the emergence of a bullish trend. There is potential for a breakout from the descending channel, hinting at an upcoming reversal. The most recent daily candle is forming above the upper band of the track; however, confirmation lies in its closing. A close above the upper band or at the $1.30000 level could solidify a bullish reversal.

Supporting this trend are technical indicators. The Awesome Oscillator (AO) histograms are in the positive territory, displaying green bars that signal a buying trend. The Relative Strength Index (RSI) has also surged above 70, entering the overbought zone. This indicates significant bullish pressure.

Notably, the lower EMA 50 is on an upward trajectory and nearing the higher EMA 100. A successful breach of the higher EMA would further reinforce the bullish reversal signal.

THORChain price
TradingView: RUNE/USD 1-day chart

Prices have surged 60% over the last eight days and are positioned for another potential 60% increase in the upcoming week. On the positive side, the initial hurdle rests at the $1.49315 level, followed by the subsequent resistance at $1.73497. This would lead toward the target surpassing $2.00000. Conversely, the upper band of the descending channel initially provides downward support. Beyond that, the $1.03439 support, aligned with the 50 EMA, is expected to safeguard against further declines.

The overall assessment suggests that sustained buying pressure could lead to gains of over 60%. This could potentially propel THORChain price to the $2.00000 mark.

While THORChain is giving solid fundamentals and technical outlook, there is another coin exhibiting similar growth potential, XRP20.

Alternative to RUNE

XRP20, despite its name similarity to Ripple’s token, XRP, is an entirely separate venture. It has no ties to Ripple and stands as a unique and independent project that is ambitiously striving to become the next big thing in the world of cryptocurrencies.

XRP20 is determined to emulate the spectacular growth witnessed by Ripple during its prime days. This is achieved through its attractive proposition of high yields and utility for investors. While it resembles Ripple’s XRP, XRP20 has gone the extra mile with significant improvements. These enhancements promise substantial returns and a stable growth trajectory.

Unique Token Allocation

Setting itself apart, XRP20 employs a distinct token allocation strategy. With a total supply of 100 billion tokens, only 40% are available for presale, while another 40% are dedicated to rewarding stakers and fostering a solid and stable community. Moreover, 10% of the tokens are allocated to decentralized exchange liquidity pools, and a final 10% is earmarked for burning. This reduces the token supply and potentially enhances its value over time.

https://twitter.com/XRP20AMA/status/1689048194473164801

Token Burning for Future Value

XRP20 is committed to token burning, with 0.1% of tokens destined for elimination. This proactive measure aligns with industry best practices. It is aimed at ensuring the token’s long-term relevance and value.

Realizing Future Potential

While XRP20’s initial focus centers on staking, its utility extends to token holders earning income. This is through ownership and participating in a transactional mechanism that reduces token supply over time. As XRP20 expands its real-world applications, it aims to establish a lasting presence in the dynamic cryptocurrency landscape.

Visit XRP20 here

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