THORChain's Thunderous Climb: Can RUNE Double Up Its Value Soon

THORChain’s Thunderous Climb: Can RUNE Double Up Its Value Soon

Updated: 08 September 2023

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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At 5:45 a.m. EST today, September 7, THORChain (RUNE) is trading at $1.6, indicating a 5% gain within 24 hours. Data from Coingecko shows that RUNE lost 10% of its price during the past year. However, it has maintained steady gains at significant timeframes since 2023.

In the past 30 days, the coin increased by 67%. It gained by 2% in the last seven days, projecting an upward trajectory in the coming days to weeks. Also, RUNE’s trading volume is at $52.9 million, showing an increase of 56% in the last 24 hours.

Considering the impact of increased trading volume, the coin is likely to rally further. Also, given the exciting events within the THORChain ecosystem, the crypto could gain massive popularity, adoption, utility, and a consequential boost in its price.

Find these exciting events below.

THORChain’s New Streaming Swap Feature Could Contribute to RUNE’s Price Growth

Introducing the new “Streaming Swap” feature in THORChain’s lending ecosystem has unlocked significant milestones. There are optimistic speculations about its potential to fuel RUNE’s price in the long run.

In the news shared on the X platform by House of Chimera, the monthly volume growth on THORChain broke above $1 million in August and is attributable to the “Streaming Swaps” feature.

Monthly volume growth on @THORChain: A Dynamic Uptrend

🔹In August, @THORChain witnessed a remarkable surge in its monthly volume, surpassing 1 billion USD!
🔸A key driver behind this growth was the implementation of streaming swaps – increased strategic options for the user. pic.twitter.com/LIuoDMUaBx

— House of Chimera (@HouseofChimera) September 2, 2023

According to the tweet, this feature increased “strategic options” for THORChain users, allowing them to break down single swaps into various sub-swaps executed with time. Also, it aimed at reducing price slippage (the difference between a trade’s anticipated price and the actual execution price).

Adding Streaming Swaps improves the functionality and utility of the THORChain protocol. This can attract more users and liquidity to the platform, driving demand for the RUNE token, as it is a fundamental component of the THORChain ecosystem.

With its primary purpose of reducing slippage, THORChain could become more attractive for traders and liquidity providers. Lower slippage can lead to increased trading activity and, consequently, higher demand for RUNE.

RUNE Stands Bullish in Short and Long Term – Can It Double Its Market Value?

RUNE has formed three consecutive candle sticks on the chart above, which signifies increased buying activities in the past three days. RUNE’s RSI at 58.88 is moving upward, confirming the increased buying pressure in the market. This also suggests upcoming price rallies to the overbought market zone (above 70).

Notably, RUNE is sitting above the critical moving averages (Simple Moving Average, SMA), indicating a bullish market trend in the short and long term. This supports the RSI signal and green candles on the chart.

Also, the aligned 50-day and 200-day SMA shows an upcoming golden cross for the coin in the coming days. As such, RUNE is likely to maintain its uptrend, targeting the $1.8 level and beyond.

On the other hand, the coin’s Moving Average Convergence Divergence (MACD) is bearish and has red faded histogram bars. This weakening bearish momentum suggests a potential shift to a bullish momentum before the weekends.

Bitcoin BSC Good Alternative to RUNE – Here’s Why

Bitcoin BSC is a stake-to-earn crypto project, allowing users to stake their $BTCBSC for daily rewards. Bitcoin BSC is an excellent alternative to RUNE because it provides a passive income for crypto traders and investors to make money for staking their holdings quickly.

Also, its revolutionary reward model has attracted many investors to the project, showing its potential for significant popularity and price surge in the future.

BTCBSC, being on the Binance Smart Chain, may have access to Binance’s large user base and liquidity, making it easier to buy and sell than less liquid assets.

The project’s high APY staking could also be appealing to those who want to minimize risk.

$BTCBSC Presale Success So Far – More Milestones to Reach Soon

$BTCBSC presale is live and selling for $0.99. So far, it has reached $129,900 out of the $3.96 million soft cap target. According to the project’s whitepaper, $BTCBSC will undergo two presale stages where 65% of the total token supply will sell out, and another 35% will follow suit.

The project is expected to hit its hard cap target of $6.125 million by the next stage. Since Bitcoin BSC is showcasing its potential as a high-growth and promising crypto project to consider, those interested can be part of this journey by swapping their BNB, ETH, or USDT for $BTCBSC.