THORChain’s native cryptocurrency RUNE concluded a retest of its June lows and even set a new 2022 low. Its recovery attempts may provide one of the best opportunities especially for the next major bull run and here’s why. Here’s AMBCrypto’s price prediction for RUNE for 2022-2023 THORChain noted in one of its latest updates that […]
Many crypto platforms have been called out for claiming to be immutable and censorship resistance. Yet every once in a while, something happens in the market and the same platforms act in a manner not-consistent with immutability. If THORChain’s claim happens to be true, then it puts the blockchain at an advantage especially when mass migration toTHORChain’s RUNE would enjoy healthy long term growth if censorship pushes people to favor DeFi.
Furthermore, RUNE traded at $1.53 as of 18 October, a 12% uptick after bouncing from its $1.368 new 2022 low.RUNE’s latest bounce occurred within the same support line where it bounced from in June. This meant there was a considerable chance that it might achieve a sizable relief rally. The previous bounce saw the token deliver a 70% rally within the first seven days after bottoming out and over 100% to its current local top.RUNE’s volume kicked off the week on a healthy note.
RUNE’s market cap was already up by roughly $33.4 million in the last two days. That kind of liquidity, on usual terms, doesn’t flow back into a project of THORChain’s caliber unless investor expectations may have shifted.The market cap was not necessarily a strong confirmation that the bulls were back. But, it did confirm strong accumulation at the recent bottom. THORChain topped off the above observations with a notable uptick in development activity.
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