THORChain (RUNE) Sees Surge in Social Volume and Investor Sentiment
THORChain (RUNE) has experienced a recent surge in price, driven by a significant increase in social volume. Between August 7 and August 13, RUNE’s social volume rose by 4,300%, drawing attention to the cross-chain liquidity protocol. Investor sentiment around THORChain also grew by 6,100% in this period, leading to a spike in trading volume as more investors entered the market.
Key Points:
– RUNE’s price rose by 48% over the past week, reaching $1.42 on August 13.
– Social volume for RUNE increased by 4,300% between August 7 and August 13.
– Investor sentiment around THORChain grew by 6,100% during the same period.
– In the past 24 hours, RUNE’s social volume and positive sentiment have dropped significantly as the asset dipped below $1.34.
– RUNE’s one-day price volatility has decreased by 30%, while its price remains at a 15-week high despite low whale activity.
According to CoinMarketCap, RUNE is currently trading at $1.39, with a 5.5% increase in the past 24 hours. The asset has also seen a 30% increase in its 24-hour trading volume, reaching $150 million.
In April, THORChain partnered with Unizen to enable users to swap Ethereum (ETH) and AVAX for Bitcoin (BTC) and store assets on different chains.
Hot Take:
THORChain’s recent surge in price and social volume, along with the significant growth in investor sentiment, indicates a growing interest in the cross-chain liquidity protocol. However, the recent decline in social volume and positive sentiment may signal a potential downturn in the short term. It will be important to monitor the market and see how THORChain’s price and sentiment evolve in the coming days.
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