THORChain Ecosystem Experiences Surge in RUNE Token
Recently, there has been a significant surge in the native token, RUNE, indicating a growing interest and confidence in the THORChain ecosystem. This positive momentum is directly linked to ongoing development within the ecosystem, hinting at a sustained upward trajectory in the coin’s performance.
At present, RUNE is trading at $6.09, reflecting a nearly 20% increase in the last 24 hours and an impressive 83% rally over the past seven days.
THORChain Ranks Third in DEX Trade Volume
THORChain has climbed to third place among decentralized exchanges (DEX) in terms of trade volume, solidifying its position as a top native asset settlement protocol. With trading volume currently standing at $1.44 billion, THORChain is inching closer to industry leaders Uniswap and PancakeSwap.
The third-quarter report for 2023 highlights significant growth and blockchain milestones for THORChain, showcasing a remarkable 114.4% surge in total trading volume, amounting to $2.38 billion.
RUNE’s Bullish Rise and Unexpected Rally
The price of RUNE has experienced a bullish rise since late October, surpassing previous resistance levels and gaining momentum. Despite encountering barriers along the way, the coin’s upward trajectory has outpaced expectations and surpassed Curve Finance in trade volume within a week.
Creator Chad Barraford expressed surprise at the rapid progress, emphasizing that things were moving much faster than anticipated.
THORChain’s Strong Position and Market Indicators
The rapid rise of THORChain signals significant progress within the decentralized banking sector. Additionally, market indicators show that RUNE is currently overbought, with RSI around 80 and MACD at 47.26, indicating a bullish market sentiment.
Hot Take: RUNE Token Continues to Surge
The recent surge in RUNE reflects increasing interest and confidence in the THORChain ecosystem. As the coin continues its upward trajectory and surpasses expectations, it solidifies its position as a major player in the cryptocurrency world.
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