THORChain Price Surges 15% with Integration of Edge Wallet
The price of THORChain (RUNE) has increased by 15% in the last 24 hours, reaching $6.40. This surge in price is mainly attributed to the recent integration of RUNE with Edge, a self-custody wallet. The partnership aims to simplify participation in the decentralized THORChain protocols, with Edge Wallet providing privacy and security features.
Native $RUNE is now supported in Edge Wallet for your self-custodied enjoyment@EdgeWallet already supports functionality like Swaps and Savers. Try it today 👇https://t.co/uv7xA5AkeF https://t.co/HHNvCf70GS
— THORChain (@THORChain) November 28, 2023
The integration will support the new Layer-1 blockchain of the THORChain network, enhancing the decentralized finance (DeFi) capabilities of the platform. According to an official blog by Edge, the decision to integrate RUNE was influenced by THORChain’s commitment to improvement and innovation, including features like Savers Vaults, Streaming Swaps, and a new borrowing and lending system.
THORChain Price Outlook: Potential Breakout to the North
Technical indicators suggest a potential breakout for THORChain price in a bullish direction. The Relative Strength Index (RSI) is on an upward trajectory, indicating rising momentum. Breaking above the signal line could serve as a buy signal, leading to a further increase in price.
Alternatively, if selling pressure increases, the price may drop below the lower trendline of the symmetric triangle. A break below the $5.221 support level would invalidate the bullish thesis and could result in a test of the 25-day and 50-day Exponential Moving Averages (EMAs) at $4.977 and $4.077, respectively.
Promising Alternative: The Meme Kombat Ecosystem
Meme Kombat, a stake-to-earn project, is gaining attention as a potential investment opportunity. The gaming platform offers various opportunities, including active betting and passive staking with rewards. The native token, MK, is currently priced at $0.214 during its presale.
The staking function is already live, with stakers earning Annual Percentage Yields (APY) as high as 401%. The project has received positive reviews from experts and has already raised over $2.2 million in the presale.
Hot Take: THORChain and Meme Kombat Offer Exciting Opportunities for Crypto Investors
The integration of THORChain with Edge Wallet and the promising features of the Meme Kombat ecosystem present exciting opportunities for cryptocurrency investors. With RUNE’s price surge and the potential breakout for THORChain, there is potential for significant gains. Likewise, Meme Kombat’s stake-to-earn model and high APYs make it an attractive investment option. As the crypto market continues to evolve, staying informed about such projects can help you make informed investment decisions.
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