THORChain (RUNE) Continues Bullish Trend, Could Climb Further
THORChain (RUNE) has been maintaining a bullish trend, with a 2% gain in the past month and 2% gain in the last seven days. Today, the coin has surged by 4%, with its trading volume increasing by 24% in the last 24 hours. This price movement has sparked speculation that the coin could climb even higher in the coming days.
THORChain’s Massive Total Value Locked Supports Surge Speculation
THORChain is a leading decentralized liquidity protocol with a massive Total Value Locked (TVL) of over $265.2 million. This high TVL indicates significant adoption and usage within the decentralized finance (DeFi) ecosystem, leading to more efficient trading and lending markets for RUNE.
RUNE’s Consecutive Green Candles Indicate Uptrend
THORChain (RUNE) has formed three consecutive green candles on the chart, signaling increased buying pressure over the past three days. The Relative Strength Index (RSI) has also increased, suggesting potential price rallies in the coming days. Additionally, the overall market trend is bullish as the price is above the Simple Moving Average (SMA).
RUNE Nears Critical Resistance At $1.6521
RUNE’s price rally has brought it close to the resistance level of $1.6521. While profit-taking traders may cause selling pressure at this level, considering the overall bullish market trend, RUNE could break above this resistance and target $1.7 next. The coin also has support at $1.5135, which could help it rebound if a downtrend occurs.
BTCBSC Raises Over 1.8m in Presale Round
Bitcoin BSC ($BTCBSC), a new stake-earning cryptocurrency, has reached a presale milestone of $1.8 million. Investors are excited about this project because it offers an opportunity to purchase the token for less than $1, reminiscent of the early days of Bitcoin. Experts believe that once BTCBSC becomes available on decentralized exchanges (DEXs), its value will surge.
Lucrative Staking Rewards for Token Holders
Bitcoin BSC’s standout feature is its stake model, which reduces selling pressure at launch and provides long-term benefits to token holders. The stake contract follows the original Bitcoin’s block rewards schedule, distributing BTCBSC tokens to stakers for over 120 years. Stakers can earn rewards through Proof of Stake (PoS) mining, with an APY exceeding 300% currently.
Hot Take: Promising Run for THORChain and Bitcoin BSC
THORChain’s bullish trend and high TVL suggest further growth potential for RUNE. However, the coin faces resistance at $1.6521, which may cause a temporary stall in its upward trajectory. On the other hand, Bitcoin BSC’s presale success and unique stake model make it an intriguing investment option with long-term rewards for token holders.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.