World Crypto Global Official Site | runeusdt

Author: Semilore Faleti

THORChain (RUNE) Tipped For 70% Decline Amid North Korean Transactions Debacle

RUNE, the native token of the THORChain protocol, remains under significant bearish pressure following a 9.09% price decline in the last week. According to crypto analyst Ali Martinez, RUNE is likely far from a market recovery following a bearish flag pattern on its trading chart. Related Reading: Altcoin Transaction King? TRON Hits 42% Share As USDT, DeFi Explode RUNE Chart Hints At Major Sell-Off Ahead – Details In technical analysis, a bearish flag is a continuation pattern formed after a significant downtrend, followed by a period of consolidation, before another leg downward. This pattern is characterized by parallel or slightly supporting ascending levels thereby giving the shape of a flag. Based on an analysis by Martinez, a bearish flag has now appeared on the RUNE/USDT 12-hour trading chart following its recent consolidation pattern which came after the asset’s decline from mid-January to early February. Interestingly, RUNE has now broken below the lower boundary of the bearish flag at $1.27 reducing any immediate odds of a bullish price reversal. Unless investors can force a price reclaim of this lower boundary, Martinez’s prediction states RUNE could be headed for a price target of $0.38 representing a potential 69% decline on the asset’s current price. Lately, the RUNE market has seen a significant amount of unwanted developments. Aside from its obvious market woes, recent events in the THORChain community have cast more concerns over the asset. In the past week, one of THORChain’s developers nicknamed Pluto(9r) resigned from the decentralized exchange after a controversial decision involving transactions from North Korea. Notably, a vote by Pluto(9r) and two other validators to halt the Ethereum Network from running on THORChain to prevent transactions by North Korean hackers was quickly overturned by other network validators resulting in the resignation of the former. This development comes following the $1.5 billion hack of the Bybit exchange which has so far been linked to popular North Korean Lazarus Group. According to blockchain tracker, Lookonchain, the Bybit hacker laundered $605 million (54%) of the loot using the THORChain network. Related Reading: Dogecoin Demand SlumpsNearly 70% Drop In Open Interest Raises Concerns RUNE Price Overview At press time, RUNE trades at $1.24 reflecting a 3.00% price fall on the last day. As earlier stated, bearish forces are largely dominant in this asset market as evidenced by the 46.67% overall decline in the past 30 days. Interestingly, the crypto prediction site Coincodex presents an optimistic stance on the RUNE market. Their latest forecasts show a price recovery to $1.40 in 30 days and $1.66 in the next six months. Featured image from iStock, chart from Tradingview

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Thorchain Shows A Glimpse Of Hope, Are The Green Days Near?

Author: jamesobande

United Kingdom

Source: NewsBTC

Oct 04, 2022 04:45

Thorchain Shows A Glimpse Of Hope, Are The Green Days Near?

RUNE price could be ready to break out from the downtrend as price gears up for a short-term recovery creating more bullish sentiment. RUNE looks strong on the low timeframe. The price of RUNE attempts to break and hold above 8 and 20 EMA on the daily timeframe. Thorchain (RUNE) has shown little or no recovery sign in recent weeks, but that could change as the price gears up for a rally against tether (USDT). Previous weeks for the crypto space have been slow as most altcoins, and major cryptocurrencies like Bitcoin (BTC) continued to move in a range. The month looks promising, with altcoins, including Thorchain (RUNE), bouncing off from their low with high hopes of a rally with the current shift in trend. (Data from Binance) Related Reading: Maker (MKR) Continues Its Positive Moves, Neglecting Weekly Market Trend Crypto Market Outlook For most crypto projects as altcoins, including RUNE, the new month has been more of a relief. The price of Bitcoin has led the market, rising from a low of $18,800 to $20,100. With the market looking more promising for crypto assets, we may see more cryptocurrency recovery, as the previous month prevented major altcoins from rallying. Thorchain (RUNE) Price Analysis On The Weekly Chart The price of RUNE in recent weeks did not show the strength as seen in other altcoins like Cosmos as the price continued to decline to its weekly low of $1.5. After rallying from a low of $3 to a high of $12, the price of RUNE faced rejection as it was unable to break above $12, acting as resistance to the price of RUNE and the area of supply. The price has since struggled to find support as the price declined to a weekly low of $1.5 with what looks like a demand zone for more buy orders. RUNE price bounced off this region to $1.6 as price prepares for a rally from this area. Although the price continues in a range trying to break out, it looks promising as there have been more buy orders than in recent weeks. Weekly resistance for the price of RUNE – $1.8-$2. Weekly support for the price of RUNE – $1.5. Price Analysis Of RUNE On The Daily (1D) Chart On the daily timeframe, the price of RUNE remains bullish as it attempts to flip the resistance at $1.8 and break out with good volume. The price of RUNE is currently trading at $1.65, with resistance to breaking above the 8 and 20-day Exponential Moving Averages (EMA), which act as resistance zones for the price of RUNE. The prices of $1.6 and $1.66 correspond to RUNE’s 8 and 20-day EMAs, respectively. Daily resistance for the RUNE price – $1.66-$1.8 Daily support for the RUNE price – $1.5. Related Reading: Cardano: These Factors Have A Negative Impact On ADA Price Featured Image From zipmex, Charts From Tradingview

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THORChain Activates Feature, 30% Spike Follows, Can Bulls Sustain It?

Author: Reynaldo Marquez

United Kingdom

Source: NewsBTC

Mar 10, 2022 12:10

THORChain Activates Feature, 30% Spike Follows, Can Bulls Sustain It?

Up almost 30% during today’s trading session, decentralized cross-chain exchange THORChain (RUNE) trades north of $5.28. One of the top gainers in the current relief rally across the market, the network has activated synthetic assets, a new feature that could attract use cases and users to the platform. Related Reading | Monero And Zcash Take Off With 15% Gains, Here’s What May Have Spurred The Rally Per an official post, synthetics assets are tokens pegged to the value of their underlying collateral, such as Bitcoin or Ethereum. In order words, users can now access BTC, ETH, and others running on THORChain. Similar to Wrapped Bitcoin (wBTC), a popular token on Ethereum, with the difference than synthetic assets can also be collateralized by BTC, in this case, and other cryptocurrencies. The synthetic version of Bitcoin running on this blockchain is called sBTC and offers the user exposure to BTC’s price performance. Unlike Bitcoin, according to the post, its synthetic version on THORChain offers faster transactions and lower fees. In that way, a user can trade with this benefit and benefit from other yield generation products. Per the post: As a benefit, you will have access to yield generating vaults, and be one of the first users who will vest their funds. Minting synths will be capped and access will depend on how much liquidity is in the THORChain pools. The post adds that users can simplify their trading experience, and gain access to different cryptocurrencies from multiple blockchains without using a centralized exchange. Core developer Chad Barraford said the following on the advantages of this feature and its impact on the network’s ecosystem: Synthetics can be used to change the pool depths, and therefore correct the pool price to match market demands, i.e. arbitrage. This is super important because it means the pools can be arbs faster, cheaper, and more efficiently. THORChain Publish Roadmap, How It Is Moving Towards Decentralization Furthermore, synthetics assets will provide THORChain users with the ability to earn as much as 20% interest on their holdings. For that, users will need to lock their assets on a vault called THORSaving which will have an initial 5% APY. One of the most hyped products in the lending and borrowing use case. Users will be able to access “self-repaying loans” which generate yield on collateral. As the post clarified: You take the loan which will be paid automatically by the interest the vaults generate from the locked synthetics. Barraford predicts a potential increase in trading volume for RUNE and the THORChain ecosystem in general. The project recently integrates with Terra (LUNA) and will begin acquiring this network’s native token along with its native stablecoin UST. Related Reading | Mars Protocol To Launch On Terra, But Why MARS Has Seen A Massive Dump Ultimately, the decentralized exchange aims at increasing its liquidity 10-fold. To achieve this goal, THORChain published a roadmap that included the integration of DEX aggregators, more features, wallets, and access to other blockchains. THORChain project roadmap: * More chains (LUNA, Privacy, L2's)* More wallets (all the big ones)* More integrations (Dex aggregators)* More Features: Synths, THORFi (lending, saving), THORNames Not stopping until decentralised liquidity 10x bigger than centralised. $RUNE — THORChain #ACTIVATETHESYNTHS (@THORChain) March 6, 2022

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