RUNE Up 17% After Talks Of Major Partnership Hit The Market – Details
18 August 2024 - 5:00AM
NEWSBTC
Some buzz has now surrounded ThorChain after new on-chain info
dropped that might change the trajectory of RUNE, its native token.
According to CoinGecko, RUNE’s trajectory is upward with a whopping
17% gain since last week. This shows that investors believe RUNE
has long-term potential once the effects of its latest developments
are reflected on the platform. Related Reading: Despite A Stormy
Market, Dogecoin Addresses Skyrocket To Over 6 Million Word has
recently spread that ThorChain might be integrated with OKX in the
future. This significantly changed investor outlook on the platform
as integration with OKX, a major centralized exchange, will be a
big factor for RUNE’s movement in the future. Big Things To
Come In The Future For RUNE According to X user Rayyk, the OKX has
been using ThorChain infrastructure to facilitate transactions in
recent months. Metrics-wise, OKX’s use of Thorchain is primarily in
swaps, making the latter a vital part of OKX’s swap volume.
In Rayyk’s thread, OKX and ThorChain’s swap volume reached 20
million within just one week, showing ThorChain’s reliability
despite the high volume. ThorChain’s capabilities in swaps
involving Bitcoin complement OKX’s support for Bitcoin-based
features like ordinals and BRC-20 tokens. Word is out that
@THORChain may be integrated into the @okxweb3. This is huge
because it is backed by @OKX, one of the top 3 CEX by volume. As we
await the official announcement, follow this thread to see how much
volume OKX wallet has transacted with THORChain so far. 🧵👇
pic.twitter.com/CX0ZtbHKA6 — Rayyyk (@rykcrypt) August 14, 2024
Swell, a new staking platform, also recognized this capability.
According to their announcement post about their newly launched
swBTC, ThorChain will be used for native BTC swaps. These are
not the only things that ThorChain is currently involved with. In a
recent interview, ThorChain lead @jpthor was asked about the
platform’s new project. When asked about Tron’s possible
integration, he replied: “Look, all I can say is a Telegram chat
has opened, and once a Telegram chat is open, it is a group chat,
it’s getting done.” RUNE Will Continue To Rise Because Of These
Factors RUNE is currently on a great support level as it continues
to rise amidst the bullishness the market is experiencing. At its
core, the token is trading between the $3.5-$3.8 price range which
may come in handy in the coming days. Related Reading: Cosmos Price
Analysis: Why This Analyst Says ATOM Has ‘A Great Chart’ RUNE will
break through in the coming days as the hype continues to push
investor confidence at its highest. With the market continuing its
upward momentum in the coming days, investors and traders should be
able to get massive gains. The current trading range also opens up
$4.4 for retaking in the long term. However, if the market does a
reversal and loses the bullish momentum it has, RUNE might fall to
the $3 price floor. For now, investors and traders should be
able to accumulate in the long term with open opportunities
on-chain and on the market for massive gains. Featured image
from Pexels, chart from TradingView
Bitcoin (COIN:BTCUSD)
Historical Stock Chart
From Jul 2024 to Aug 2024
Bitcoin (COIN:BTCUSD)
Historical Stock Chart
From Aug 2023 to Aug 2024