The host of crypto information platform Coin Bureau shares its price analysis on the native token of the decentralized exchange protocol THORchain, altcoin RUNE.
Analyst known by the pseudonym Guy has 1.51 million YouTube subscribers in a new video, as long as the crypto bull run continues. THORchain (RUNE) He says “the sky is the limit” for him.
“As time passes, cryptocurrency is starting to become another branch of the current financial system. KYC wherever you go [müşterinizi tanıyın] you need to provide. Almost all of the services you use include an intermediary, and everything you do is meticulously tracked.
This trend towards surveillance and centralization is worrying to say the least. Fortunately, however, there are some cryptocurrencies working to keep this industry free, and THORchain is arguably at the top of that list. And now that he’s back, it’s time to remind all of you how important this crypto project is.”
In June, THORchain was hacked several times worth around $13 million. According to Guy, the developers took some steps in August and September to “harden” the protocol. In return, the analyst now believes that RUNE’s price action reflects this positive sentiment.
“RUNE is picking up pretty well and is rapidly approaching its previous all-time high. Reaching this milestone; It should be pretty easy for three reasons.”
First of all, the fact that THORchain is back online means that more cryptocurrencies will be added to THORchain’s various vaults. Since THORchain nodes have to stake 1.5 times the value of RUNE for the value of the cryptocurrency in THORchain’s vaults, more cryptocurrencies are deposited into these vaults and this creates buying pressure for RUNE.
Second, THORchain liquidity providers depositing crypto into THORchain vaults should collect the RUNE equivalent for these assets as well; which means they will get more RUNEs.
Third, THORchain’s various DEX [merkezi olmayan borsa] Users of front-ends have to pay all transaction fees in RUNE, making them a third vector of demand for RUNE.”
Talking about the developments in the altcoin, the crypto analyst later also published his price forecast for RUNE.
“As for how high we can go, I will reiterate that I really think the sky is the limit for RUNE because of the insane value the THORchain protocol provides.
To me, a reasonable estimate for the remainder of this bull run would be a 3-4x increase from here.
And DeFi from Chinese crypto traders [merkezi olmayan finans] The strong demand we see for RUNE could push RUNE even higher.”
According to CoinGecko data, RUNE is currently trading at $14, up over 50 percent in the last 7 days. However, the altcoin is still 20% below its all-time high of $20.87 set in May.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.