THORChain Price Prediction
THORChain Fundamental Analysis
RUNE is a token powering THORChain — a liquidity platform used as a fast, cheap, and decentralized cryptocurrency exchange, on the one hand, and an opportunity for some users to become liquidity providers and get some yield on their idle digital assets, on the other hand. Importantly, it facilitates cross-chain swaps, but unlike most of the existing solutions, does not require a third party i.e. centralization for that. THORChain was launched on Binance DEX through IDO in 2019, but its mainnet went live in January 2021. The people behind the project keep maintaining their anonymity.
As a decentralized exchange, THORChain allows its users to swap assets using liquidity pools, without having to give up their custody of those assets to the exchange, with no order books. THORChain uses some novel or unique technologies — for example, a way to mitigate impermanent loss or a protocol for cross-chain swaps.
RUNE as a token has multiple purposes, one of which is also facilitating cross-chain swaps by being a native settlement currency that is supplied to liquidity pools. The network is secured with Proof-of-Bond protocol, requiring every node to provide RUNE as a bond to discourage attacks — the details make this usage THORChain-specific too. RUNE is also used in more or less ordinary situations like providing network incentives, governing the network, and securing the assets.
THORChain Price Chart
From the project’s IDO in 2019 until January 2021, there was little movement involving RUNE on the market, so its price didn’t fluctuate much either, very slowly rising from ~$0.02 to ~$1.15 in early 2021. By spring of the same year, RUNE’s price gained a lot of momentum, as some interesting tweaks and additions to the protocol were being deployed or at least announced. Also, due to the token’s nature (being used as a settlement currency in liquidity pools), its price tends to be at least partially correlated with the general market. All this led to RUNE surging to $21.26 on May 19, which is its all-time high. Since then, however, its price has generally been in decline, which seemingly stopped around the ~$6-$7 mark.
THORChain Technical Analysis
Despite the fact that 100% accurate technical analysis for THORChain cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated RUNE buy-and-sell rating for selected timeframe. The summary for RUNE/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
THORChain Price Prediction
Below we have collected the most reliable price projections for THORChain (RUNE) from popular forecast platforms.
#1. WalletInvestor RUNE Price Prediction for 2021, 2023, 2025
According to WalletInvestor, THORChain price will grow from $3.973 to $16.794 in one year. That makes RUNE an awesome investment. The long-term earning potential is 322.70%. Predicted price for the end of 2026 is $67.236.
#2. TradingBeasts RUNE Price Prediction for 2022
Answering the question about if THORChain is a good investment, TradingBeasts say a resounding yes. In the 2021 perspective, this coin price is predicted to reach $4.70911 with a growth to $5.63777 by the end of 2022.
#3. DigitalCoin RUNE Price Forecast for 2021, 2022, 2023, 2025
In DigitalCoin analysis, the price of THORChain cryptocurrency will rise in the next 5 years starting from $4.2868 as of today’s price to $17.6835695. It will go up to $7.264177 by 2022 and continue its growth in 2023–2024. Based on this forecast, THORChain is a profitable long-term investment.
As it can be clear from the analysis cited above, THORChain (RUNE) projections are rather contradictory. There is no universal consensus either about positive or negative future RUNE price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the THORChain projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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Originally published at https://swapspace.co.