There is now some buzz surrounding ThorChain after new information about the chain was published that could change the course of RonAccording to CoinGecko, RUNE is on an upward trajectory with a staggering 17% gain since last week. This shows that investors believe RUNE has long-term potential once the effects of its latest developments on the platform are reflected.
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Recently, news broke that ThorChain might be merging with OKX in the future. This has led to a major change in investors’ perception of the platform as integration with OKX, a major centralized exchange, will be a big factor in RUNE’s future move.
Big things are coming in the future for RUNE.
According to user X Your opinionOKX has been using ThorChain’s infrastructure to facilitate transactions in recent months. In terms of metrics, OKX’s use of Thorchain is primarily for swaps, making the latter a vital part of OKX’s swap volume.
In your opinion stringOKX and ThorChain’s swap volume reached 20 million in just one week, demonstrating ThorChain’s reliability despite the high volume. ThorChain’s Bitcoin swap capabilities complement OKX’s support for Bitcoin-based features such as ordinal numbers and BRC-20 tokens.
The word is out that @THORChain May be merged into @okxweb3.
This is huge because it is backed by @OKXone of the top 3 CEX exchanges by volume.
While we wait for the official announcement, follow this thread to see how much OKX Wallet has traded with THORChain so far.
— Ryk (@rykcrypt) August 14, 2024
The new betting platform Swell has also realized this potential. According to its announcement post about Newly launched swBTC and ThorChain will be used for native BTC swaps.
These aren’t the only things ThorChain is currently involved in. In a recent interview, ThorChain led @J.Bethor Asked about the platform’s new project, he said: “Look, all I can say is that the Telegram chat has been opened, and once you open a Telegram chat, it becomes a group chat, and it’s in the works.”
RUNE will continue to rise due to these factors.
RUNE is currently enjoying a great support level as it continues to rise amidst the bullish trend the market is witnessing. Basically, the token is trading between a price range of $3.5 and $3.8, which could prove beneficial in the coming days.
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RUNE stock is expected to breakout in the coming days as the hype continues to drive investor confidence to new highs. As the market continues its upward momentum in the coming days, investors and traders should be able to make huge gains.
The current trading range also opens the door for a long-term recovery of $4.4. However, if the market reverses and loses the bullish momentum it has, RUNE stock could drop to the $3 level.
At this point, investors and traders should be able to accumulate over the long term with open opportunities on-chain and in the market to make huge gains.
Featured image by Pexels, chart by TradingView
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