THORChain is a decentralized liquidity network enabling instant and authorization-free cross-chain asset exchanges and decentralized cross-currency financing. It allows users to place assets in liquidity pools to receive commissions, instantly exchange assets at open market prices, borrow and lend any asset, and pay in any currency. According to the project’s idea, the future is transparent, liquid, and motivated.
At the end of spring 2020, the RUNE cryptocurrency price began to increase rapidly. In this article, we’re going to analyze the price changes and predict the future of THORChain cryptocurrency.
THORChain Platform & Cryptocurrency Basics
Thorchain is not only a protocol but an entire ecosystem that ultimately allows you to create an efficient and decentralized liquidity network. THORChain strengthens and expands the entire digital asset ecosystem. It is entirely independent of chains and supports any asset.
THORChain does not compete with any of the existing protocols or chains. On the contrary, it is built to connect them into one liquid, redundant, and decentralized network. It allows users to pay with Bitcoin, instantly receive Ethereum at the correct market price; THORChain provides the bridge protocol with the RUNE token as a liquid settlement currency.
THORChain offers a relatively simple solution at the right time. The platform is based on Tendermint and Cosmos. The blockchain has an exceptional feature, the Threshold Signature Scheme (TSS). It enables nodes to participate in signing the contract anonymously. This feature provides the highest level of security. Moreover, the Bifröst Signer Module converts redemption transactions into chain-specific transactions.
RUNE is a native token of THORChain released on Binance Chain. It is used for almost all functions performed on the network, and RUNE investors can benefit from placing their tokens on RuneVault, and get more RUNE when tokens are burned on every transaction performed by the network.
It works similarly to any other PoS (Proof-of-Stake) network token. As a project heavily focused on blockchain performance and liquidity, those who are investing in RUNE cryptocurrency will only continue to benefit as the network scales and attracts more partners and developers using the THORChain protocol.
While most cryptocurrencies are still priced purely on assumptions, the token model underlying RUNE gives it real utility. Depending on the amount of RUNE locked by Validator nodes, the price and market cap will be affected accordingly.
THORChain Coin Price Changes
The THORChain cryptocurrency IEO was conducted on July 20, 2019, on the Binance DEX platform. The project succeeded in raising almost $500K. One RUNE coin was equal to $0.032.
The coin price was gradually growing within $0.10 for almost the whole of 2019 and the beginning of 2020. In May 2020, developers announced the Testnet 4. They invited node operators to set up nodes and promised $500/mo profit. After this announcement, the price started to go up rapidly. On July 24th, the Binance exchange listed the RUNE cryptocurrency. This event improved the rate, too. On this day, RUNE cryptocurrency broke the record and hit an all-time highest point with $0.72 price.
Besides, we’ve collected some price predictions for those who are interested in RUNE as an investment tool.
#1. THORChain (RUNE) Price Forecast by Wallet Investor Algorithms
According to the source, it’s profitable to invest in RUNE cryptocurrency. It considers that the THORChain cryptocurrency price will go up to $1.4. Moreover, the asset price will grow in a bullish scenario so that the RUNE coin can reach the rate point of $5.
#2. Digital Coin Price Algorithms on RUNE Cryptocurrency Future
This version of RUNE price prediction is not as bullish as a previous one. Digital Coin Price predicts a slight increase in THORChain cryptocurrency price. The coin can go up to $1.3 in one year. By the end of 2025, the rate can reach not more than $1.8.
RUNE Cryptocurrency Price Prediction – Summary
At the end of July, out of 100 leading cryptocurrencies in terms of capitalization, THORChain showed the highest 18% growth. The project team has its roadmap in which they claim that the Mainnet is not far away. It seems like the asset can show us real growth.
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.