{"id":560292,"date":"2023-11-12T17:45:49","date_gmt":"2023-11-12T17:45:49","guid":{"rendered":"https:\/\/wncen.com\/?p=560292"},"modified":"2024-06-11T14:31:03","modified_gmt":"2024-06-11T14:31:03","slug":"thorchain-rune-notches-31-5-gain-to-attain-new-yearly-peak","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/thorchain-rune-notches-31-5-gain-to-attain-new-yearly-peak\/","title":{"rendered":"THORChain (RUNE) Notches 31.5% Gain To Attain New Yearly Peak"},"content":{"rendered":"

RUNE, native token of the cross-chain decentralized exchange THORChain, is currently one of the best-performing cryptocurrencies in the market, boasting of a 31.5 % price increase in the last 24 hours.\u00a0<\/span><\/p>\n

Based on data from Coingecko,<\/a> this price gain only underlines the remarkable bullish form of RUNE in the past few weeks,<\/a> as the token is up by 115.0% and 212.3% on the 14-day and 30-day charts, respectively.\u00a0<\/span><\/p>\n

Interestingly, this sustained bullish pressure in the RUNE market has resulted in the DeFi coin attaining a new yearly high of $5.31 and a peak daily trading volume of $1.28 billion.<\/span><\/p>\n

Related Reading: THORChain Beats Rivals In Top 100 Coin Rankings With 34% Rally \u2013 How RUNE Did It<\/a><\/div>\n

Behind THORChain (RUNE) Rise<\/strong><\/h2>\n

In analyzing RUNE\u2019s meteoric rise in the past few weeks, several analysts have given credit to the newly introduced features on the THORChain platform.\u00a0<\/span><\/p>\n

For context, in the THORChain Q3 2023 Ecosystem Report<\/a>, the DEX\u2019s development team announced the implementation of new features such as lending, streaming swaps, streaming loans, and savers for stablecoins, among others.\u00a0<\/span><\/p>\n

In an X post on Saturday,<\/a> a crypto analyst with the username The Wolf of DeFi provided some insight into how one of these features has spurred RUNE to new heights. The <\/span>analyst attributed most of RUNE gains to the streaming swaps feature, which is designed to allow large swap requests to be automatically divided into smaller requests that are processed over time.\u00a0<\/span><\/p>\n

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$RUNE<\/a> keeps making new highs. The reason for this is the liquidity flywheel. I'll show you how it works and why it will push $RUNE<\/a> much higher. @THORChain<\/a> is built on liquidity pools. As the infrastructure is used for swaps, liquidity providers make money. The base asset of\u2026<\/p>\n

— The Wolf of Defi \u26a1\ufe0f (@thewolfofdefi) November 11, 2023<\/a><\/p><\/blockquote>\n