Excitement Over 'Unseizable, Unfreezable Swaps' With Bitcoin Is Sending This Coin 40% Higher Today

Decentralized liquidity protocol ThorChain's RUNE/USD token jumped over 40% to $5.82 over the last 24 hours early on Wednesday.

ThorChain (RUNE) Price Performance
Time-frame % Change (+/-)
24-hour 40.8%
24-hour against Bitcoin BTC/USD 36.95%
24-hour against Ethereum ETH/USD 35.6%
7-day 61.2%
30-day 51.7%

YTD performance

-21%

See Also: Is ThorChain (RUNE) A Good Buy?

Why Is It Moving? RUNE is the token associated with ThorChain, a decentralized and autonomous cross-chain liquidity network.

Interest in RUNE surged ahead of an upcoming mainnet launch - a fully developed and deployed blockchain protocol - and integration with Terra LUNA/USD ecosystem. The development was announced earlier in the project’s monthly report. 

On Tuesday, Nine Realms, a cryptocurrency platform that focuses on institutional liquidity to THORChain, said the Terra integration is complete. 

Notably, LUNA trended on price tracking websites CoinGecko and CoinMarketCap at press time. The token was also included among the most mentioned coins on Twitter. It attracted 488 tweets at press time, according to Cointrendz data.

The ThorChain project highlighted features of the swap between Bitcoin and TerraUSD (UST) by saying funds “can never be seized or frozen.” UST is a stablecoin built on the Terra blockchain, its creation facilitated by burning LUNA tokens.

RUNE hit an all-time high of $21.26 in May last year and at press time traded 73.05% below that level. In 2021, the ThorChain network was hit by a high-profile security incident. An update restored trading with Ethereum’s network in October.

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Posted In: Decentralized liquidity protocolNineRealmsTerraTHORChainCryptocurrencyNewsMarketsMoversTrading Ideas

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