{"id":141064,"date":"2023-09-01T22:23:41","date_gmt":"2023-09-01T16:53:41","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=141064"},"modified":"2023-09-01T22:23:41","modified_gmt":"2023-09-01T16:53:41","slug":"this-is-how-rune-reacted-to-thorchains-latest-launch-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/this-is-how-rune-reacted-to-thorchains-latest-launch-crypto-news\/","title":{"rendered":"This is how RUNE reacted to THORChain\u2019s latest launch\u00a0 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>\t\t\t\t\t\t<br style=\"clear: both;float: none\" \/><\/p>\n<ul>\n<li><em><span style=\"font-weight: 400\">THORChain\u2019s launch allows users to lend their native Layer 1 assets, like BTC and ETH, to borrow TOR.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">After a short decline, RUNE\u2019s price regained upward momentum.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/rune\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">THORChain [RUNE]<\/span><\/a><span style=\"font-weight: 400\"> recently decoupled from the market as it enjoyed a comfortable bull rally over the past two weeks. Investors were actually expecting the token to rally further, as it was awaiting a major launch.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">Realistic or not, here\u2019s<\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" data-wpel-link=\"internal\"> <span style=\"font-weight: 400\">RUNE market cap in BTC\u2019s terms<\/span><\/a><span style=\"font-weight: 400\">\u00a0 \u00a0\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">However, that was not the case, as the price witnessed a correction.\u00a0\u00a0<\/span><\/p>\n<h4><strong>THORChain\u2019s lending protocol is live<\/strong><\/h4>\n<p><span style=\"font-weight: 400\">On 21 August, THORChain announced that its lending protocol went live. With the launch, users could lend their native Layer-1 assets, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/btc\" data-wpel-link=\"internal\">Bitcoin [BTC]<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/eth\" data-wpel-link=\"internal\">Ethereum [ETH]<\/a>, to THORChain and borrow a USD-denominated debt. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The new debt denominator is named TOR, and debt can be repaid in any THORChain-supported asset, including stablecoins.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Lending is live. <\/p>\n<p>Params, Disclosure, Risks, How-to Thread<\/p>\n<p>\ud83e\uddf5<\/p>\n<p>\u2014 THORChain (@THORChain) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/THORChain\/status\/1693423215580958884?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">August 21, 2023<\/a><\/p>\n<\/blockquote>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">The release made THORChain a hot topic of discussion, as evident from the rise in its social volume. However, its weighted sentiment dropped during that period.<\/span><\/p>\n<div id=\"attachment_337672\" style=\"width: 3850px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/THORChain-RUNE-16.50.47-22-Aug-2023.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-337672\" class=\"wp-image-337672 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/THORChain-RUNE-16.50.47-22-Aug-2023.png\" alt=\"\" width=\"3840\" height=\"1300\" \/><\/a><\/p>\n<p id=\"caption-attachment-337672\" class=\"wp-caption-text\">Source: Santiment<\/p>\n<\/div>\n<h4><strong>RUNE\u2019s response was surprising<\/strong><\/h4>\n<p><span style=\"font-weight: 400\">Though the launch had the potential to fuel RUNE\u2019s ongoing rally, the ground reality turned out to be different. As<\/span> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/rune-under-the-control-of-bulls-as-its-rally-gains-serious-momentum\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">reported earlier<\/span><\/a><span style=\"font-weight: 400\">, there was a chance of a price correction. This turned out to be true, as on 21 August, RUNE\u2019s price declined for a couple of hours. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Nonetheless, the token later stabilized and again gained upward momentum. <\/span><\/p>\n<p><span style=\"font-weight: 400\">According to <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/thorchain\/\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400\">, RUNE\u2019s price has increased by more than 5% in the last 24 hours. At press time, it was trading at $1.68 with a market capitalization of over $572 million. <\/span><\/p>\n<p><span style=\"font-weight: 400\">In another spot of good news, <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/rune-rallies-as-the-rest-of-the-market-crashes-is-thorchain-the-reason\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">RUNE<\/span><\/a><span style=\"font-weight: 400\">\u2019s Open Interest increased while its price went up. A hike in this metric suggested that the press time price trend might continue longer.<\/span><\/p>\n<div id=\"attachment_337673\" style=\"width: 1717px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Coinglass-3.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-337673\" class=\"wp-image-337673 size-full\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"1707\" height=\"397\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Coinglass-3.jpg 1707w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Coinglass-3-300x70.jpg 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Coinglass-3-1024x238.jpg 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Coinglass-3-768x179.jpg 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Coinglass-3-1536x357.jpg 1536w\" data-lazy-sizes=\"(max-width: 1707px) 100vw, 1707px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Coinglass-3.jpg\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-337673\" class=\"wp-image-337673 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Coinglass-3.jpg\" alt=\"\" width=\"1707\" height=\"397\" \/><\/a><\/p>\n<p id=\"caption-attachment-337673\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">How much are<\/span> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-rune-to-usd\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">1,10,100 RUNEs worth today<\/span><\/a>?<span style=\"font-weight: 400\">\u00a0\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">However, CryptoQuant\u2019s<\/span> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/asset\/rune\/summary\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> revealed that THORChain\u2019s Relative Strength Index (RSI) was overbought, which was bearish. On top of that, both the token\u2019s Chaikin Money Flow (CMF) and On Balance Volume (OBV) registered downticks. This could prevent the token\u2019s price from going up any further. <\/span><\/p>\n<p><span style=\"font-weight: 400\">But, the Exponential Moving Average (EMA) Ribbon revealed a clear bullish upper hand in the market, as the 20-day EMA was above the 55-day EMA.\u00a0<\/span><\/p>\n<div id=\"attachment_337675\" style=\"width: 1825px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/RUNEUSDT_2023-08-22_16-59-10.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-337675\" class=\"wp-image-337675 size-full\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"1815\" height=\"769\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/RUNEUSDT_2023-08-22_16-59-10.png 1815w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/RUNEUSDT_2023-08-22_16-59-10-300x127.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/RUNEUSDT_2023-08-22_16-59-10-1024x434.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/RUNEUSDT_2023-08-22_16-59-10-768x325.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/RUNEUSDT_2023-08-22_16-59-10-1536x651.png 1536w\" data-lazy-sizes=\"(max-width: 1815px) 100vw, 1815px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/RUNEUSDT_2023-08-22_16-59-10.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-337675\" class=\"wp-image-337675 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/RUNEUSDT_2023-08-22_16-59-10.png\" alt=\"\" width=\"1815\" height=\"769\" \/><\/a><\/p>\n<p id=\"caption-attachment-337675\" class=\"wp-caption-text\">Source: TradingView<\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>THORChain\u2019s launch allows users to lend their native Layer 1 assets, like BTC and ETH, to borrow TOR.\u00a0 After a short decline, RUNE\u2019s price regained upward momentum.\u00a0 THORChain [RUNE] recently decoupled from the market as it enjoyed a comfortable bull rally over the past two weeks. Investors were actually expecting the token to rally further, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":141065,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-141064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=141064"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141064\/revisions"}],"predecessor-version":[{"id":147106,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141064\/revisions\/147106"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/141065"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=141064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=141064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=141064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}