FOMO

THORChain

THORChain’s native RUNE token has seen a strong rally over the last 24 hours, surging 16% while the broader crypto market has remained flat or dropped. RUNE now trades around $1.69, up from $1.46 just yesterday. 
This price spike appears driven by growing adoption and usage of the THORChain decentralized exchange platform. The platform hit a new all-time high of $100 million in daily volume over the past day as traders take advantage of THORChain’s fast settlement speeds and low fees compared to centralized exchanges. 
The launch of THORChain’s “stream swaps” feature is likely contributing to the increasing volumes. Stream swaps allow users to make instant crypto swaps without having to wait for block confirmations, making trading faster and cheaper. 
Some crypto analysts view RUNE’s divergent price action as a bullish sign of strength compared to the stagnating broader market. With lending and other new features planned on THORChain’s roadmap, proponents argue RUNE could see further exponential growth if adoption continues rising. 
However, other experts urge caution on chasing recent RUNE gains. They point to signs of potential distribution and caution traders not to FOMO into what may be a temporary pump. 
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Large wicks on RUNE’s chart could signal the offloading of positions by major holders. After such a parabolic advance higher, a reversion back to its trading range in the $1.30s or lower would not be surprising. 
Traders should exercise prudence and wait for confirmation of a sustained breakout before jumping on the RUNE bandwagon. With cryptos highly volatile and prone to sharp reversals, caution is always warranted, particularly following such vertical price moves. 
In summary, while THORChain’s platform growth and stream swaps adoption look promising for RUNE’s long-term upside, traders should be wary of chasing short-term pumps until clear confirmation of a new uptrend. As always, thorough due diligence is advised before investing in small cap cryptos with higher risk profiles. 
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The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/rune-pumps-16-as-thorchain-volumes-hit-record-highs-but-theres-a-catch/">RUNE Pumps 16% as THORChain Volumes Hit Record Highs, but There’s a Catch</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.

RUNE Pumps 16% as THORChain Volumes Hit Record Highs, but There’s a Catch

CaptainAltcoin

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