Rally

Burn

THORChain

Read

Tellor

<p>THORChain’s native RUNE token has seen its price go parabolic in recent weeks, surging over 80% in the past month. According to crypto analysts, this powerful rally is being driven purely by strengthening on-chain fundamentals.</p> 
<p>As highlighted by Twitter user <a href="https://twitter.com/hmalviya9/status/1719265755618009533" target="_blank" rel="noreferrer noopener nofollow">Hitesh</a>, THORChain has been burning record amounts of RUNE tokens lately, with 125,000 RUNE burned on October 29th—the highest daily amount since the launch of THORChain lending. More loans and token burning should continue to provide buying pressure for RUNE.</p> 
<figure class="wp-block-image size-large">
 <img decoding="async" loading="lazy" width="1024" height="396" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-771-1024x396.png" alt="" class="wp-image-367336" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-771-1024x396.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-771-300x116.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-771-768x297.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-771-1536x594.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-771-2048x792.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-771-388x150.png 388w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-771-100x39.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-771-905x350.png 905w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-771-788x304.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-771.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p>Investor “The Wolf of DeFi” has <a href="https://twitter.com/thewolfofdefi/status/1719258411160756496" target="_blank" rel="noreferrer noopener nofollow">noted</a> RUNE’s price action seems disconnected from hype or speculation. Rather, growing platform usage and activity, like the accelerating token burn, organically boost THORChain’s value proposition.</p> 
<p>The Wolf predicts RUNE will hit $3 this week and $6 shortly thereafter as denial shifts to FOMO. He believes THORChain’s potential is becoming too hard for skeptics to ignore, which will further fuel RUNE once sideliners capitulate.</p> 
<p>RUNE’s fundamental-driven rally has already produced striking returns across recent timeframes. Per CoinGecko, RUNE has surged over 80% in the past 14 days. Over the past week alone, it has soared more than 30%. At press time, RUNE is up by over 12%.</p> 
<p>Read also:</p> 
<ul> 
 <li><a href="https://captainaltcoin.com/are-trb-whales-stockpiling-large-exchange-withdrawals-precede-43-tellor-pump/" target="_blank" rel="noreferrer noopener">Are TRB Whales Stockpiling? Large Exchange Withdrawals Precede 43% Tellor Pump</a></li> 
 <li><a href="https://captainaltcoin.com/top-5-cryptocurrencies-with-potential-to-outperform-bitcoin/" target="_blank" rel="noreferrer noopener">Top 5 Cryptocurrencies with Potential to Outperform Bitcoin</a></li> 
 <li><a href="https://captainaltcoin.com/rollbit-rlb-surges-to-new-highs-as-analysts-eye-potential-rally-to-1-but-theres-a-catch/" target="_blank" rel="noreferrer noopener">Rollbit (RLB) Surges to New Highs as Analysts Eye Potential Rally to $1, but There’s a Catch</a></li> 
</ul> 
<p>With THORChain’s roadmap seemingly executing successfully via launches like lending and liquidity pools, network growth appears poised to continue. This productive trajectory stands in contrast to platforms seeing user activity stagnate.</p> 
<p>THORChain has demonstrated an ability to consistently ship code and expand utility. As adoption follows, the runway remains for RUNE to potentially see further exponential appreciation if it can monomaniacally focus on building.</p> 
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style=""> 
 <div class="col_wrap_two mb0"> 
  <div class="offerbox_big_wrap flowhidden"> 
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"> <a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="nofollow sponsored"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a> 
   </div> 
   <div class="product-summary col_item mobileblockdisplay"> 
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-nofollow-sponsored-span-we-recommend-etoro-span-a"> <a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="nofollow sponsored"> <span>We recommend eToro</span> </a> </h3> 
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     <strong>74% of retail CFD accounts lose money.</strong>
    </div> 
    <div class="buttons_col mb25 rh_big_btn_inline"> 
     <div class="priced_block clearfix"> 
      <div> <a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="nofollow sponsored"> Visit eToro Now </a> 
      </div> 
     </div> 
    </div> 
    <div class="bigofferdesc">
     <i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. 
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free.
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The post <a href="https://captainaltcoin.com/thorchains-fundamentals-drive-rune-price-surge-as-burn-rate-hits-record-highs/">THORChain’s Fundamentals Drive RUNE Price Surge as Burn Rate Hits Record Highs</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

THORChain’s Fundamentals Drive RUNE Price Surge as Burn Rate Hits Record Highs

Table of Contents

CaptainAltcoin

Other articles published on Oct 31, 2023

Tether attestation shows cash & cash equivalents rose to 85.7%

Shytoshi Kusama Presents SHIB Name Service on Shibarium, Here’s What to Know

XRP Hits Multi-Week High Amid Triple Digit Volume Boost

What is Aave Coin?

Solana Price Eyes $40 Amid Impressive Rally And 300-Day Breakout

Increasing Money Supply Could Lead to a New Rally in the Crypto Sector, Says Real Vision CEO

Join our free newsletter for daily crypto updates!