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 <p class="is-style-lead">THORChain (RUNE) has shown robust performance in the last few days on its way to reaching its highest level of the previous 12 months.</p>
 <p>According to crypto price aggregator CoinGecko, the price of THORChain’s native cryptocurrency, RUNE, is currently at a <a rel="noopener noreferrer nofollow" title="year-high" href="https://thebittimes.com/tag/year-high.html">year-high</a> $4.65. The price is 15.1% higher than it was 24 <a rel="noopener noreferrer nofollow" title="hours" href="https://thebittimes.com/tag/hours.html">hours</a> ago.</p>
 <p>At that time, it began the day with a negative momentum before a bull takeover of the market pushed it to $4.00.</p>
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   <img decoding="async" width="1024" height="1024" src="https://cdn.thebittimes.com/images/2023/11/12/28b6e5a7f6e164fe551d75093288ac98.webp" alt="THORChain hits year-high, spikes more than 15% in last 24 hours - 1"> 
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   RUNE price chart | Source: CoinGecko
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 <p>The token has been on the up since THORChain’s third-quarter (Q3) 2023 report affirmed significant progress with milestones for the blockchain.</p>
 <p>During the period, THORChain achieved a 114.4% increase in total trading volume, hitting $2.38 billion, with liquidity fees collected reaching $3.38 million.</p>
 <p>The release of the report stirred an immediate reaction in the market, triggering an 89% surge in the price of RUNE. An important factor to note is that the global crypto market also gained traction around this time, with a significant positive driver being the forthcoming Bitcoin (BTC) spot exchange-traded fund.</p>
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 <p>Since mid-October, RUNE has grown by more than 212%. In the last fortnight, its price registered an 85.4% uptick and 37.2% over seven days.</p>
 <p>THORChain’s recent rally is also fueled by Thorswap’s remarkable trading volumes, securing its third-biggest DEX position. The network’s operations as a liquidity layer of last resort for centralized exchanges (CEXs) have also fueled its growth.</p>
 <p>RUNE’s upside journey began on Oct. 21, as it experienced a two-month consolidation at a strong support zone, leading to a breakout above the 20 DMA. This support level has since upheld an impressive +162% rally in the past month.</p>
 <p>Indicators signal a strong overbought condition for RUNE. Per Money Control, the RUNE RSI is hovering around 80, and the MACD shows a bullish level at 47.26, reflecting the current sentiment in the market.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/thorchain-hits-year-high-spikes-more-than-15-in-last-24-hours-tbt69970.html">https://thebittimes.com/thorchain-hits-year-high-spikes-more-than-15-in-last-24-hours-tbt69970.html</a></p>

THORChain hits year-high, spikes more than 15% in last 24 hours

TheBitTimes

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