Some buzz has now surrounded ThorChain after new on-chain info dropped that might change the trajectory of RUNE, its native token. According to CoinGecko, RUNE’s trajectory is upward with a whopping 17% gain since last week. This shows that investors believe RUNE has long-term potential once the effects of its latest developments are reflected on the platform.
Word has recently spread that ThorChain might be integrated with OKX in the future. This significantly changed investor outlook on the platform as integration with OKX, a major centralized exchange, will be a big factor for RUNE’s movement in the future.
Big Things To Come In The Future For RUNE
According to X user Rayyk, the OKX has been using ThorChain infrastructure to facilitate transactions in recent months. Metrics-wise, OKX’s use of Thorchain is primarily in swaps, making the latter a vital part of OKX’s swap volume.
In Rayyk’s thread, OKX and ThorChain’s swap volume reached 20 million within just one week, showing ThorChain’s reliability despite the high volume. ThorChain’s capabilities in swaps involving Bitcoin complement OKX’s support for Bitcoin-based features like ordinals and BRC-20 tokens.
Word is out that @THORChain may be integrated into the @okxweb3.
This is huge because it is backed by @OKX, one of the top 3 CEX by volume.
As we await the official announcement, follow this thread to see how much volume OKX wallet has transacted with THORChain so far.
pic.twitter.com/CX0ZtbHKA6
— Rayyyk (@rykcrypt) August 14, 2024
Swell, a new staking platform, also recognized this capability. According to their announcement post about their newly launched swBTC, ThorChain will be used for native BTC swaps.
These are not the only things that ThorChain is currently involved with. In a recent interview, ThorChain lead @jpthor was asked about the platform’s new project. When asked about Tron’s possible integration, he replied: “Look, all I can say is a Telegram chat has opened, and once a Telegram chat is open, it is a group chat, it’s getting done.”
RUNE Will Continue To Rise Because Of These Factors
RUNE is currently on a great support level as it continues to rise amidst the bullishness the market is experiencing. At its core, the token is trading between the $3.5-$3.8 price range which may come in handy in the coming days.
RUNE will break through in the coming days as the hype continues to push investor confidence at its highest. With the market continuing its upward momentum in the coming days, investors and traders should be able to get massive gains.
The current trading range also opens up $4.4 for retaking in the long term. However, if the market does a reversal and loses the bullish momentum it has, RUNE might fall to the $3 price floor.
For now, investors and traders should be able to accumulate in the long term with open opportunities on-chain and on the market for massive gains.
Featured image from Pexels, chart from TradingView
