THORChain Price Prediction, will RUNE’s price hit $3.15?
THORChain’s price at the same time last week was $1.82. It has moved by -8.77% in the past week and is currently at $1.72. Infact, in the past 24 hours, RUNE has dumped by -2.56%. There is a slight bearish sentiment in the crypto market. The long term sentiment, however, remains bullish and RUNE could hit $2.76 in 2024.
The total circulating supply of THORChain as of writing this article was $300,700,561 and the marketcap of RUNE remains at $518,278,262.
Disclaimer
For some coins with little to no data points and inexistent historical data the model by default will show a positive price prediction. There is no way for our AI bot to decipher whitepaper, tokenomics and team integrity. The coin's price that you are about to see below can fall drastically depending on many factors, so please invest wisely after checking the team and project's whitepaper. This current price prediction is done by a machine crunching numbers and the model is still in the early beta stages. It should strictly not be taken as an investment advice. Although the best engineers are currently tweaking and updating the algorithm, no human has verified the price predicted below, so please use your discretion and make a decision wisely.
About THORChain
THORChain (RUNE): An overview
Source: THORChain/Medium
THORChain (RUNE) is a decentralized liquidity protocol that enables users to easily exchange digital assets across various blockchains without the need for a centralized exchange or intermediary. Built using the Cosmos SDK, it leverages the benefits of the Cosmos ecosystem, such as interoperability and scalability, to provide a seamless and efficient trading experience.
The goal of THORChain is to create a permissionless, trustless, and non-custodial trading environment, allowing users to maintain full control of their funds throughout the process. THORChain serves as a vital settlement layer, enabling seamless swaps across a diverse array of eight chains, which include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Binance Chain (BNB)
- Avalanche (AVAX)
- Cosmos Hub (ATOM)
- Dogecoin (DOGE)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
RUNE
Source: THORChain/Twitter
RUNE serves as the native utility token of the THORChain ecosystem. It plays a crucial role in its functionality and security and performs several functions, including:
Collateral for liquidity pools: RUNE is used as collateral in the continuous liquidity pools (CLPs) to facilitate cross-chain asset swaps.
Incentivizing liquidity provision: Liquidity providers are rewarded with RUNE for depositing assets into the CLPs. These rewards incentivize users to contribute liquidity and support the growth of the THORChain ecosystem.
Securing the network: RUNE is used to stake and operate THORNodes, which are basically the validator nodes responsible for securing the THORChain network.
Governance: The RUNE token also plays a role in the governance of the THORChain ecosystem, allowing token holders to participate in decision-making processes and vote on proposals that shape the future development of the platform.
The initial maximum supply of RUNE tokens was roughly 1 billion, but this was cut down to 500 million in 2019. Following this reduction:
- 44.09% of the tokens were distributed to service nodes.
- 10.4% was set aside for operational costs.
- 10% went to the community.
- 10% was allocated to the team and advisors.
The remaining tokens were held back for project funding. At present, 335.93 million RUNE are in circulation.
How does THORchain function?
Source: Thorchain.org
In THORChain, liquidity pools are the backbone of the protocol, allowing for seamless and efficient token swaps across different blockchains. These pools utilize a concept called CLPs that act as automated market makers (AMM), providing liquidity and real-time pricing for asset swaps.
Each liquidity pool consists of two assets: one being the digital asset being traded and the other being RUNE, which serves as the base asset for all pools. When liquidity providers deposit assets into a pool, they are required to deposit an equal amount of RUNE to maintain a 50-50 balance.
This ensures the pool remains sufficiently liquid and maintains price stability. As users execute trades, the pool balances change, leading to a change in the asset price according to the pool's constant product formula. This mechanism allows for efficient and trustless asset swaps without the need for a centralized order book.
There are four main roles for network participants in THORChain:
Liquidity providers: These participants supply assets to the liquidity pools, earning rewards in the form of trading fees and RUNE emissions. By depositing assets, liquidity providers enable the protocol to offer deep liquidity and accurate pricing, which in turn attracts more users to the platform. Providers can withdraw their assets at any time, giving them full control over their funds.
Swappers: Swappers are users who perform single-chain or cross-chain asset swaps on the THORChain network. They interact with the liquidity pools to exchange one asset for another, paying a fee for the swap. This fee is distributed to liquidity providers as a reward for supplying assets to the pools.
Traders: Traders are similar to swappers but utilize advanced trading strategies and take advantage of arbitrage opportunities to profit from price discrepancies. They contribute to the price discovery process and help maintain market efficiency within the ecosystem.
Validator nodes: Validator nodes, or THORNodes, are responsible for securing the THORChain network by validating transactions and maintaining the protocol's integrity. These nodes are required to stake a significant amount of RUNE to participate in the network, creating a strong financial incentive for them to act honestly. Node operators receive a portion of the trading fees and RUNE emissions as a reward for their efforts in securing the network.
Consensus mechanism
THORChain leverages Tendermint Byzantine Fault Tolerance (BFT) as its consensus mechanism, providing a secure and reliable system. It further strengthens its defenses against sybil attacks by using the proof-of-stake (PoS) algorithm.
In this PoS system, validators stake RUNE tokens to operate network nodes and authenticate transactions. THORChain enables token holders to delegate their tokens to these validators, a feature that not only ensures validators' accountability but also entitles the delegators to a share of the rewards from each mined block.
THORChain’s journey
Source: Thorchain.org
THORChain was created in 2018 by a group of anonymous developers at the Binance Dexathon. In July 2019, the project raised $1.5 million in an initial DEX offering (IDO). The network launched the multichain chaosnet (MCCN) in April 2021.
Here’s a timeline of its journey and major developments so far:
- June 8, 2020: THORChain's first public testnet—BEPSwap, went live for the community.
- July 10, 2020: THORChain published the TSS whitepapers.
- July 27, 2020: Testnet 4.1 was ready and running on 10 community-run nodes on a new Binance Chain testnet.
- November 11, 2020: THORChain unveiled the public Bitcoin testnet.
- June 3, 2021: THORChain launched a distributed, open, and extensible naming system called THORName service.
- July 28, 2022: ATOM trading went live on the mainnet.
- September 26, 2022: Edge Wallet integrated THORChain as a swap provider.
- October 4, 2022: The integration of the Avalanche C-Chain was completed.
- November 15, 2022: Savers Vaults went live on THORChain.
- December 14, 2022: Trust Wallet integrated THORChain as a cross-chain swap provider.
- April 26, 2023: Unizen completed its THORChain integration.
- July 27, 2023: Streaming swaps were activated on THORChain
- September 21, 2023: BNB Smart Chain was successfully added to THORChain.
RUNE Price Analysis
In the financial landscape of RUNE during the period from September 2022 to September 2023, it was evident that bearish investors found abundant opportunities to capitalize on their positions.
Despite this, bullish traders were unyielding in their efforts to influence the market trajectory, striving hard to establish their dominance. By the end of the analyzed period, RUNE was trading at $1.786.
RUNE Weekly Chart
Diving deeper into the price action, RUNE showed commendable resilience as it valiantly attempted to challenge the overarching bearish sentiment. The resistance level at $1.95 proved to be a formidable barrier, repelling the price twice when it tried to breach this threshold.
The significance of this resistance was underscored by the recurring retests, with the market collectively pondering if the bulls would eventually manage to eclipse this level. This level is presently under retest, and only time will tell whether the bulls will emerge victorious this time.
In the aftermath of these retests, the support at $1.44, once thought to be sturdy, was replaced by a lower level at $1.08. The descent of RUNE's price to a low of $0.82 could have demoralized many, yet it seemed to have the opposite effect on the bulls.
Galvanized into action, they marshaled their resources, aiming to shift the market's direction. Their efforts were palpable as the price began its ascent northwards, suggesting a potential trend reversal.
Analyzing the trading volume of RUNE during this period offered additional insights. For the most part, trading activity remained muted from September 2022. However, a resurgence in volume was observed in August 2023, coincidently aligning with the price surge.
This uptick in volume could be interpreted as a validation of the renewed bullish sentiment, indicating that the market was giving more weight to this upward move.
The Relative Strength Index (RSI) also painted an interesting story. A consistent reading below the neutral 50 line for the larger portion of the analyzed period was a testament to the prevalent bearish sentiment.
Despite the RSI's valiant efforts in Q1 2023, where it nearly touched the neutral zone, it was evident that the selling pressure was yet to abate fully. The subsequent attempts in April were similarly thwarted. It was only in August 2023, with the RSI surging past the neutral zone to reach 62.61, that the bulls appeared to have finally gained an edge. At the conclusion of our analysis, the RSI stood firm at 60.00.
Lastly, the On-Balance Volume (OBV) presented its narrative through its oscillations. While there were alternating rises and falls, August 2023 marked a discernible upward trajectory, followed by another smaller peak. This implied that the volume of RUNE being purchased was outpacing the volume being sold, a bullish sign in its own right.
Should you consider buying RUNE?
While the dominant trend for the year remains bearish. The recent increase in trading volume, the RSI maintaining above the 50 line, and the upward trend in OBV all suggest that the bulls might be in a position to extend their influence.
For those considering entering a long position, targeting a buying range of $0.7 to $0.9 could provide a favorable risk-reward ratio.
THORChain Price Prediction
THORChain has had an eventful 2021. To simplify the latest RUNE price prediction, we have divided up the prediction by short term THORChain price prediction and long term THORChain price prediction. As of writing this article, RUNE had a trading volume of $48,960,150. THORChain has gone up by 11.64% in the past 30 days.
According to our analysis in the short term, THORChain price prediction for November 2023 shows the average price of RUNE at $2.57 and the highest possible price for November 2023 would be $2.75.
Further, according to our analysis in the long term, THORChain price prediction for March 2024 shows the average price of RUNE at $2.43 and the highest possible price for March 2024 would be $2.60.
THORChain's Short Term Price Prediction
| Date | Avg Price | Lowest Price | Highest Price |
| 24 Sep 2023 | $2.16 | $2.00 | $2.31 |
| 25 Sep 2023 | $2.11 | $1.96 | $2.25 |
| 26 Sep 2023 | $2.07 | $1.92 | $2.21 |
| 27 Sep 2023 | $2.02 | $1.88 | $2.16 |
| 2 Oct 2023 | $2.20 | $2.04 | $2.35 |
| 7 Oct 2023 | $2.32 | $2.16 | $2.48 |
| 17 Oct 2023 | $2.47 | $2.29 | $2.64 |
| November 2023 | $2.57 | $2.39 | $2.75 |
| December 2023 | $2.62 | $2.44 | $2.80 |
THORChain price prediction 24 Sep 2023: THORChain’s price for 24 Sep 2023 according to our analysis should range between $2.00 to $2.31 and the average price of RUNE should be around $2.16.
THORChain price prediction 25 Sep 2023: THORChain’s price for 25 Sep 2023 according to our analysis should range between $1.96 to $2.25 and the average price of RUNE should be around $2.11.
THORChain price prediction 26 Sep 2023: THORChain’s price for 26 Sep 2023 according to our analysis should range between $1.92 to $2.21 and the average price of RUNE should be around $2.07.
THORChain price prediction 27 Sep 2023: THORChain’s price for 27 Sep 2023 according to our analysis should range between $1.88 to $2.16 and the average price of RUNE should be around $2.02.
THORChain price prediction 2 Oct 2023: THORChain’s price for 2 Oct 2023 according to our analysis should range between $2.04 to $2.35 and the average price of RUNE should be around $2.20.
THORChain price prediction 7 Oct 2023: THORChain’s price for 7 Oct 2023 according to our analysis should range between $2.16 to $2.48 and the average price of RUNE should be around $2.32.
THORChain price prediction 17 Oct 2023: THORChain’s price for 17 Oct 2023 according to our analysis should range between $2.29 to $2.64 and the average price of RUNE should be around $2.47.
THORChain price prediction November 2023: THORChain’s price for November 2023 according to our analysis should range between $2.39 to $2.75 and the average price of RUNE should be around $2.57.
THORChain price prediction December 2023: THORChain’s price for December 2023 according to our analysis should range between $2.44 to $2.80 and the average price of RUNE should be around $2.62.
THORChain's Long Term Price Prediction
THORChain’s long term Price Prediction below is a look at RUNE’s future prospect with regards to price. THORChain was last seen at $1.72, with a market cap of $518,278,262 and trading volumes of $48,960,150. RUNE’s price prediction is possible by analyzing historical price action, current developments and social sentiment from the community.
| Years | Avg Price | Lowest Price | Highest Price |
| 2023 | $2.62 | $2.10 | $3.15 |
| 2024 | $2.30 | $1.84 | $2.76 |
| 2025 | $3.08 | $2.46 | $3.69 |
| 2026 | $4.12 | $3.30 | $4.95 |
| 2027 | $5.53 | $4.42 | $6.63 |
| 2028 | $7.41 | $5.92 | $8.89 |
| 2029 | $9.92 | $7.94 | $11.91 |
| 2030 | $13.30 | $10.64 | $15.96 |
| 2031 | $17.82 | $14.26 | $21.38 |
| 2032 | $23.88 | $19.10 | $28.65 |
| 2033 | $32.00 | $25.60 | $38.40 |
| 2034 | $42.88 | $34.30 | $51.45 |
THORChain price prediction 2023: THORChain’s price for 2023 according to our analysis should range between $2.10 to $3.15 and the average price of RUNE should be around $2.62.
THORChain price prediction 2024: THORChain’s price for 2024 according to our analysis should range between $1.84 to $2.76 and the average price of RUNE should be around $2.30.
THORChain price prediction 2025: THORChain’s price for 2025 according to our analysis should range between $2.46 to $3.69 and the average price of RUNE should be around $3.08.
THORChain price prediction 2026: THORChain’s price for 2026 according to our analysis should range between $3.30 to $4.95 and the average price of RUNE should be around $4.12.
THORChain price prediction 2027: THORChain’s price for 2027 according to our analysis should range between $4.42 to $6.63 and the average price of RUNE should be around $5.53.
THORChain price prediction 2028: THORChain’s price for 2028 according to our analysis should range between $5.92 to $8.89 and the average price of RUNE should be around $7.41.
THORChain price prediction 2029: THORChain’s price for 2029 according to our analysis should range between $7.94 to $11.91 and the average price of RUNE should be around $9.92.
THORChain price prediction 2030: THORChain’s price for 2030 according to our analysis should range between $10.64 to $15.96 and the average price of RUNE should be around $13.30.
THORChain price prediction 2031: THORChain’s price for 2031 according to our analysis should range between $14.26 to $21.38 and the average price of RUNE should be around $17.82.
THORChain price prediction 2032: THORChain’s price for 2032 according to our analysis should range between $19.10 to $28.65 and the average price of RUNE should be around $23.88.
THORChain price prediction 2033: THORChain’s price for 2033 according to our analysis should range between $25.60 to $38.40 and the average price of RUNE should be around $32.00.
THORChain price prediction 2034: THORChain’s price for 2034 according to our analysis should range between $34.30 to $51.45 and the average price of RUNE should be around $42.88.
A Historical look at THORChain, RUNE’s price:
RUNE/USD Pair
RUNE/EUR Pair
FAQs about THORChain
THORChain’s current price is $1.72 and witnessed a -2.56% decrease in the past 24 hours. RUNE/BTC pair saw a -2.33% decrease in the past 24 hours.
Investing in THORChain, RUNE will purely depend on your personal risk appetite. As you can see over the past 24 hours THORChain’s price has witnessed a -2.56% decrease and over the past 30 days THORChain has increased by 11.64%. So it all depends on if this investment will hit your trading goals.
According to our latest THORChain Price prediction for 2023, RUNE should vary between $3.15 and $2.10 Please keep in mind that the crypto market is very volatile and this THORChain price prediction does not account for extreme wild swings in price.
As per the THORChain price prediction undefined model above, RUNE’s price for undefined should range between $undefined to $undefined with the average price for undefined being $undefined.
According to the THORChain Price Prediction model above, RUNE’s price in 2024 would be $2.30. This price would however would range from $2.76 and $1.84.
According to the THORChain Price Prediction model above, RUNE’s price in 2025 would be $3.08. This price would however would range from $3.69 and $2.46.
According to the THORChain Price Prediction model above, RUNE’s price in 2026 would be $4.12. This price would however would range from $4.95 and $3.30.
According to the THORChain Price Prediction model above, RUNE’s price in 2027 would be $5.53. This price would however would range from $6.63 and $4.42.
According to the THORChain Price Prediction model above, RUNE’s price in 2028 would be $7.41. This price would however would range from $8.89 and $5.92.
According to the THORChain Price Prediction model above, RUNE’s price in 2029 would be $9.92. This price would however would range from $11.91 and $7.94.
According to the THORChain Price Prediction model above, RUNE’s price in 2030 would be $13.30. This price would however would range from $15.96 and $10.64.
According to the THORChain Price Prediction model above, RUNE’s price in 2031 would be $17.82. This price would however would range from $21.38 and $14.26.
According to the THORChain Price Prediction model above, RUNE’s price in 2032 would be $23.88. This price would however would range from $28.65 and $19.10.
According to the THORChain Price Prediction model above, RUNE’s price in 2033 would be $32.00. This price would however would range from $38.40 and $25.60.
According to the THORChain Price Prediction model above, RUNE’s price in 2034 would be $42.88. This price would however would range from $51.45 and $34.30.
The highest price for THORChain was recorded in 19th May 2021 during which RUNE hit an All Time High of $20.87
The price of 1 THORChain according to current market rate is $1.72
