RUNE, the driving force behind the THORChain ecosystem, plays a pivotal role in ensuring network security and facilitating seamless crypto transfers across blockchains. But what is RUNE token? Is it a promising investment opportunity? In this blog post, we delve into THORChain (RUNE) token price predictions for 2023 and beyond, shedding light on its potential as an investment.

What is RUNE token?

THORChain is a reliable and cost-effective platform that enhances liquidity for investors. Built using the Cosmos SDK and powered by the Tendermint consensus mechanism, THORChain is available on multiple blockchains, such as Binance Chain and Ethereum. RUNE, the native token of THORChain, has seen a consistent rise in demand from investors. The protocol's digital roadmap puts the power in the hands of investors, providing liquidity opportunities. 

THORChain is backed by a talented team of researchers, engineers, and core developers known for their innovation and expertise. The protocol allows owners to govern their currency without third-party intervention or extra fees.

Another notable feature of THORChain is Wrapped THORChain, which combines the advantages of Ethereum ERC-20 tokens with the speed and cost-efficiency of THORChain. This digital currency offers users the benefit of a fixed value without inflation.

RUNE, the decentralised consensus of THORChain, empowers users to validate transactions without intermediaries. As a permissionless cross-chain liquidity platform, THORChain enables users to swap assets across multiple networks freely.

RUNE History

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THORChain, developed by an anonymous team at the Binance Dexathon in 2018, has made significant progress since its inception. In July 2019, the project raised $1.5 million through an initial DEX offering (IDO). The network introduced the multichain chaosnet (MCCN) in April 2021.

Here is a timeline of the key milestones and developments of the RUNE history:

• 8 June 2020: BEPSwap, THORChain's first public testnet, was launched.
• 10 July 2020: THORChain published the TSS whitepapers.
• 27 July 2020: Testnet 4.1 became operational on a new Binance Chain testnet, running on 10 community-run nodes.
• 11 November 2020: THORChain unveiled the public Bitcoin testnet.
• 3 June 2021: THORChain introduced the THORName service, a distributed, open, and extensible naming system.
• 28 July 2022: ATOM trading commenced on the mainnet.
• 26 September 2022: Edge Wallet integrated THORChain as a swap provider.
• 4 October 2022: The integration of the Avalanche C-Chain was completed.
• 15 November 2022: THORChain introduced Savers Vaults.
• 14 December 2022: Trust Wallet integrated THORChain as a cross-chain swap provider.
• 26 April 2023: Unizen completed its THORChain integration.
• 27 July 27, 2023: Streaming swaps were activated on THORChain.
• 21 September 2023: BNB Smart Chain was successfully added to THORChain.

THORChain Overview

In THORChain, liquidity pools are essential to the protocol, facilitating smooth and efficient token swaps across blockchains. These pools utilise a concept known as Continuous Liquidity Pools (CLPs), which function as automated market makers (AMM) and provide liquidity and real-time pricing for asset swaps. Each liquidity pool comprises two assets: the digital asset being traded and RUNE, which is the base asset for all pools. To maintain a 50-50 balance, liquidity providers must deposit an equal amount of RUNE alongside their assets when they contribute to a pool.

This requirement ensures that the pool remains adequately liquid and maintains price stability. As users execute trades, the pool balances adjust, changing the asset price based on the pool's constant product formula. This mechanism enables efficient and trustless asset swaps, eliminating the need for a centralised order book.

RUNE Whitepaper

According to the RUNE whitepaper, the THORChain Protocol incorporates numerous decentralised, capture-resistant, and sustainable innovations:

• The Capped Proof Of Bond validator selection ensures network decentralisation and a high Nakamoto Coefficient.
• The 3-Day Validator Churning prevents validator stagnation, demonstrates fund spendability, and facilitates network upgrades with minimal governance.
• Asynchronous Network Upgrades allow validators to upgrade to a new protocol version at their own pace, ensuring continuous network improvement without disrupting consensus.
• The Chain-agnostic Bifrost Protocol seamlessly connects UTXO, EVM, BFT, and Cryptonote chains, minimising core-logic differences.
• The Incentive Pendulum rewards Validators and Liquidity Providers to maintain a targeted Network Security ratio that safeguards funds.
• Continuous Liquidity Pools support single-sided liquidity provision and utilise liquidity-sensitive fees to resist price manipulation attempts.
• The Swap Queue prioritises swaps based on price impact within each block, effectively countering sandwich attacks and most forms of Miner Extractable Value (MEV).
• Liquidity Synths enable fast, low-fee swaps across L1 pools, empowering single-sided Savers. These Synths are a hybrid collateralised-pegged asset design that enhances liquidity.
• Derived Asset Collateral facilitates L1 lending by using the RUNE asset as underwriting, enabling interest-free, non-liquidation, and non-expiry loans.

THORChain Features

RUNE is used to stake and operate THORNodes responsible for securing the THORChain network. This ensures the network's stability and security.

Additionally, the RUNE token plays a significant role in the governance of the THORChain ecosystem. Token holders can participate in decision-making processes and vote on proposals that shape the platform's future development.

Regarding token distribution, the initial maximum supply of RUNE tokens was reduced from roughly 1 billion to 500 million in 2019. After this reduction, 44.09% of the tokens were distributed to service nodes, 10.4% was allocated for operational costs, 10% went to the community, and 10% was set aside for the team and advisors. The remaining tokens were held back for project funding. Currently, there are 335.93 million RUNE tokens in circulation.

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THORChain (RUNE) Price Analysis

At the time of writing this RUNE token price prediction on 19 October 2023, the crypto's price was $1.58, with a daily trading volume of $46,475,984. The token ranked #60 on CoinMarketCap, with a market cap of $534,832,554, a circulating supply of 339,064,002 RUNE, and a maximum supply of 500,000,000 RUNE.

RUNE crypto price statistics (as of 19/10/23)

THORChain price history

RUNE entered the market in 2019 with a value of $0.01577. It experienced fluctuations, but by the end of the following year, it reached $1.17. In early 2021, it reached an all-time high of $21.26 but later crashed and spent the summer at lower levels. It briefly recovered in November at $17.26 before ending the year at $6.80.

In 2022, the overall crypto market has been unfavourable, and RUNE has followed suit. It reached a high of $13.15 in March but fell to a low of $1.45 in June due to market crashes. It recovered slightly to $3.14 in August, but a crash occurred in November, bringing it down to $1.01. As of 2 December 2022, it is valued at around $1.34.

Based on the token's performance as of 19 October 2023, RUNE has struggled to keep up with other cryptocurrencies, experiencing a decline of approximately 8.55% in the last 7 days. Although the token has strong fundamentals, it may not be a profitable short-term asset. In September 2023, it lost an average of $0.11. 

Over the past 90 days, the price of RUNE has changed by approximately 12.55%, ranging from a minimum average price of $1.73 to a maximum average price of $1.79. In the last 4 months, THORChain has shown a growing trend, indicating popularity in the market during that period. The trading volume of THORChain has increased, which plays a vital role in its price. The token has seen an 11.80% increase, with a maximum average price of around $1.40 and a minimum average price of around $1.38 in the past 4 months.

RUNE/USDT price chart

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RUNE technical analysis

Based on data from 19 October 2023, the general sentiment regarding THORChain (RUNE) token price prediction is bearish. The technical indicators suggest that THORChain's 200-day Simple Moving Average (SMA) will increase in November 2023, reaching $1.387285 by 17 November 2023. Additionally, the short-term 50-day SMA is projected to reach $1.742214 by the same date. 

The Relative Strength Index (RSI) is currently at 38.43, indicating a neutral position in the RUNE market. According to the classical pivot point (P1) for 19 October 2023, valued at $1.567011, THORChain has support levels at $1.497289, $1.456746, and the strongest support at $1.387023. Similarly, the resistance levels for THORChain are $1.607554, $1.677277, and $1.717820.

RUNE coin price in 2023

2023 may bring a new era for the crypto market, indicating a potential surge in the RUNE coin price. Optimism remains high, as increased attention towards this currency is anticipated. By the end of 2023, the average price of the RUNE token is projected to reach $2.01, with a minimum value of $1.94. Additionally, the maximum price could reach approximately $2.09.

Is THORChain a good investment?

THORChain is considered a favourable investment by numerous experts and traders. The consistent increase in value further supports this claim, ensuring a promising return on investment.

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RUNE token price prediction 2023-2050

The price of THORChain's RUNE token has shown a consistent upward trend in the market. Despite the volatile nature of the cryptocurrency world, factors such as strong security protocols and advanced algorithms greatly influence the value of investments. Based on this knowledge, let's consider RUNE token price predictions for 2023 and beyond.

WalletInvestor RUNE token price prediction for 2023, 2025, 2030, 2040 and 2050 

Based on WalletInvestor's RUNE forecast, the token is predicted to be an unfavourable choice for long-term investment. The token is expected to decline to $0.17 by the conclusion of 2023. The situation does not improve in 2025, as the token's price is forecasted to decrease even further to $0.1. However, in 2028, a slight increase is projected for the RUNE coin price, reaching $0.3.

CoinCodex RUNE forecast for 2023, 2025 and 2030

According to CoinCodex's THORChain (RUNE) forecast, the price of THORChain is expected to drop to $1.519611 by 23 October 2023. The RUNE coin price prediction 2025 ranges from $1.638094 to $4.45. The RUNE coin price prediction 2030 ranges from $0.759370 to $2.02. 

Price Prediction RUNE coin price prediction for 2023, 2025 and 2030

According to Price Prediction, the THORChain token is expected to reach an average price of $1.47 and a maximum price of $1.64 by the end of 2023. The RUNE forecast also suggests that the price may drop to a minimum of $2.24 in 2025. The projected maximum price for THORChain is $2.69, with an average forecast of $2.30. Looking further ahead, the RUNE coin price is predicted to reach a minimum level of $15.87 in 2030, while the maximum price could reach $18.34, with an average of $16.43 throughout that year.

GOV Capital RUNE coin prediction for 2023, 2025 and 2030

According to GOV Capital, THORChain has been displaying an upward trend. Analysts predict the asset's price will reach $5.7 by the end of 2024. According to the resource, the RUNE coin price prediction 2025 is $9.18 by the end of the year. $15.81 is the RUNE forecast for 2026. By the end of 2027, the price of THORChain is anticipated to increase to 21.43.

RUNE forecast in general

Multiple THORChain (RUNE) forecasts provide varying outlooks. 

• WalletInvestor predicts a decline to $0.17 by 2023 and $0.1 by 2025, slightly increasing to $0.3 in 2028. 
• CoinCodex forecasts $1.52 by October 2023, $1.64 to $4.45 in 2025, and $0.76 to $2.02 in 2030. 
• Price Prediction estimates $1.47 in 2023, $2.24 in 2025, and $15.87 to $18.34 in 2030. 
• GOV Capital sees a positive trend, with predictions of $5.7 by 2024, $9.18 in 2025, and $15.81 in 2026, rising to $21.43 by 2027. 

How high can THORChain (RUNE) go?

THORChain (RUNE) could potentially reach a price of $1.09 by the end of this year. Long-term projections suggest that the coin has the potential to surpass the $5.05 mark in the next five years.

RUNE coin price prediction today

As of 19 October 2023, the RUNE coin price prediction today is $2.03. For December 2023, the average price is predicted to be $2.53, with the lowest price being $2.35 and the highest price reaching $2.70.

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