The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Altcoin Project THORchain Poised for Massive Rally, Predicts Coin Bureau – Here’s the New Price Target

by Daily Hodl Staff
October 29, 2021
in Altcoins

The pseudonymous host of crypto outlet Coin Bureau is sharing his price analysis on the altcoin RUNE, the native token of decentralized exchange protocol THORchain.

In a new video, the analyst known as Guy tells his 1.51 million YouTube subscribers that “the sky’s the limit” for RUNE as the crypto bull run plays out.

“As time goes on, cryptocurrency is starting to look like just another arm of the existing financial system. Everywhere you go, you need to provide KYC [know-your-customer]. Almost all of the services you use involve an intermediary and everything you do is tracked to a T.

This trend toward surveillance and centralization is concerning, to say the least, but luckily there are some cryptocurrencies which are working to keep this industry free. THORchain is arguably at the top of this list. And now that it’s back online, it’s high time to remind you all just how important this crypto project is.”

Back in June, THORchain was hacked several times for around $13 million. Developers took steps in August and September to “harden” the protocol, according to Guy. Now he sees RUNE’s price action reflecting positive sentiment.

“RUNE is rallying quite nicely and is quickly approaching its previous all-time high. This milestone should be easily reached, and that’s for three reasons.

Firstly, now that THORchain is back online it means more cryptocurrency will be added to THORchain’s various vaults. Because THORchain nodes must stake 1.5 times the value of RUNE for the value of the cryptocurrency in THORchain’s vaults, this creates buying pressure for RUNE as more crypto is deposited into these vaults.

Secondly, THORchain liquidity providers depositing the crypto into THORchain vaults must pool an equivalent of RUNE for those assets too, meaning they will also buy more RUNE.

And thirdly, users of THORchain’s various DEX [decentralized exchange] front ends must pay for all transaction fees in RUNE, which turns them into a third demand vector for RUNE.”

The crypto analyst next gives his price prediction for RUNE.

“In terms of how high we could go, I’ll reiterate that I really think the sky’s the limit for RUNE due to the insane value of what the THORchain protocol provides.

In my books, a realistic estimate for the remainder of this bull run is a 3- to 4x from here.

And the strong demand we’re seeing for truly trustless DeFi [decentralized finance] from Chinese crypto traders could take RUNE much higher.”

RUNE is currently trading at $13.74, according to CoinGecko. That’s close to its 7-day peak, but 34% below its ATH of $20.87 reached back in May.

I

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/zeber

Submit a Press Release

Industry Announcements

  • BestChange.com Revolutionizes Cryptocurrency Exchanges With User-Centric Features and Trusted Network
    October 2, 2023
  • Radix Babylon Upgrade Marks New Era for Web 3.0 User and Developer Experience
    September 28, 2023
  • Tyrion Set To Decentralize the $377 Billion Digital Advertising Industry
    September 25, 2023
  • Hydranet Launches Layer Three Dex – A Game Changer for Trustless Cross-Chain Trading
    September 25, 2023
  • Ottochain Homage to EVMOS and Ethereum Layer Two
    September 21, 2023
  • Algorand Foundation Announces Build-a-Bull Hackathon in Collaboration With AWS
    September 20, 2023
  • OKX Achieves SOC 2 Type II Certification, Demonstrating Its Industry-Leading User Safety, Security and Compliance Standards
    September 20, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$28,059.52
$28,059.52
3.49%
Ethereum
$1,689.93
$1,689.93
0.87%
Cardano
$0.264507
$0.264507
2.13%
XRP
$0.522298
$0.522298
1.11%
Dogecoin
$0.062686
$0.062686
1.01%

Spotlight

  • Bitcoin Flashing Relative Strength Against Stock Market Despite Deteriorating Macro Conditions: Analytics Firm
    September 25, 2023
  • Many Altcoins Won’t Recover After Massive Collapse, Says Crypto Analyst Benjamin Cowen – Here’s His Forecast
    September 25, 2023
  • Here’s When Bitcoin (BTC) May Print the Top of Its Post-Halving Bull Run, According to Crypto Strategist
    September 25, 2023
  • Ex-Goldman Executive Says Liquidity Injection Will Ignite Explosion in Crypto Space Amid Rapid Building
    September 25, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash • Financeflux •
Industry Announcements

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl