The THORChain (RUNE) token has steadily recovered over the past 24 hours, accompanied by increasing purchase volumes
The THORChain token has risen by 10% and is currently trading at $7.39 when we write this article. The token has seen a steady price recovery over the past 24 hours and the coin could increase twenty-fold from the current price level if the bulls can maintain this current price increase. The RUNE token has also seen a steady increase in volumes, which is usually a sign of whales accumulating the coin quietly.
How and where to buy THORChain in Germany and elsewhere
If you are interested in trading the RUNE token, you will need to set up an account with a broker/exchange platform. The whole process is simple and all you need to do is provide a username, password and email address. The Website will ask you for additional information to verify your account under the KYC (Know Your Customer) regulation. You can submit copies of documents such as driver’s license and utility bill to comply with KYC regulations. After that, the platform will activate your account and you can deposit funds to start trading.
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What is THORChain?
The THORChain network is a liquidity protocol powered by its own token called RUNE. The RUNE Coin has many functions within the network. It is used as a governance token, is required for staking, and validators can also earn rewards in the form of RUNE Coins. The RUNE coin is deflationary from the outset, as transaction fees are regularly burned. This could lead to a huge increase in the price of the token in the future.
Should I buy RUNE today?
The THORChain token has a strong support zone at $7.20, and if volumes continue to rise, the coin could then target the $12 region, which is a zone of strong resistance. The coin has the potential to recover further if the bull market can be sustained in the short term. The early users of RUNE could be rewarded with sizable profits if the token recovers in the future.
This article is for informational purposes only – none of the content should be construed as financial or investment advice.