THORChain Price Overview
The current THORChain price is EUR. The price has changed by EUR in the past 24 hours on trading volume of EUR. The market rank of THORChain is based on a market capitalization of EUR. THORChain has a circulating supply of . The highest recorded THORChain price is EUR. And the lowest recorded RUNE price is EUR.
THORChain enables people to swap crypto assets across a range of networks through its decentralized liquidity protocol. The autonomous network uses an automated market maker to maintain market prices, rather than relying on order books to facilitate cross-chain token swaps. Users can also earn yield by depositing native assets into liquidity pools.
RUNE is the native utility token of the THORChain platform and is used for governance, liquidity, incentives, and network security. The THORChain price has seen dramatic change since it joined the crypto market and if you want to know why then you’re in the right place. We’ve compiled everything you need in order to get a better understanding of RUNE price – as well as the factors which influence it.
THORChain Price History
Following an initial decentralized exchange offering on the Binance DEX, RUNE began trading in July 2019 at about $0.02. No significant gains were made for the first couple of months and prices dipped below $0.01 at the end of September. October saw the first signs of bullish momentum and RUNE reached a peak of $0.13 in December. After a more than 60% pullback to $0.05, RUNE ended the year trading at $0.07, providing returns of about 325% since launch.
RUNE climbed throughout January 2020 and hit a high of $0.14 in February. Prices then quickly declined and RUNE bottomed out below $0.04 following a crash of more than 50% during a single day in March. Prices tripled over the next month and consolidated for the month after that, before the bulls prevailed at the end of May. The ensuing three month rally saw RUNE hit $1 for the first time and culminated in a peak of $1.21 at the end of August. After crashing back down to $0.32 in September and a volatile October, the positive trajectory resumed in November. RUNE was worth $1.17 by the year’s close, representing gains of about 1,570% since the start of 2020.
The bulls remained firmly in control in early 2021 as the THORChain market cap surpassed $1 billion for the first time in February and RUNE set a peak above $7 in March. After retracing by more than a third, prices continued to surge at the end of the month and headed towards $18 in April. Another significant pullback was followed by further upside which carried RUNE up to its all-time high of $22.14 on May 18. By that point, the THORChain market cap was nearing $5 billion. The very next day, RUNE shed more than half of its value and dipped to a low of less than $6 a few days later. A rebound then took prices back above $12 by the start of June.
Analyzing THORChain Price History
THORChain price history can be analyzed with many of the same techniques as the stock market. Technical analysis involves using various indicators while studying price charts in order to make sense of previous price movements. With RUNE, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of traders buy or sell their coins on exchanges.
Fundamental analysis, on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. THORChain raised over $1.5 million in its IDO and has been integrated by ShapeShift. The project employs a unique solution to the issue of impermanent loss and is launching a multi-chain address service called THORNames. These could potentially be good signs for the fundamental THORChain value.
Broader market trends have also played a role in the price history of RUNE. Its surge early in 2021 wasn’t unique – the entire crypto market pumped around this time. Bitcoin was in the midst of a major bull run then, and with such strong market dominance, any significant price movement for Bitcoin often impacts other cryptocurrencies.
RUNE’s huge single-day drop in March 2020 came as economies and borders were closing down around the world in response to the COVID-19 pandemic. The effect of this was felt by the whole cryptocurrency sector and the entire stock market, which experienced the biggest single-day crash since 1987.
The sudden crash in May 2021 was also market-wide, affecting every single major cryptocurrency. Various contributing factors have been suggested, including comments made by Elon Musk, a crackdown by Chinese authorities, liquidations, and a healthy market correction.
The overall price trend of RUNE tends to follow what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.
Factors Influencing The Price of THORChain (RUNE)
A variety of different things can affect the market price of RUNE, including project news and developments, the flow of assets on exchanges, public sentiment, and emerging trends in the wider crypto and global economies.
RUNE has a capped max supply of 500 million tokens, making it a scarce asset, like Bitcoin, and so potentially a good store of value in the long term. Once all tokens are in circulation, the constant supply will mean that any increase in demand for RUNE will raise its price.
Demand for RUNE is partly driven by THORChain nodes as they must commit a bond of about 1 million RUNE in order to join the network. A proportion of the tokens emitted by the THORChain protocol – currently set at 67% – is used to reward nodes, which could incentivize more people to buy large amounts of RUNE for bonding.
Another reason to hold RUNE is the governance rights it provides. This gives token holders some say in how the protocol is run, including deciding which new assets should be listed.
RUNE is the base currency of the protocol and so must be provided alongside every asset in the pools. Liquidity providers earn all the emitted tokens which don’t go to nodes, as well as gas fees. These rewards could encourage more people to buy RUNE and become a liquidity provider, especially as THORChain claims to eliminate the risk of impermanent loss. Also, at any given moment, THORChain validators must be staking RUNE worth twice as much as the total value locked by liquidity providers. This adds up to a lot of tokens effectively removed from the circulating supply.
As RUNE is bonded to the assets in the pools, it inherits their value. Thus as pooled assets rise in value, the THORChain value should increase as well. The more RUNE locked into the THORChain decentralized liquidity network, the more stable, transparent, and manipulation resistant its value becomes. Also, the deterministic value of RUNE is designed to be (3 * non-RUNE TVL) / RUNE’s circulating supply. The deterministic value becomes more accurate as more RUNE is locked into THORChain. This economic design means that if at least 80% of RUNE is locked into THORChain pools, the THORChain market cap should be at least three times the value of all non-RUNE assets locked into THORChain.
Finally, as the native currency of THORChain, RUNE is required to pay trading fees on the network. This means further demand for the token from traders on all THORChain-based DEXs. As THORChain expands its ecosystem and adds support for more blockchains, demand for RUNE could grow as a result, having a positive effect on RUNE price.
Live THORChain Value and Market Cap
The market price of RUNE varies from moment to moment as it’s dictated by the balance of buyers and sellers on exchanges, which is in constant flux.
Given RUNE’s volatility, its current price can change by a large amount in a very short space of time. The market cap of THORChain is equal to the price of RUNE multiplied by the number of RUNE in the circulating supply.
THORChain Price FAQ
What Is the Highest Price of THORChain in EUR?
THORChain price history shows that RUNE has recorded a peak value of EUR.
What Is the Lowest Price of THORChain in EUR?
Kriptomat data confirms that EUR is the lowest recorded THORChain value.
How Can I Buy THORChain?
There’s no need to consult an expert to tell you how to buy THORChain. It’s fast and easy to buy RUNE at Kriptomat. THORChain is available for immediate purchase at the current RUNE price quote of EUR. Current prices are always displayed in the RUNE chart.
What Is the Current Price of THORChain in EUR?
THORChain is available for immediate purchase at Kriptomat. The current price is EUR.
How is the price of RUNE calculated?
RUNE price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying RUNE than selling it, the price goes up, and when more are selling than buying, the price goes down.
Why is the price of RUNE different on each cryptocurrency exchange?
RUNE’s price is based purely on trading as there is no standard global THORChain price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affect the price.
What will RUNE be worth in the future?
It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future THORChain value. However, if at least 80% of RUNE gets locked into THORChain liquidity pools, the protocol’s economic design means that the THORChain market cap should be at least three times the value of all non-RUNE assets locked into THORChain.
The price of RUNE has seen dramatic change since it joined the crypto market, going from lows of under $0.01 to highs of more than $22. Its journey has rarely been smooth, however, as RUNE’s volatility has led to surges and crashes along the way.
Many different factors have played a role in determining the price of RUNE, including the amount of RUNE locked into the THORChain network, demand from users on THORChain-based DEXs, and trends in the rest of the cryptocurrency market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.
If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of THORChain and cryptocurrencies!