Table of content

THORChain: Everything you Wanted to Know as a Beginner before Investing!

THORChain token (RUNE) is one of the top 75 most popular cryptocurrencies currently. In terms of market cap, it is currently the 52nd largest digital currency (over US$3.56 billion in market capitalizations). Should you invest in it? Is it a good investment? To answer all your queries, let me walk you through the RUNE coin, how it works, and many more.

What is the THORChain token (RUNE)? How does it Work?

THORChain is a decentralized liquidity protocol that enables you to exchange crypto assets easily across a wide range of networks (crosschain liquidity). During this process, you don’t lose full custody of your cryptocurrency assets.

As a user, you can swap one crypto asset for another in a permissionless manner with the THORChain network. The best thing is that for sourcing liquidity (to keep a liquid network), you don’t have to rely on order books. The ratio of assets in a pool maintains the market prices.

RUNE is the THORChain platform’s native utility token. This token acts as the THORChain ecosystem’s base currency. As per the Sybil resistance mechanisms of THORChain, the RUNE coin is used for governance as well as security purposes on the THORChain platform. Participating in the rotating consensus process of the network, each node should commit at least 1 million RUNE tokens for node operations.

An initial DEX offering (IDO) funded the THORChain project. In July 2019, it was launched through the Binance DEX platform. However, the mainnet of the project was launched only in January 2021. Currently, a main-chain upgrade is scheduled for 2021. Its mainnet was originally launched in January 2021, but a multi-chain upgrade is currently scheduled for 2021.

The most interesting aspect of this platform is that there is no founder, no CEO, and no director. THORChain platform’s development is organized through Gitlab. A unique system is used by THORChain for mitigating impermanent loss issues experienced by a liquidity provider while contributing to liquidity pools. A slip-based fee is used to ensure that liquidity remains where it is required.

Cosmos ecosystem SDK has been used for building THORChain. The Tendermint consensus mechanism powers the platform. A novel BFT proof-of-stake (PoS) system is used for keeping the network safe and secure from all kinds of attacks. The novel BFT proof-of-stake (PoS) system involves a huge number of validators, who work in unison to propose and finalize transaction blocks. In addition, several 3rd party security firms audit the smart contracts of THORChain to keep the network safe and secure.

A wide array of novel technologies are used to seamlessly facilitate cross-chain token swap. Some of the major novel technologies used by the network are:

  • On-way state pegs
  • Astate machine
  • Bifröst Signer Module
  • TSS THORChain protocol

This combination of technologies makes the platform accessible to all traders, even the inexperienced ones.

Another interesting aspect of the THORChain platform is that it is not a profit-oriented one. All fees generated are used by the users. The team working on the project doesn’t have separate provisions. Just like everyone else, the team members can simply hold RUNE tokens and take advantage of price appreciation over time.

Currently, RUNE coins are available on multiple blockchains:

  • Binance Chain (as a BEP-2 token)
  • Ethereum (as an ERC-20 token)

The RUNE value is generated by these aspects.

THORChain token (RUNE): Facts & Figures

All these facts and figures (as of November 8, 2021) will help you to make a decision on investing in the THORChain token. Before making RUNE coin transactions, check out these facts and figures associated with this cryptocurrency of choice:

  • THORChain RUNE Price: US$13.79 (Current THORChain Price)
  • 24hour Trading Volume (24h Volume): US$89,115,090
  • All-Time High (ATH) Price: US$21.26 (reached on May 19, 2021)
  • All Time Low (ATL) Price: US$0.007939 (reached on Sep 27, 2019)
  • 24h Low: US$13.54
  • 7d Low: US$13.29
  • 30d Low: US$6.86
  • 90d Low: US$6.36
  • 52 Week Low: US$0.5597
  • YTD (Year-To-Date) Return: 967.75% YTD (Year-To-Date)
  • Market Cap: US$3,559,465,998 (US$ 3.56 billion)
  • Crypto Rank (in terms of market cap): 52nd in the crypto market
  • Fully Diluted Market Cap: US$6,904,858,839
  • Max Supply: 500,000,000
  • Total Supply: 461,668,422
  • Circulating Supply: 258,210,215.14 RUNE (52%)
  • Total Value Locked (TVL): US$370,973,029

These are the facts that make the RUNE coin a preferred medium of exchange. Always check out market data and technical analysis before trading or investing. Also, consult crypto financial advisors and get tips from them on trending coins and how to earn crypto easily.

RUNE Coin Price Prediction

  • According to Wallet Investor, the average price of RUNE is going to reach around:
  • US$20.025 by 2022-end.
  • US$35.458 by 2026.
  • According to DigitalCoin, the average price of RUNE is going to reach:
  • US$23.288188 by 2022-end.
  • US$59.9662065 by 2026.
  • According to GOV Capital, the average price of RUNE is going to reach:
  • US$25.624035 by 2022-end.

Where can you Buy THORChain tokens?

You can buy RUNE coins on almost all reputed cryptocurrency exchanges, including:

  • Binance
  • SushiSwap
  • FTX
  • KuCoin, and many more.

You can use credit cards, debit cards, or money transfers from a bank account to fund your cryptocurrency trading or investing account in a leading cryptocurrency exchange.

The most popular price pairs of RUNE are:

  • RUNE/USDT
  • RUNE/BTC
  • RUNE/USD
  • RUNE/BUSD, and many more.

Before investing, check out historical data of the token RUNE, crypto news, THORChain token price charts, price performance, market updates, RUNE to USD (United States Dollar) exchange rate, the value of RUNE, trading fees, and others.

What are the Best Crypto Wallets to Store RUNE Coins?

The best THORChain token wallets to store RUNE coins are:

  1. Ledger Nano X Wallet
  2. Ledger Nano S Wallet
  3. Trust Wallet
  4. Coinomi
  5. Trezor One Wallet
  6. Trezor Model T Wallet

Invest in THORChain token and Other Cryptocurrencies

You can buy and sell RUNE and other virtual currencies against various fiat currencies (US Dollar USD, British Pound Sterling, Canadian Dollar CAD, South Korean WON, Singapore Dollar, Taiwan Dollar, Russian Ruble, Chinese Yuan, Hong Kong Dollar, etc.) through a wide array of crypto exchanges (centralized or decentralized exchanges), crypto APIs or mobile apps, and THORChain token markets. Use the Dollar Cost Averaging DCA strategy to invest in cryptos to minimize the risks associated with high volatility.

If you want to increase your investment explosively in the coming 5-to-10 years, buy crypto coins now. Keep an eye on the market news, price statistics, block times, blockchain news, and others to time your trading of Defi protocols and tokens for maximum profit.

You can also diversify your crypto coin portfolio by including other digital assets such as RUNE, XMR, FIL, ETC, WBTC, BCH, BTC, AAVE, Ripple XRP, Bitcoin Ether ETH, Bitcoin Gold (also called Bit Gold), Bitcoin Cash BCH, Basic Attention Token, Ethereum Classic, Shiba Inu SHIB, Binance Coin, Wrapped Bitcoin (some also call it wrap bitcoin or wBTC), USD Coin, Gemini Dollar, ERC20 tokens (created on Ethereum blockchain), nonfungible tokens NFTs, and others.

Invest in cryptocurrencies, various types of stocks, mutual funds, index funds, real estate, and others to improve your personal finance. If possible, get help from a portfolio manager or wealth management firm for maximum return. You can also increase your income through yield farming, using telegram bots and other automated trading bots, and many more.

Invest in NapBots: A Dynamic Cryptocurrency Index

Whether you are a professional or retail investor, you can expose your capital to a diversified portfolio of digital assets & crypto asset classes by simply investing in NapBots. It is a smart crypto index service that introduces multifarious features and passive portfolio management strategies to enable cryptocurrency investors to streamline their trading experience in new ways.

NapBots provides you with various indices that include a basket of tokens with high market capitalization and is categorized by theme (such as Solana, NFT, DeFi, and others). This platform introduces an intuitive interface as well as advanced allocation tools to enable new investors to create and manage advanced crypto indices easily.

The best part of NapBots is that it tracks and executes trades automatically on the basis of your pre-set choices of indexes. The platform is very affordable as it enables you to start trading as low as US$150 with a monthly service fee of just 2.5%, which is far below the current rate of other cryptocurrency index providers. Therefore, NapBots reduces the financial barriers and at the same time eliminates the need for human intervention and the consequent human error.

Get started with crypto-asset investing by investing through napbots.com, a dynamic crypto index for expanding diversified exposure to bitcoin and leading crypto-assets with reduced financial barriers and no human error.