Crypto Drama: RUNE’s Daring Leap Amid Bybit’s Misadventures! 💸

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Oh, darling! RUNE, the darling token of THORChain, has decided to throw caution to the wind and leap a staggering 22% in just 24 hours! At this very moment, it’s prancing around at $1.63, with a market cap that would make even the most seasoned investor swoon—$574 million! This delightful surge comes amidst a rather gloomy market, following a jaw-dropping 300% increase in DEX trading volume over the last month. Who knew liquidity could be so… exhilarating? 💃

Now, let’s talk numbers! The RUNE token trading volume is strutting its stuff at a fabulous $1.2 billion, while DefiLlama reports a rather unfortunate drop in total value locked (TVL) since late December. Currently, our beloved THORChain TVL stands at a respectable $211 million. But fear not! Despite this dip, the DEX volume has skyrocketed by 300% to a staggering $667.73 million in the past week. It seems the party is just getting started! 🎉

THORChain, Bybit Hack, and TCY Debut

Now, let’s not mince words—THORChain has been under a bit of scrutiny following the recent escapade involving the illustrious crypto exchange Bybit, which lost a staggering 499K ETH. The hackers, those cheeky devils, laundered a jaw-dropping $250 million using the blockchain protocol. Could this be the reason for our DEX trading volume’s sudden popularity? One can only speculate! 🤔

Market participants on X (formerly Twitter) have been rather vocal, expressing their doubts about THORChain’s decision not to freeze the hacked funds. One particularly witty user remarked that THORChain must be “thrilled” while laundering the money, as it might just help them pay off a rather staggering unserviceable debt of $200 million to their users. Oh, the irony! 😂

This debt, my dear friends, arose from THORChain shutting down its THORFi services in late January. To remedy this financial faux pas, the protocol has announced the debut of the TCY (Thorchain Yield) token, with a total supply of 200 million tokens. Rumor has it, they’re looking to establish a RUNE/TCY liquidity pool with over $500,000 starting at a mere $0.1 per TCY, funded by a generous $5 million from the treasury. How positively generous! 💰

Despite the Bybit debacle, THORChain remains a popular darling in the digital asset world. One user on X (formerly known as Twitter) pointed out that things are looking up. Once THORFi users are made whole again, the focus will shift back to the development of THORChain. “With no more emissions, inflation is no longer a concern,” they added, with a wink. How charming! 😉

RUNE Price Analysis

According to the daily chart provided by TradingView below, the Relative Strength Index (RSI) for RUNE’s price action reads a rather balanced 50.98. It appears the bulls and bears are having a delightful dance-off! However, the gradient suggests that higher prices could be just around the corner. How thrilling! 🎢

Source: TradingView

Meanwhile, the price action of RUNE, currently at $1.58, is breaking out of the upper end of the Bollinger Bands. The resistance at $1.56 has been shattered! If this level transforms into support and the lower levels of $1.32 and $1.09 hold, investors might just see this altcoin making a fabulous move towards $2 in the near future. How positively delightful! 🌟

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2025-02-26 21:46