The THORChain (RUNE) token has seen a steady recovery accompanied by rising buy volumes in the past 24 hours
The THORChain token has jumped by 10% and is currently trading at $7.39 at the time of writing. The token has seen a steady price recovery over the past 24 hours and the coin could 2X from the current price levels if the bulls can sustain this current price rise. The RUNE token has also seen a steady increase in volumes which is usually a sign of whales accumulating the coin silently.
How & where to buy THORChain in the UK and elsewhere
If you’re interested in trading the RUNE token, then you will need to create an account on a broker/exchange platform. The entire process is easy and all you need to do is provide a username, password and email address. The site will ask for additional information to verify your account as part of the Know Your Customer (KYC) regulations. You can submit copies of documents such as a driving license and utility bill to comply with the KYC rules. Once done, 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 a native token called RUNE. The RUNE coin has many functions inside the network. It is used as a governance token, is required for staking purposes and validators can also earn rewards in the form of RUNE coins. The RUNE coin is deflationary by design as the transactions fees are burned regularly. This could potentially result in a huge price rise for the token in the future.
Should I buy RUNE today?
The THORChain token has a strong support zone at the $7.2 level and if the volumes keep building up, the coin could then target the $12 region which is a zone of strong resistance. The coin has the potential to rally further if the bull run can be sustained in the short term. The early users of RUNE could be rewarded with handsome gains if the token rallies in the future.
This article is informational only—none of the contents should be construed as financial or investment advice.