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THORChain Convert Debt into Equity: What about RUNE Holders FateTHORChain ( CRYPTOCAP:RUNE ) has taken a bold step to address its $200 million debt crisis by converting unserviceable debt into equity through a new token, TCY (Thorchain Yield). This strategic move follows the suspension of THORFi services on January 23, 2025, due to financial instability. While this decision aims to stabilize the ecosystem, the market response has been mixed, with CRYPTOCAP:RUNE experiencing sharp volatility. THORChain’s Debt-to-Equity Move The newly introduced TCY token will be issued at a rate of 1 TCY per dollar of defaulted debt, effectively turning affected lenders and savers into equity holders. To further support this transition, THORChain plans to create a RUNE/TCY liquidity pool with an initial $500,000 backing, pricing TCY at $0.10 per token. Additionally, TCY holders will receive 10% of THORChain’s revenue indefinitely, providing a long-term recovery mechanism. Despite these efforts, concerns linger regarding the timeline for full financial recovery. However, THORChain’s core functionality—cross-chain swaps—remains intact, ensuring continued utility for its users. Market sentiment, however, reflects uncertainty, as seen in CRYPTOCAP:RUNE ’s price action. Technical Outlook: Can CRYPTOCAP:RUNE Recover? Following the debt-to-equity announcement, CRYPTOCAP:RUNE has exhibited mixed performance. Initially, it plunged 10% within 24 hours, extending its 30-day decline to nearly 50%, in line with the broader market downturn. However, as of the latest data, CRYPTOCAP:RUNE is showing signs of recovery, posting an 11% gain and trading within a moderate zone. Key Levels to Watch: - Relative Strength Index (RSI): Currently at 38, indicating potential oversold conditions and a buying opportunity. - 38.2% Fibonacci Retracement Level: The $3.58 price mark aligns with this critical resistance; a breakout above this level could fuel a bullish rally. - 1-Month High Target: If momentum sustains, CRYPTOCAP:RUNE could push towards $5, the next major resistance level. Conclusion THORChain’s move to convert debt into equity is a double-edged sword. While it provides a structured approach to managing financial challenges, investor confidence remains uncertain. The success of the TCY token will heavily influence market sentiment around CRYPTOCAP:RUNE in the coming weeks. As the market digests this pivotal restructuring, all eyes remain on CRYPTOCAP:RUNE ’s price action and the effectiveness of THORChain’s recovery strategy.
Long
by DEXWireNews
THORChain Drops Nearly 30% Amidst 90-day Suspension of THORFiTHORChain ( CRYPTOCAP:RUNE ), a leading cross-chain liquidity protocol, has taken a severe hit, tumbling nearly 30% in 24 hours. This sharp decline follows the announcement of a 90-day suspension of THORFi lending services, igniting fears about the project’s financial stability. Let’s dive into the technical and fundamental aspects to understand the implications. What Happened? THORChain’s decision to pause THORFi lending services comes amid mounting financial uncertainties. Developers have initiated a 90-day restructuring plan aimed at stabilizing the platform. Key issues include: 1. Debt Overload: - THORFi’s "Savers and Lending" programs accumulated significant unserviceable debt. - Borrowings during lower BTC price levels created a shortfall, requiring the minting of CRYPTOCAP:RUNE to cover obligations. 2. Liquidity Concerns: - Allegations of insolvency stem from insufficient Bitcoin reserves in lending pools. - The lack of liquidation mechanisms worsened the financial strain. 3. Market Perception: - Community members fear parallels with Terra/Luna’s infamous collapse in 2022. - Synthetic assets backed by CRYPTOCAP:RUNE face increased scrutiny due to their reliance on liquidity pools for collateralization. Despite these challenges, THORChain’s founder remains optimistic, stating that restructuring will allow the protocol to service its debt and restore stability. Technical Outlook: What’s Next for CRYPTOCAP:RUNE ? At the time of writing, CRYPTOCAP:RUNE is trading at $2.01, down 21% in the last 24 hours, with an RSI of 28.61, signaling oversold conditions. Key Levels to Watch: - Support: The 1-month low of $1.93 serves as critical support. A breach below this level could trigger a selling spree, pushing CRYPTOCAP:RUNE further down. - Resistance: The nearest pivot point lies at the 38.2% Fibonacci retracement level, a potential target for recovery if market sentiment improves. Trading Opportunities: - Short-Term: Traders may capitalize on the oversold conditions for a potential bounce, especially as CRYPTOCAP:RUNE attempts to recover from the sharp decline. - Long-Term: With the altcoin season expected in early March, analysts view this dip as an entry point for investors with a high-risk appetite. Is This a Buying Opportunity? While the current situation paints a grim picture, it also presents a window for traders to enter at discounted levels. The ongoing restructuring plan and the anticipated altcoin season could drive a recovery in CRYPTOCAP:RUNE ’s price. However, caution is advised. The protocol’s financial health remains uncertain, and any further negative developments could exacerbate the decline. Conclusion THORChain’s current turmoil underscores the challenges faced by DeFi projects relying heavily on native tokens for collateralization. While the 90-day suspension of THORFi services aims to stabilize the platform, the road to recovery will depend on successful restructuring and improved market confidence. For now, CRYPTOCAP:RUNE ’s oversold status and support at $1.93 offer short-term trading opportunities, but long-term investors should remain vigilant. The next few months will be critical in determining whether THORChain can emerge stronger or succumb to its financial woes.
by DEXWireNews
RUNEUSD Is preparing a major bullish moveTHORChain (RUNEUSD) has been trading within a Channel Down pattern since the June 13 2022 (weekly) low inside a longer-term Bearish Megaphone since the May 17 (weekly) High. The 1W LMACD is close to forming a Bullish Cross. If completed, the short-term target will be the 1D MA200 (red trend-line). A break above the 1W MA50 will further be a bullish break-out signal, targeting the top (Lower Highs trend-line) of the Bearish Megaphone. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
BINANCE:RUNEUSDLong
by TradingShot
3
Update 29/3/22: Thorchain (RUNE) 420% gain back to the ATH Since the 13 Ema crossed up above the 21 sma signalling a strong buy signal on the Daily, Thorchain (RUNE) has gained 250%+ from the Buy Zone @ $3.44 to the current price @ $12.29. Thorchain (RUNE) is now only 71% gain from the ATH @ $21.09. Our current Thorchain (RUNE) price targets from the current price: 127.20% fibs @ $26.01 (111% Gain) 161.80% fibs @ $32.27 (163% Gain) 261.80% fibs @ $50.38(308% Gain) 423.60% fibs @ $79.61 (545% Gain) LFG!!!🚀
Long
by CryptocurrencyMagnet
rune THORChainRUNE UPDATE CHART What Is THORChain (RUNE)? THORCHain is a decentralized liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks without losing full custody of their assets in the process. With THORChain, users can simply swap one asset for another in a permissionless setting, without needing to rely on order books to source liquidity. Instead, market prices are maintained through the ratio of assets in a pool (see automated market maker). The native utility token of the THORChain platform is RUNE. This is used as the base currency in the THORChain ecosystem and is also used for platform governance and security as part of THORChain's Sybil resistance mechanisms — since THORChain nodes must commit a minimum of 1 million RUNE to participate in its rotating consensus process. THORChain was funded through an initial DEX offering (IDO) which launched through the Binance DEX in July 2019. Its mainnet originally launched in January 2021, but a multi-chain upgrade is currently scheduled for 2021.
RLong
by Cryptonix-Empire
2
RUNEUSDT , We should be conscious for buyingGood morning guys Today we analysed one the powerful project in crypto that name is ThorChain In here we had a rally that started from long days ago and now after new breakwave we need to have pullback to the area that we broken We had a little pullback but its not enough for continuing the way and in abou 17$ is the place of settlement for traders and in here in buy zone area we can buy and take long position until the 1st target reach and after it can break successfully the 1st Tp the others one is in our way In buy zone area we need to take signal in multi-time frame like 4h - 1h - 15mins - 5 mins and ... After we take signal like hammer or ascending cover or pattern price we can take position and put our stop loss as same as we shown on chart Becareful because maybe the price should come down to stop hunter the buy position below that hammer that made If you have any question just send us a message Be with us and reign Good Luck Abtin
Long
by Abtin00
⚔ RUNE smashing levels-broadening wedge-- There are still 3 hours left for this daily candle to close, so in case it breaks out of the wedge I will update this idea later. -- After forming a double bottom under 200EMA on daily chart, yesterday the price smashed right through both moving averages and the key level of 9.23 finally reaching the top of the broadening wedge formation where it faced strong rejection. It would be healthy price action if we saw a pullback to retest the daily dynamic resistance as well as key level (9.23) But keep in mind even though RUNE is now trading above all major resistances it is still inside of a descending formation. Entry: average buy 9.70 - 8.40 -- or wait for breakout from the formation (buy above 10.5 on a local pullback) TP1: 10.57 TP2: 12.91 TP3: 16.82 TP4: 21.29 (~130%) TP5: OPEN++
Long
by V0VOLAN
Thorchain (RUNE) Bottom @ $2.98, 200% gain back to ATH @ $21.09Thorchain (RUNE) Update 19/10/21: Bottom @ $2.98, 200% gain back to ATH @ $21.09. Rune price targets from the current price level: 127.20% at $26.01 (259% Gain) 161.80% at $32.27 (346% Gain) 261.80% at $50.38 (600% Gain) 423.60% at $79.68 (996% Gain) Please see previous analysis below. Happy trading :) Thorchain (RUNE) Bottom @ $2.98 05/10/21: Thorchain (RUNE) Bottom found @ $2.98 on the 20th July, expect 200 MA retest and break above this key level @ $8. We expect RUNE to retest the ATH level over the next few weeks/months. From the 31st March until the crash on May 19th (48 Days), Rune rallied 167% from $7 to $21.27. Rune is on course to recover to previous Highs experienced during March, April, May as the 13 EMA crossover above the 50 SMA signals strong bullish momentum (Swing Call Script Activated). We have been buying the bottom since the crash for Rune between $3-$7 with long targets back to the ATH @ $21.27, 200% Gain from current price level. This will not be a straightforward push back to the ATH but we can expect 2-3 different push phases.
Long
by CryptocurrencyMagnet
👨‍🎤🎸 The RUNE, the Rune, the rune is on FIRE 🤘⚔️Professor is in a GOOD mood today. I know a break-out when I see it and Rune is the next potential break-out. I am listening to this by the way: www.youtube.com 👨‍🎤🤘 thorchain.org for fundamentals, if you don't know the project already. Market Cap at 2,3 Billion can easily reach 5 billion given to what is happening in comparison (ICP at 13 for example...why?) One Love, Let's PUMP IT UP party people! the FXPROFESSOR
Long
by FX_Professor
2
Thorchain (RUNE) Bottom @ $2.98, 200% gain back to ATHThorchain (RUNE) Bottom found @ $2.98 on the 20th July, expect 200 MA retest and break above this key level @ $8. We expect RUNE to retest the ATH level over the next few weeks/months. From the 31st March until the crash on May 19th (48 Days), Rune rallied 167% from $7 to $21.27. Rune is on course to recover to previous Highs experienced during March, April, May as the 13 EMA crossover above the 50 SMA signals strong bullish momentum (Swing Call Script Activated). We have been buying the bottom since the crash for Rune between $3-$7 with long targets back to the ATH @ $21.27, 200% Gain from current price level. This will not be a straightforward push back to the ATH but we can expect 2-3 different push phases.
Long
by CryptocurrencyMagnet
RUNE 12h Project Overview and Long-Term Purchase LevelsTHORChain (RUNE) is a decentralized liquidity protocol or, more simply, Defi exchange. Quite a young project since 2019, but the launch of the main network took place in early 2021. The cost of the RUNE token should be based on the price of $0.90-1 , exactly this price was before the launch of the main network. And then the RUNEUSDT trading pair grew rapidly to $21 The May correction in the crypto market also affected the value of RUNE, falling by 80% . A lot, but all cryptocurrencies have gone through this. Another question is that not all crypto projects survived after this. The picture on the RUNEUSDT chart looks pretty positive. During the entire fall, increased volumes were observed, there are investors who are ready to buy at a lower price. Given these facts, it is hard to believe that the RUNEUSD price will drop below $4 in the near future, we more believe in a rebound to $8.5 The planned for Q3 2021 mainnet update (DEX cross-chain / ASGARDEX wallet) also adds a positive impact. However, it is worth keeping in mind an alternative scenario , if the entire crypto market goes significantly lower, then the RUNEUSD price will not hold either. Below $4 per RUNE will open the way for a fall to $1.60. _______________________________ Since 2016 , we have been analyzing and trading the cryptocurrency market. We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05% . If we help you to be calmer and richer - help us to be happier :)
by P_S_trade
31