MetaMask’s recent integration with THORChain (RUNE) has stirred up the cryptocurrency market, leading to a noteworthy upsurge in RUNE’s price. In the last 24 hours, RUNE experienced a 9% price hike, which saw it trading at $1.89. This occurred following the announcement that MetaMask, a popular Ethereum wallet, has extended its support for THORChain, thus enabling self-custody swaps for users.
MetaMask and THORChain Integration: A Game Changer
The integration of MetaMask and THORChain is indeed a game-changer. It offers MetaMask’s extensive user base an opportunity to engage in self-custody swaps. This development could potentially revolutionize the protocol and contribute to the democratization of the crypto trading space. This integration has also sparked an upward trend in the value of RUNE, THORChain’s native cryptocurrency.
Impact on RUNE’s Market Performance
Following the announcement of MetaMask support for THORChain (RUNE), bullish investors seem to have gained increased confidence in RUNE. As per CoinMarketCap, RUNE’s price witnessed a surge of over 9% within a day. The 24-hour trading volume also showed a significant increase of more than 48% from the previous day, standing at $113,964,160. Additionally, RUNE’s performance against Bitcoin (BTC) also strengthened by about 9.21% over the day.
Over the past week, RUNE has climbed by 19.95%, with its market cap reaching $636,588,998. This surge has positioned RUNE as the 52nd largest cryptocurrency.
Future Predictions for RUNE
Technically speaking, RUNE’s price has been trading within a consolidation channel between $1.345 and $2.050 for the past two weeks. However, it is now attempting to break out above this channel. If RUNE manages to close a daily candle above $2.050, it could continue its upward trajectory to $3.010. Conversely, if RUNE faces rejection at this price point, it may correct down to the lower level of the price channel at $1.345.
For those who closely monitor market trends, the daily MACD line crossing below the MACD Signal line over the past 48 hours is a significant bullish technical flag. This suggests that RUNE’s trend has recently reversed from bearish to bullish.
Keeping track of these market fluctuations can be challenging, but with tools like cryptoview.io, you can stay up-to-date with real-time market data and trends. By leveraging such platforms, investors and traders can make more informed decisions.
