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ThorChain Price at $7.35 after 21.6% dip – How to Buy RUNE

The last week of July was good for the crypto market, with bitcoin taking the lead with a recovery towards $40K. Most altcoins also recovered during this period. However, ThorChain had a rough patch during this time, following three hacks on its systems. Despite the ThorChain treasury stepping in to save the situation, RUNE was not spared from a fall. Nevertheless, RUNE is now showing signs of a strong recovery.

RUNE is trading at $7.35 at the time of writing after a 21.6% gain in 24 hours.

RUNE Price Analysis

RUNE Price Analysis Aug 3
Source: Tradingview

RUNE is currently one of the altcoins making massive gains this week. The weekly gains currently stand at around 85%. With most of the market facing resistance going to higher levels, RUNE has managed to show resilience, and traders are currently optimistic of a progressive bullish rally.

A continuation in the upswing could lead to the coin breaking out past $9. RUNE’s current upswing is a price correction from the exhaustive downtrend that happened after the hack; hence more bulls could be established.

RUNE could also trip because of a lack of market support or another negative development in the ThorChain ecosystem. In this case, RUNE will be headed towards a downtrend below $5. Reaching $2 is also a possibility. If this happens, traders will suffer massive losses, and the coin’s bullish gains this year could be erased.

ThorChain was a victim to three devastating attacks on its network last month. During the third attack, a hacker tricked the Bifrost protocol into sending a refund for a deposit they had not made, leading to an $8 million loss. However, liquidity providers affected by the hack were reimbursed from ThorChain’s treasury. The incident led to a sharp decline in Rune to around $4.

In late June, ThorChain also suffered another hack where $140,000 was stolen. This was followed by another one in late July, where around $5 million was stolen. Despite the heavy impact of the attacks, the ThorChain treasury and community have stepped in to save the situation.

Where to Buy RUNE

If you want to buy RUNE tokens, create a cryptocurrency exchange on a reputable platform such as eToro. eToro is one of the leading exchanges and supports multiple cryptocurrencies and trading pairs. It offers a wide range of tools such as copy trading and a demo trading account. eToro also charges low trading fees and has a user-friendly interface.

Looking to buy or trade ThorChain (RUNE) now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provide.

Source: //insidebitcoins.com/news/thorchain-price-at-7-35-after-21-6-dip-how-to-buy-rune

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Source: ThorChain Price at $7.35 after 21.6% dip – How to Buy RUNE

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