•THORChain token RUNE price risks a decline or a stall after a 60% weekly rally.
•The uptrend came on the back of heightened activity on the THORSwap exchange.
•Streaming Swaps, introduced in late July, might have propelled the DEX.
THORChain Token RUNE Price Risks Decline or Stall
The THORChain token RUNE is currently trading at $1.56 after a 15% daily rise and an overall 60% weekly increase. However, despite this surge, there is risk that the price could soon decline or stall due to a decrease in volume and overbought conditions on the Relative Strength Index (RSI).
Heightened Activity on THORSwap Exchange
Activity on the native decentralized exchange THORSwap has been increasing lately, with Total Value Locked (TVL) rising 24% from last month and reaching $62 million on Aug 15th. In addition, Trading Volumes for the entire THORChain network exceeded $73 million — an 8-month high — potentially due to Streaming Swaps being introduced in late July.
Streaming Swaps Feature
The Streaming Swaps feature allows users to get better pricing execution by splitting large transactions into smaller ones. This provides users with more flexibility when it comes to time-optimized versus price-optimized swaps.
Risk Of Short-Term Stall
Despite these fundamental developments pushing up prices, there is still risk of prices stalling in the short term as volumes have declined recently and RSI readings are indicating “overbought” conditions.
The recent surge in prices of THORChain token RUNE has been supported by increased activity on its native decentralized exchange THORSwap as well as its new Streaming Swaps feature providing users with more flexibility when it comes to making trades. Despite this positive development there is still risk of short-term stagnation as volumes have declined and RSI readings indicate “overbought” conditions.