How THORChain Trading Impacts the Price of $RUNE
Many #THORChads eagerly watch $RUNE’s price, the native currency of THORChain, anticipating whether the token will experience a significant surge.
With users actively swapping RUNE and other tokens, the ongoing trading activity raises the question: What impact does this constant trading have on the price of the native token?
Table of Contents
Optimal Trading Periods on THORChain
Late October proved favorable for trading within the THORChain ecosystem. @thekakamora highlights that trading volume reached its peak around 4:00 AM on Nov. 1. Noteworthy spikes also occurred on Oct. 27 at 8:00 AM and again on Oct. 22, 2021.
#THORChads are most active, according to @thekakamora’s research, during 7 AM to 11 PM EST, indicating peak trading hours.
How THORChain Trading Impacts the Price of $RUNE
The extensive trading and swapping activities have a significant impact on the price of $RUNE. This becomes a crucial consideration, especially after heightened trading volume in late October and early November, coupled with subsequent disruptions in THORChain later in November.
Following the THORChain relaunch, an initial surge in $RUNE sellers, possibly reflecting diminished trust post-exploit, occurred. However, prices swiftly rebounded, and a subsequent shift showed a daily increase in buyers outnumbering sellers, indicating a restoration of confidence.
