RUNE becomes top gainer amid Binance withdrawal suspension

RUNE, the native utility token of the THORChain decentralized liquidity protocol, has emerged as the top gainer among the top 100 cryptocurrencies, while Binance partially suspended the asset's withdrawals. RUNE gained 7.

Timeline of Thorchain

Using decentralized finance to take on USD-denominated debt without paying any interest seems like a pie-in-the-sky concept, but it appears that at least one such decentralized lending mechanism already exists.

In a recent stride towards financial inclusivity, THORChain (RUNE), the trailblazing liquidity network, has unwrapped its innovative lending feature. This breakthrough empowers users to leverage their native Layer-1 (L1) assets—among them Bitcoin (BTC) and Ethereum (ETH)—to obtain loans denominated in TOR, a stablecoin equivalent to the USD.

In a recent development, THORChain (RUNE), the liquidity network, has unveiled its lending feature, enabling users to leverage their native Layer-1 (L1) assets, such as Bitcoin (BTC) and Ethereum (ETH), to secure loans denominated in TOR, a USD equivalent stablecoin. According to the announcement, this move opens up new avenues for financial participation, allowing users to borrow funds without the “burdens” of interest, liquidations, or expiration.

Decentralized exchange (DEX) THORChain (RUNE) flashes momentum following its recent launches. The highly-awaited THORChain lending protocol and Streaming Swaps functionality present a significant game-changer for the crypto project, enhancing usage and adoption. THORChain's latest functionalities have helped native RUNE defy the current downside market trends.

THORChain's RUNE rallied by 22% in the last week, making it the asset with the biggest price uptick during that period. However, as accumulation pushes its way into the overbought territory, is the token at risk?

Cross-chain decentralized exchange (DEX) THORChain is strengthening fundamentally with recently facilitated functionality driving adoption and usage. Furthermore, streaming swaps on THORSwap appear to be pushing RUNE prices higher as they defy the broader crypto market.

As the broader cryptocurrency market plunged over the past week, THORChain's RUNE stood out as an exception, surging ahead with a remarkable, bullish rally. Amid a sea of red, RUNE defied the downturn, demonstrating a striking resilience against the bearish wave that has engulfed the market.

While most cryptocurrencies in the market witnessed significant selling pressure over the last seven days, THORChain's RUNE walked a different path. Will RUNE be the one to escape the wrath of the bears?

A crypto trader is updating his outlook on one altcoin that is soaring this month as the broader digital assets market dips. Pseudonymous trader Altcoin Sherpa tells his 196,300 X followers that the decentralized cross-chain liquidity protocol THORChain (RUNE) has more room to run after a bounce off of a key Fibonacci retracement level.

Within the dynamic cryptocurrency environment, THORChain (RUNE) has emerged as a notable altcoin, capturing the interest of investors who are actively pursuing methods to augment the diversification of their investment portfolios. In conjunction with the established entities such as Bitcoin and Ethereum, the cryptocurrency market has experienced significant growth with a diverse range of alternative coins, each presenting unique attributes and prospective prospects.