Rune gets wrecked

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Get Wrecked...

  • There are plenty of people panicing over the debacle at Thorlend and some are selling all their RUne.
  • They are selling at a loss, and some are happy to get whatever they can get for their Rune and some are calling a failed project.

Rune's Price Chart looks pretty bad right now...

This chart of one year shows Rune price is very far down from it's one year high of Ten Dollars

This one month price chart shows Rune price is down far from it's price one month ago oof 4.68

This one wek price chart of Rune shows it losst 50% of it's market cap in a week and hit 2.00 and bounced to 2.87, but it is falling again and some think it will hit 1.90

What happened?

  • Rune is the utility or gas token for Thorswap, the cross chain swap exchange, decentralized, which has been doing hundreds of millions of volume.
  • But decided to expnd into Lending with Thorlend, but it was paying deposits based on being Long RUne and short all other assets. This was great when the price of RUne was rising, which it did for 2 years. But when it started falling, it became a problem, and recently Thorlend found itself 200 million dollars in debt because of Thorlend. So it froze withdrawals and the investors panic sold their Rune and it crashed from over 4 dollars to 2 dollars, before people started buying up cheap Rune.

There's blood in the streets.

  • A famous trader is often quoted for saying Buy when there is blood in the streets, even if it's your blood.
  • So on the positive side Thorchain did over a billion dollars in volume in 2024, which means in theory they should be able to payoff this 200 million dollar debt.
  • And if you believe that you probably should buy Rune now, wile it is on sale.
  • But there's a risk that the project could fail and the Rune token could go to Zero ot some other very small number.
  • It's a gamble for sure to catch a falling knife, when you don't have the financial strength to stop it's fall, you are just going along for the ride.
  • Some will take the plunge now and use all their capitol at 2 dollars, others will buy some every day or every week or every time there is a price drop.
  • I think it all depends on your risk tolerance.
  • What do you think?

Posted Using INLEO

hive-126009 rune thorchain thorlend gems pal leofinance brk ocd
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19 comments
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Rune seems to be on the road to collapse. Will it ever come up again considering all these losses?

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I think that is an important point of consideration.
I look at the cause: rug pull or market sentiment change, here it was the later.
Do they still have superior technology and are they increasing in utilization and revenue? The answer to all three is yes; Thorchain has superior, cutting edge technology for decentralized cross blockchain trading, the Holy Grail of cryptocurrency, and they had a swap or trading volume of 1 billion in 2024, an increase over 2023. I think it is a risky play, but one which will pay off at least 2x if not 5x longterm

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A famous trader is often quoted for saying Buy when there is blood in the streets, even if it's your blood.

Yes, Nathan Rothschild. I tend to apply this more to stocks and shares though. In the crypto world, rug pulls, scam coins and such are much more prevalent.

In stocks, NVDIA is available with a nice haircut on price currently is a good example of taking advantage of the blood on the street. Deepseek is afterall still using NVDIA GPUs...

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Good Point: I agree that in crypto, the blood from rug pulls must be distinguished from blood from panicked sellers making paper losses real.

Good Example: I think NIVIDIA is the perfect example of a good candidate for buying the dip from bad news and expecting "mean reversion" to come into play, but that is my opinion.

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Well I like buying low, but I never got in Rune... Maybe I will now

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