RUNE owes its previously bullish performance to confidence due to the organic growth that the network has achieved so far this year.is the latest blockchain to walk down that path as it celebrates a new growth milestone for its ThorWallet DEX.According to the official announcement, Thorchain’s ThorWallet DEX’s total volume recently surpassed the $200 million milestone.
RUNE owed its previously bullish performance to confidence due to the organic growth that the network has achieved so far this year. Its $2.26 peak at the start of October was the highest price point that it has achieved so far in 2023.RUNE has been trading sideways for the last few days, and this is quite significant. It either means that the bears have lost their momentum or that RUNE holders are unwilling to sell below the press time price level.
The latter suggested that traders were still heavily optimistic about RUNE’s future prospects at the time of writing. On-chain data revealed that RUNE is still in a low-volume phase at press time, which was in line with the sideways price action. This was also reflected in the Open Interest in USD per Exchange, which was at its lowest point in the last 30 days.While RUNE was experiencing its slow phase, the Thorchain network has something else going for it. Development Activity in the network has been rising, especially since the start of October.
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