46 [THOR]
Insights
We need to look at the price in the following phases:
- Launch - Initially, the price skyrockets to nearly $20 as everyone FOMOs into newly launched cross-chain DEX.
- Up to May 18 - The price of RUNE follows general market trend with the BTC price crashing around May 18th. The price crashes from a peak of $18 USD to $7 USD. Before this crash the number of swaps and the price was on an upward trend. After the price of the crash, the number of swaps increases. This is likely users swapping out of the RUNE token into stables.
- May to July - Between this period the price continues to fall but the number of swaps reaches a new peak. This is likely because the users are pulling liquidity out of the platform as the news of THORChain hacks is made public.
- September Relaunch — This is the time-period when THORChain started operations again. After a period of stable price, the price starts moving upward in the last few weeks of October. This is perfectly correlated with the swap volume hitting a daily all time high of nearly $60 Million USD.
- Post November - Post-November, the price of RUNE has been on a sharp decline as RUNE follows the general Bitcoin downtrend. As Bitcoin slides down from it's all-time-high of 69K, the RUNE price also falls. With the January 2022, the price has again taken a significant decline while the number of swaps and swap volume has remained relatively same since November 2021.
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