2021 was a roller coaster of a year for THORChain (RUNE), which saw its price top out at $20.31 only to come crashing down below $4 as a series of hacks and declining interest in decentralized finance had the token limping into 2022.
Data suggests that investors could be taking a closer look at Rune and a few potentially bullish factors could include the protocol’s recent integration with the Terra and Cosmos ecosystem, an upcoming mainnet launch and the attractive yields offered to liquidity providers.
RUNE/USDT 4-hour chart. Source: TradingView
Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $3.00 on Feb. 24, the price of RUNE has rallied 74.2% to a daily high at $5.23 on March 1 amid a 388% surge in its 24-hour trading volume.
Rune integrates with Terra
One development that has excited the RUNE community is the integration of Terra (LUNA) into the THORChain protocol. This integration also enables the platform to support all Cosmos-based projects.
To clear up any uncertainty: The Terra integration is complete.
We’re now working with @TerraSCV to review the integration before pushing things.
Once we receive the green light and handle any comments, $UST and $LUNA will be live on @THORChain. https://t.co/DsTw1qbUDV
— Nine Realms (@ninerealms_cap) March 1, 2022
Terra integration brings LUNA token, along with the TerraUSD (UST) stablecoin to the THORChain ecosystem and gives users more trading and staking options.
THORChain now supports six wallet types and eight blockchains on its THORSwap cross-chain decentralized exchange. THORChain is also in the process of adding support for Haven and Monero.
Wallets and blockchains supported by THORSwap. Source: Twitter
As part of the rollout for Terra and the Cosmos SDK, THORChain will be updated via a hard fork, which will be fully tested in the testnet and followed by further testing in Stagenet after the Terra launch and on ChaosNet before the mainnet launch.
Bulls anticipate the next…
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