The Kujira team plans to develop a new THORChain app layer in the wake of the 'Rujira' merge. This comes at the same time as the DeFi Network Kujira announces its merger with THORChain, forming the 'Rujira Alliance' and indicating the creation of a new native token. Nonetheless, concerns are raised as a hard fork of THORChain falls short, leaving questions about the recovery of the RUNE from a 70% drop. In contrast, THORChain engages in a productive collaboration with Fireblocks directed towards enhancing cross-chain liquidity.
Amidst these developments, the price of THORChain (RUNE) climbs by an impressive 28%, sparking predictions of short-term and long-term targets of $8 and $54 respectively. SwapKit's strategic partnership with LI.FI, enabling THORChain's integration for native asset swaps should be noted. Meanwhile, Bonk and THORChain break key resistance, causing speculations about potentially significant future profits.
Notably, incentives for investing in THORChain (RUNE) are increased, as the platform introduces a new lending protocol. LI.FI integrates THORChain and there is a surge in Thorchain loans with weekly flows of $100M. This pronounced activity coincides with a favourable price jump of 10% for Thorchain (RUNE), despite a broader market slump.
Finally, the promise of Thorchain's growth is reinforced by the proposal of a burning of $300M in RUNE, aiming to 'scale lending', and also by the platform boasting a record number of 510k users and $71 billion volume. Nevertheless, the crypto market remains volatile and analysts are careful to balance their optimism with caution.
THORChain News Analytics from Thu, 19 Oct 2023 10:07:49 GMT to Wed, 11 Sep 2024 16:33:12 GMT - Rating 5 - Innovation 3 - Information 4 - Rumor 1