$Rune bounced off $9. Still extremely underpriced, still extremely bullish

in LeoFinance3 years ago (edited)

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I dipped my toes into Polkadot and Thorchain a couple of months ago, while I think both are quite awesome projects, the amount of information that I've unintentionally come across concerning Thorchain have been nothing short of amazing.

You know those type of projects you want to follow because they seem to have massive potential but you end up not paying as much attention to due to the fact that you're already caught up with some other projects you're following because they have massive potential? Yeah, Polkadot and Thorchain are the top of this list for me.

I became a Thorchad about a month ago, by that I mean a Rune holder, I explained why in the link. At the time I had very little idea about the project but I knew it was a big deal, but not as much of a big deal as I think it is now and here's why.

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I'd read about DeFi all the way in mid 2020 and watched a ton of Defi protocols get ridden with bugs and rug pulls, we all know how quick bad news spread like wild fire, this instability in the nature of the protocol combined with the notorious transaction fees on Ethereum were enough to get me discouraged, my theoretical knowledge was stuck at just that, theoretical knowledge.

However, I was able to put a lot of that to use on Cubdefi, then it struck me that what I knew on paper was not half as interesting as what was being done in practice.

Gradually, as I spent more time exploring the Defi world in practice, all the light bulb moments I've had all along began to take shape and I slowly began to understand how a project like Thorchain fit into the puzzle.

As much as the world needs a decentralized monetary system, the system is incomplete without a decentralized means of moving the money around, a standard Dex.

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Thorchain is the decentralized exchange that aims to provide a protocol to bridge major native cryptocurrencys from different chains into one place. This means providing the ability to instantaneously swap between native crypto assets, that is, creating the possibility to swap native BTC for native ETH in one place as example.

Thorchain is a cross chain liquidity protocol. Liquidity pools are deposits which make it possible for traders to swap assets. One of the most appreciated implementations of Thorchain is the ability to use major native assets to provide liquidity unlike what we presently have where assets have to be wrapped on other exchanges before participating in the liquidity farms.

Thorchain reduces the risk from attack vectors arising from wrapping native assets into other platforms while also reducing outrageous gas fees compared to dex's on Ethereum like Uniswap and the others. One of the most anticipated implementations of Thorchain is the ability to pool native Bitcoin.

These features are unique to Thorchain and place it in a position to be an industry standard in my opinion, besides that, they just make Thorchain extremely more interesting than others.

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I bought 50 pieces of Rune at 3.5$ each. Today 1 Rune is worth around 8$ after bouncing off 9$. My Rune bag is now worth 400$. To be frank I thought getting in at 3$ was quite late,....compared to those who bought in at 0.5$ lol, now I see I'm way earlier than those will buy in at 8$ upward.

My projection for the Rune token is 20$ on an average. I admit there are definately more features in the works I don't know about that makes Thorchain stand out and prime for mass adoption, I will keep following the project as well as add to my bag when I can over the next couple of weeks-months...

Quarter 2 also presents an interesting time for Thorchain as the ThorFi will be going live. With Thorfi, lending is going to be enabled which will reduce sell offs of Rune tokens as users who need to sell can just borrow against their holdings instead. I find this bullish. Oh I havent even mentioned Thorchains impemernent loss protection feature!!!!! Lol.

What are your thoughts about Thorchain?

Thanks for reading...this is not a financial advice.

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Just picked up my first 40 Rune today, they have a great portal that's for sure!

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Great developers for sure and good marketing / promotion through Twitter.

Welcome Thor Chad 🙏

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Excellent! Now lets watch it double up from here. Nice to hear that. Goodluck with your bag....

I regret missing the RUNE train. I've first read of it from @khaleelkazi when it was about $0.60. It seemed over priced, looks like it wasn't and I know look like a looser... Sticking to my plan though and the holdings I've got. Exciting times ahead.

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Lol I do too....but I'm glad I got in at 3$ range.....I thought it was over priced as well. I like unique projects, hive is one, leofinance as well, and I think I just added Thorchain to the list. Appreciate your comment

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I got in at 3dollars too, tought it was overpriced like you. After buying being involved for over a month I can definitely say the project still is undervalued.

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Love to see that. Do you pool too?

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yuh I have almost 500 rune locked up. Impermanent loss keeps taking my rune away and is a constant struggle while the price is increasing haha.

I thought I saw somewhere it was mentioned that there's impermanent loss protection on Thorchain, I'm not sure how it works though...

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I got my first 40 RUNEs for $0.62 as @khaleelkazi mentioned it in his post in 2020. Now I got more with LPing on BEPswap.

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That's a good strategy to.

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Ahhh that's supercoool! I've not done the Lping yet tho... don't even know why, I will. Then I will become a first class citizen hehe

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I jumped at 1.2$ but sold too early around 5$. I guess Crypto is full of regrets haha 😂

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For some cases it is indeed full of regrets. Over all if you earned money than you don't have to have too many of them. The only one I know so far that has played this game like a pro is @empoderat. At least he disclosed some of his profits.

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Oh yeah ! He nailed it and has shown proof of it.

I am sure other Hivers have had the same results. Yes I am thinking about you @trumpman 😉

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How is this for a testimony, this is from khals post...3 months ago.
@acesontop

Ayeeee! That can hurt loool....will you be buying again?

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I looked at it few days ago and grab a profit only 0.5$ difference
From 6 to 6.5$
I wish I have waited

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Haha, I suggest you wait for a pull back to get in again, because I'm sure it will surpass its ath in no time. The project is one to keep an eye on

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hmm interesting. I will take a look. Sounds like a great project!

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Indeed it is...its very pivotal to DeFi as a whole, it offers a unique set of solutions

If they succeed $RUNE will be worth much more !

And their success is directly linked to the fate of DeFi as a whole.

Let’s hope regulators don’t shoot us done 😆.

Great article

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Exactly my point. You get me and you get it! Thank you!

I got in at about the same time as you did, because I heard many people on Leo talk about it and find the possibility to swap coins without wrapping them and drastically reducing the costs by doing so very exciting. I own 200 now and wanted to get more, but then CUB came along and some other stuff and my funds are limited, unfortunately... I will keep holding on to those for a while, that's for sure.

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200 is not a bad number at all, very nice....i see the project becoming a top 10, plus have you seen the thorchain interface? Its so sweet i could sleep in it

One of my faves - I bought quite a lot at $0.40 so I am very happy.

Pooled about a third on BEP and I've done OK out of that, no impermanent loss as what I've pooled with has generally gone up too.

I'm now gradually selling though, 20 times is good enough for me!

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Awesome strategy, youre one of the unique selected few who got in quite early. Perhaps ill just take little profits on the way up...but then again, why will i? If they continue innovating and delivering, it could be worth a lot more....

I'm a die hard holder of gems....when i find them....i guess this has its disadvantages😭

When I say sell, I bought 1000 and I've sold 5.

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Hahahaha amazing!!!!!!!I like that!

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Yeah, I have been trading and talking about RUNE alot lately. I agree with you sentiments. I have a little pooled but outside of that am flat, have an order sitting out at 7.70 than I'm hoping gets filled but this thing is so strong.

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Yep I’ve been following all of them, pooling is what is left for me to do now,then I will become a 1st class citizen 😌😎

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i Nedd to know where buy $RUNE

I want to join in the game, even if the rune is in $8, it really worth it

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It’s on Binance. That’s where I got mine

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I really wish I had gotten in on RUNE earlier. I remember hearing about it when it was around $0.70 USD ish if I remember correctly. I read into it and kept hearing about it and had seriously intended on shifting some attention over there but all in all I completely forgot about it.

It's definitely something I am going to start watching again and look to get in on a dip because I do believe it has a lot of potential to grow further. Thank you for reminding me and putting this back on my radar!

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. I read into it and kept hearing about it and had seriously intended on shifting some attention over there but all in all I completely forgot about it.

Yeah exactly what I was saying here....

“ You know those type of projects you want to follow because they seem to have massive potential but you end up not paying as much attention to due to the fact that you're already caught up with some other projects you're following because they have massive potential?”

😂

Glad I brought it back to mind

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