THORChain’s RUNE Tanks 32% After THORFi Platform Paused

• RUNE faces significant bearish pressure, with support at $2.00 critical for stability.
• THORFi’s rebranding adds to market uncertainty, with low liquidity and weak sentiment.
• RUNE’s price recovery hinges on reclaiming $2.25 resistance, with downside risks.

THORChain’s recent pause of its THORFi platform and the subsequent 32% drop in RUNE’s price have sparked significant concern in the crypto market. The sharp decline, coupled with increased trading volume, has led many to question the future of THORChain and its ecosystem.

THORChain (RUNE) Faces Sharp Drop

RUNE, the native token of THORChain, has experienced a significant price drop, falling by 31.28% in the last 24 hours. The price currently stands at $2.12, with a market cap of $744.4 million. 

The 24-hour trading volume has surged by 93.51%, reflecting panic selling. The sharp decline suggests strong bearish sentiment, likely fueled by the recent pause of THORFi, which could have unsettled investors.

Key support levels for RUNE include $2.00, which is a psychological threshold. If this level is breached, further declines could lead to a test of $1.80 and $1.50. 

On t…

The post THORChain’s RUNE Tanks 32% After THORFi Platform Paused appeared first on Coin Edition.