This is why I invested in RUNE
I'm very new to Hive and to the crypto universe as a whole. In fact, I only really started in crypto when I joined Hive earlier this year. Back then I really wanted to take the first step and actually buy some crypto so I could really feel like I belonged and so I started reading a bunch of Leo articles searching for a good token to kick off my crypto career. And that was when I was lucky enough to find about Rune.
Before I tell more about why I like RUNE so much, though, let me take a step back.
What is RUNE?
Rune is the native token of the THORChain, which is, according to their documentation:
a decentralised cross-chain liquidity protocol based on Tendermint & Cosmos-SDK and utilising Threshold Signature Schemes (TSS). It does not peg or wrap assets, it simply determines how to move them in response to user-actions.
THORChain observes incoming user deposits to vaults, executes business logic (swap, add/remove liquidity), and processes outbound transactions. THORChain is primarily a leaderless vault manager, ensuring that every stage of the process is byzantine-fault-tolerant.
THORChain's key objective is to be resistant to centralisation and capture whilst facilitating cross-chain liquidity. THORChain only secures the assets in its vaults, and has economic guarantees that those assets are safe.
I haven't really explored the full potential of THORChain yet, but it's something I'm slowly getting myself into. However, RUNE alone, as an asset, has been interesting enough for me.
Why do I invest in RUNE?
As I said before, RUNE was the first token (other than BTC) that I bought and because of that, it's kinda become a "pet token" of mine. I know that investing based fully on emotional factors is a bad idea but that's not the case at all here. Because I was lucky enough to get in relatively early, RUNE was responsible for my first 10x in crypto, which obviously contributes a lot to my fondness for the project.
RUNE has strong numbers to back it up, as we'll see next.
RUNE in numbers
RUNE currently has a market cap of $3,240,344,282 and a dominance of 0.18%. It's reached an All-Time High of $20.87 on May 19, 2021. As pretty much all of crypto, it took quite a big hit in the last few days, dropping all the way back to around $6.
It has been recovering well, however, and it was priced at $12.55 when this post was written.
What does the future hold for RUNE?
Well, we're talking about crypto so the reality could wildly vary from any prediction that we bother to make but my wild guess is that RUNE will continue to rise as we see more development and adoption of the THORChain. I expect it to reach double the current ATH within the year and who knows what could happen after that.
Final thoughts
So there you have it. RUNE was one of the first "alt" projects that I invested in and so far it's proven to be a very good investment. My position in RUNE is not very large at the moment and I kind of wish I had invested more from the get-go but I'm slowly increasing my RUNE holdings as I'm very bullish on its future.
Remember that crypto is very volatile and you could lose all your money, so do your own research and only invest money you can afford to lose.
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