THORchain Thunders to 9% Increase; Yet Meme Kombat’s Presale Might Strike Even Harder

THORChain (RUNE) price is up almost 10% in the last 24 hours and about 30% since its Friday opening of $1.524 on October 20. Despite the surge, trading volume for the token is down around 15%. However,  the altcoin continues to trend on Crypto X.

The THORChain ecosystem is trending, coming on the back of the project’s working mechanics. The Layer-1 (L1) token boasts finite rewards but infinite use cases.

Trending up – should only get higher
– RESERVE is finite, so rewards slowly trend to 0%
– Utilisation is infinite, so fees should trend to 100%.

What other L1 is currently operating above 50% Fees/Rewards?
Here is for BTC and ETH https://t.co/DT435q8ngI pic.twitter.com/QIEQlpcc37

— THORChain (@THORChain) October 23, 2023

With this, users say that the THORChain and RUNE ecosystem is among the most underrated. The team of developers has a full cycle, and the infrastructure around the ecosystem is in the works. This is part of a strategic move towards a decentralized future.

I think one of the most underrated L1 is $RUNE @THORChain — the team has now seen a full cycle and the infrastructure around the ecosystem is coming.. as we move towards a decentralized future, I believe this will be a major player in the game. Native swaps..

— 18decimals (@18decimals) October 23, 2023

THORChain Affiliate Fee Collections Hit All-time High

The affiliate fee collection for the THORChain ecosystem hit an all-time high in October, recording approximately 232,000 RUNE in collections. The record of accomplishment is attributed to streaming swaps. This function boosted the affiliates, making the call for wallets to integrate louder than ever before.

When users swap L1’s across THORChain, they do not hold RUNE, but yield goes up via fees. When yield for savers goes up, people deposit L1s into the pools, which 50% buys RUNE. At no stage does the user ever hold or concern themselves with RUNE, but RUNE accrues value always.

Citing an official communication on Crypto X, “If you are a wallet, now is the time to integrate – guarantee a sustainable source of income.”

THORChain swaps are so hot that wallets are making 6 times more than the core protocol is ($1500 for wallet, $253 for protocol).

If you are a wallet, now is the time to integrate – guarantee a sustainable source of income. https://t.co/DrnIFPeHU9

— THORChain (@THORChain) October 22, 2023

Almost $500,000 has been collected in October alone for wallet developers. According to the network, this is enough to pay fifty blockchain developers’ salaries. Notably, developers get paid to build products for users, and with such incentives, users anticipate the THORChain-powered ecosystem to be world-class.

It I worth it to note that the THORChain ecosystem also has a lending function in place, barely two months old, with more than 520 loans already open.

63 days since launch of @Thorchain lending.

– total loans opened: 520
– total loans closed: 14
– total distinct borrowers: 299
– total $RUNE minted: 64.48K
– total $RUNE burned: 1.24M
– total Net $RUNE burned: 1.17M$RUNE will keep burning more as long borrowing > repayments

— hitesh.eth (@hmalviya9) October 22, 2023

THORChain Price Prediction With $2.00 Psychological Level In Sight

Based on the technical outlook, THORChain price bullishness does not show any signs of stopping. The Relative Strength Index (RSI) remains northbound, while the Awesome Oscillator (AO) histogram bars remain green and edging to the positive territory.

Increased buying pressure above the current price of $1.930 could see THORChain’s price shatter the $2.048 resistance level. The gains could extrapolate in a highly bullish case, potentially tagging the $2.267 range high.

The position of the RSI as 61 points to a strong price strength and shows more room to the north. This bolsters the case to the north.

On the other hand, after a 30% run, investors that bought RUNE around the $1.497 low are likely to start booking profits. The ensuing seller momentum could reverse the gains for RUNE, potentially dropping below the longs’ entry at around $1.646. In the dire case, the slump could extend to the $1.487 low, where shorts will likely start taking profits.

While THORChain gathers gusto for more gains, investors are also looking at MK, an innovative new gaming platform designed for gaming enthusiasts.

THORChain Alternative

MK is the native crypto for the Meme Kombat project, newly introduced into the market but already threatening its peers, SHIB, DOGE, and PEPE.

From active betting to passive staking, there are many rewards for MK community members, including Annual Percentage Yields (APY) as high as 112%. The project is still in the presale stage, boasting upwards of $653,700 in presale sales collection. This comes as investors buy MK using Ethereum (ETH) and Tether (USDT) stablecoin or a simple bankcard purchase at rates as low as $0.1667.

Through thick and thin, Meme Kombat will be a constant in your life💪 pic.twitter.com/HhXhVG2r0B

— Meme Kombat (@Meme_Kombat) October 23, 2023

Meme Kombat meets users where gaming and gambling intersect, with the option to select meme characters you think will win. Your choice could be based on mere preference or playing the odds. Do not wait for battles. Begin earning APY on $MK tokens today by buying the presale here.

We’re all winning at life cause we’re here together🫶 pic.twitter.com/jHWhDqBPYO

— Meme Kombat (@Meme_Kombat) October 22, 2023

MK Token Utilities

When you free up your staked MK tokens to use as gambling chips, the Meme Kombat ecosystem lets you earn from staking. This explains why Meme Kombat has merited for the hottest stake-to-earn gaming meme crypto. You can also earn from staking while at the same time participating in the gambling function presented as a Meme Kombat Arena where participants bet.

We salute you fighters🫡$MK #MemeKombat pic.twitter.com/8eeQY79FOE

— Meme Kombat (@Meme_Kombat) October 20, 2023

It is also worth mentioning that the Meme Kombat ecosystem places community members at the center of its plans. This is best indicated in the community incentives and a launching platform. The project has also committed to prioritizing community engagement, adaptation to market trends, and conforming to user preferences. The project’s telegram and X accounts are good places to find the latest data.

Have you joined the Telegram group chat yet?

If not, link is in bio frens ⚔️ pic.twitter.com/0w8AX6JyYA

— Meme Kombat (@Meme_Kombat) October 21, 2023

The project also plans to expand its ecosystem by introducing new gaming modes while forging partnerships on the side. The project’s plan is underpinned by its strong token distribution strategy, where 50% of the tokens are allocated to the community in the presale.  Staking and battle rewards get 30%, while the exchange’s liquidity and community incentives get 10% each.

Visit Meme Kombat to buy MK here before the presale ends.

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