RUNE coin Live Price, MarketCap, Charts

Price for the Rune token from the blockchain protocol Thorchain.

Oct 1, 2023 - 15:29 Updated: Sep 25, 2023 - 15:05

0 109

RUNE price

RUNE cryptocurrency is currently ranked 16th out of 5000. Its market capitalization stands at $510,668,076, with a fully diluted value of $850,000,000.

The circulating supply is 300,700,561, while the total supply is 500,000,000.

The 24-hour trading volume is $40,868,728.

The all-time high price was $20.87, with a drop of -91.9% from ATH and an increase of +1130% to ATH. (source: Coinmarket cap)

Live price of RUNE token

What is RUNE coin?

The RUNE token is the native cryptocurrency of the THORChain network. Thorchain is building a chain-agnostic bridging protocol that will allow trustless and secure value-transfer connections with most other chains (such as Bitcoin, Ethereum, Monero and all of Binance Chain).

RUNE serves as the backbone of the THORChain ecosystem, providing both economic incentives and network security. It assumes four vital roles outlined below:

1. Liquidity (as a settlement asset)

2. Security (as a sybil-resistant mechanism and a driver of economic behavior)

3. Governance (facilitating on-chain signaling priority)

4. Incentives (reward distribution, fee charging, and gas subsidization)

With these roles, RUNE solidifies its significance and contribution to the THORChain framework.

Deterministic Value of RUNE

The price of RUNE is influenced by two factors: a deterministic value based on liquidity within the network, and a speculative premium.

With a 2:1 bond-to-stake ratio and a 1:1 pool ratio, the amount of RUNE required in the network is three times the locked value of non-RUNE assets. For instance, if $1,000,000 worth of non-Rune tokens are staked in THORChain, the market cap of RUNE will exceed $3,000,000. Similar to tokens, stocks, and other financial assets, speculation surrounding its future value reinforces upward pressure on the price. (source: Thor Chain Docs)

It is important to note that the 3:1 ratio represents the minimum deterministic value of RUNE.