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Cryptocurrency Report.

One Cryptocurrency Trading Above the Support Levels- THORChain (RUNE)

09 May 2024

XRUNE
Investment Type
Crypto
Risk Level
Action
Rec. Price (US$)

Cryptocurrency Market Round-Up

Typically, cryptocurrencies are termed as digital currencies and use blockchain technology to record every transaction. THORChain (RUNE) is a decentralized liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks without losing full custody of their assets in the process. RUNE has a market capitalization of ~USD 1.98 billion (as per TradingView as of May 09, 2024).

Last week, the benchmark S&P Cryptocurrency Broad Digital Market (BDM) Index started on a negative note and maintained a bearish momentum for the entire week. The index declined by 93.77 points (~2.15%) to 4272.04 for the week ending May 03, 2024. In the current week starting May 06, 2024, the index is trading with negative momentum. Moreover, other major cryptocurrencies, such as Bitcoin and Ethereum, are witnessing bearish momentum for the current week.

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