Max E.Tue, Mar 15, 2022 6:10 PM
RUNE & EGLD: 15 March Price Digest
Over the past week, most altcoins have suffered the same fate as Bitcoin.
Despite the turmoil of the market, “green islands” could be found in the “Red Sea”. RUNE is a native cross-chain token of the THORChain protocol. At the time of writing, the price of the token is $7.87. It has increased by 11.51% in the last 24 hours.
On March 10, ThorChain announced the introduction of synthetic assets to its blockchain, allowing users to own and trade representatives of layer 1 blockchain assets faster and cheaper. These synthetic crypto assets are backed by half the value of the underlying asset and half the value of RUNE. With the introduction of synthetic assets, network usage and total locked network cost will increase. As a result, the swap fee will be cheaper and liquidity providers will get more income.
These are indeed very favorable developments for the cryptocurrency, which can significantly increase the demand for RUNE tokens and their use.
After the recent rally, the token has also demonstrated a U-shaped recovery despite the weak sentiment currently plaguing the broader crypto market.
RUNE will confirm a trend reversal if the token breaks above its 200-day moving average, followed by a stabilization period. If this happens, the token could potentially rise to a recent high of $17.5.
At the time of writing, the price of Elrond is $154.72. Over the past 24 hours, the price of EGLD increased by 8.84%.
On March 10, Elrond announced that it was acquiring Romanian payment company Twispay after receiving approval from the Romanian central bank. Also, the country's national bank granted Elrond a license to issue e-money in a number of European countries.
Representatives of the project called the acquisition of Twispay an important milestone on their path and an event that will strengthen the role of the project in the process of digital transformation of the world of finance.