Rune Hits New Highs After Multichain Capital's Investment

by in Cryptocurrency News

Thorchain RUNE

The native token of the THORChain network Rune has increased by over a 34% after thesis-driven investment firm Multichain Capital accumulated a large sum of the asset.

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Now RUNE trades at about $5. Data shows that since its release in July 2019, the token has been up 62,000%. The token's market cap is $1.24 B, which brings it to 60th place. THORCHain is a cryptonetwork that enables users to swap crypto assets across blockchain networks in a non-custodial way.

Texas-based company Multicoin issued a paper concerning the potential of THORChain. The firm's Manager Partner Tushar Jain pointed out that THORChain offers a trust-minimized way to trade spot tokens (not just derivatives) across blockchains.

He believes the number of chains with exciting projects built on them will only grow in the future. Going further, Jain added the team thinks the RUNE token is the best way to invest in the vast diversity of the crypto ecosystem.