RUNE, still strong?
Thorchain experienced a good rally in the last 40 days. in these cases we usually temp to ask this question: "Is there any opportunity to go further or not?"
I'm going to answer this question by considering some simple and understandable metrics/
the trading volume increased parallel to the rally. this amount of volume was and is the highest amount since April 2021.
the weighted sentiment is one the most important indicators to watch in order to decide about the market temperature of a specific asset. in this case the weighted sentiment is standing in the negative areas which can be considered as a good sign, because it can be an indication to the fact that the greed is out and the probability of further correction is low.
Binnance's funding rate is positive(not too much) while FTX's funding rate is about to get into the positive areas. this can be considered as a "not very good, but not too bad" signal.
Developers activity is a concern... there is not much new ideas and improvement proposals happening through Thorchain's GitHub and other platforms that the data is driven from.
there is not specific divergences btw the price and Developers activity.
RUNE's previous rally was a healthy one. there is still some price potential in short term, but the outlook for long term hodling is not good enough because there is not enough development activity.
Thanks for reading!
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