THORChain Price Breaks Out Above $0.46 as Kelp DAO Hack Drives Volume

1 hour ago 2

THORChain price exits 10 weeks consolidation as buyers breach the neckline resistance of $0.46 of double bottom pattern.
Within days of the Kelp Dao exploit, the perpetrators initiated a laundering operation, routing nearly $80 million worth of ETH through THORChain
According to Santiment data, the social media volume surrounding THORChain (RUNE) has spiked by 5-10x baseline.

RUNE, the native utility token of the THORChain ecosystem, jumps over 10% during Wednesday’s U.S. market hours to trade at $0.48. A primary catalyst for this surge was heightened network activity and fees generated by funds moving from Kelp DAO exploit. The easing geopolitical tension in the middle east further bolstered the general market sentiment in crypto market, supporting THORChain price for a major breakout.