THORChain’s RUNE token surged by more than 26% in 24 hours, ranking first among all gainers in the top 200 cryptos by market cap. The rally was fueled by the THORChain v3.20 upgrade launched on August 26, which now enables swapping privacy coins like Monero and Zcash for Bitcoin, Ethereum, and stablecoins. Daily trading volume tripled to exceed $20 million, while short positions worth 10x those of longs were liquidated. The price is now testing the $0.65 resistance level, and a flip into support would confirm a shift to a bullish market structure, with the 200-day EMA already turned bullish.
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