😱THORChain’s RUNE: Flagging Bearishness Amidst Swap Frenzy!😱

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Alas! The THORChain token, known as RUNE, doth paint a picture most dire, for it hath shaped itself into a bearish flag—a portent of further plummets, despite the swap volume’s unbridled surge.

On the day of Venus, RUNE did trade at a mere $1.3050, a shadow of its former glory, down a staggering 82% from its November zenith. It flutters near its nadir since November last, and remains a mere tenth of its all-time peak.

Odd it is, for RUNE hath taken a tumble despite the network’s recent triumphs, as recorded by scribes of data. Swap volume on the stage of THORChain hath soared by 640%, to a sum of $3.3 billion, placing it amongst the titans of decentralized exchange.

Yet more from TokenTerminal doth reveal that the weekly court of active addresses hath swelled fivefold, from a paltry 1,000 to a crowd of 5,000.

But lo! This bustling activity hath been entwined with the recent pilfering by Bybit’s foes. Arkham doth tell that the Lazarus Group hath spirited away over $240 million worth of Ethereum through our network, converting it to Bitcoin in a most cunning laundering.

ALERT: LAZARUS LAUNDERING THROUGH THORCHAIN – MINIMUM $240M SO FAR

Over $240M of ETH has been sent through Thorchain by Lazarus-tagged wallets on Arkham.

These funds have mainly been swapped for native BTC.

— Arkham (@arkham) February 27, 2025

As the volume spikes, THORChain doth grapple with trials most severe. In the month of January, the company did halt Ethereum and Bitcoin lending, for its debts had surpassed $200 million.

On the day of Venus, Pluto, a cornerstone of the network’s builders, did announce his departure, following a failed vote to bar transactions linked to North Korean knaves.

These deeds may well invite the scrutiny of the U.S. authorities, including the vaunted Federal Bureau of Investigation. This week, the FBI did confirm the hand of Lazarus in Bybit’s breach.

RUNE’s Price: Awaiting the Final Bow?

The weekly chart doth show RUNE’s descent from the heights of $7.50 in December, following the ominous head and shoulders pattern, a harbinger of reversals most bearish.

RUNE hath sunk below the 50-week and 25-week Exponential Moving Averages, and even the key support level at $2.5560, its lowest ebb since September last.

Now, RUNE doth form a bearish flag, a signal of continuation most ominous. Should the price fall below the critical support at $0.7790, its lowest point in 2023, the breakdown shall be confirmed.

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2025-02-28 18:59