Rune gets wrecked

Get Wrecked...

There are plenty of people panicing over the debacle at Thorlend and some are selling all their RUne.
They are selling at a loss, and some are happy to get whatever they can get for their Rune and some are calling a failed project.

Rune is the utility or gas token for Thorswap, the cross chain swap exchange, decentralized, which has been doing hundreds of millions of volume.
But decided to expnd into Lending with Thorlend, but it was paying deposits based on being Long RUne and short all other assets. This was great when the price of RUne was rising, which it did for 2 years. But when it started falling, it became a problem, and recently Thorlend found itself 200 million dollars in debt because of Thorlend. So it froze withdrawals and the investors panic sold their Rune and it crashed from over 4 dollars to 2 dollars, before people started buying up cheap Rune.

A famous trader is often quoted for saying Buy when there is blood in the streets, even if it's your blood.
So on the positive side Thorchain did over a billion dollars in volume in 2024, which means in theory they should be able to payoff this 200 million dollar debt.
And if you believe that you probably should buy Rune now, wile it is on sale.
But there's a risk that the project could fail and the Rune token could go to Zero ot some other very small number.
It's a gamble for sure to catch a falling knife, when you don't have the financial strength to stop it's fall, you are just going along for the ride.
Some will take the plunge now and use all their capitol at 2 dollars, others will buy some every day or every week or every time there is a price drop.
I think it all depends on your risk tolerance.
What do you think?

Rune gets wrecked | Ecency