Les Rivières pourpres
Nothing can grow indefinitely (except the egos of the Runtards): the long-awaited correction has washed away all market participants’ portfolios in bloody tears. In some positions we saw losses of up to 45%.
The fall did not bypass RUNE either — from ATH of $16 it collapsed to slightly above $10. The Thorchads’ testicles shrank so hard that they turned into a clear diamond. The market was bleeding and we needed good news in a hurry. And it didn’t take long for the developers to come through:
Even with zero fees per block, on fees alone, MCCN’s liquidity pools generated 65% annual returns for their participants. In one week. Unsurprisingly, more and more people want to get into MCCN and the demand for #RAISETHECAPS is being heard on Twitter and the project’s chat room several times each day. And these appeals have been heard:
Update 0.48 has been released and all known critical bugs have been fixed — now we have to wait for the current nodes to be churned out. If all goes well and the update does not break the system, the Impermanent loss insurance will be enabled. If the network runs for 24 hours without failure, the entry threshold will be raised and money will flow into the Thorchain liquidity black hole.
A marketing campaign was launched by the community:
Thorchain’s Tech lead, ThorChad Barraford gave several interviews to leading Influencers in the crypto community. His interview with Anotonio Pompiliano went viral among industry whales and now the big money has aware about RUNE.
NFTs with portraits of early Thorchain community members were auctioned off — 50 copies in total, starting at 0.5 ETH.
XDEFI has promised to give away beta access to 2,000 more participants. XDEFI has been working hand-in-hand with Thorchain since the beginning and was the first to create a wallet that supports the Thorchain blockchain. They are also working on an API that will allow them to easily create their own applications to interact with the Thorchain network.
As for the Battle of the Portfolios, Rune was able to recover from the fall quite quickly, and is in 250th place. This is down from the 217th place she fell from. But with time remaining in the race, it’s possible that Rune could bounce back to $32.5 and take its rightful place as leader.
Taking look at alternative portfolios, BTT has the best score, followed by CAKE, and BNB on third place. But none of the participants chose a portfolio of these three coins. Fourth in terms of performance was MATIC, which these days has burst upwards like a rocket. All the Battle of Portfolios leaders included at least one of these four coins in their portfolios.
