THORSwap’s relaunch of the platform increased the price of THORChain (RUNE) by 8 percent.
There was a strange activity in the THORChain ecosystem. THORChain’s decentralized exchange, THORSwap, pushed the RUNE price up.
THORSwap suspended transactions, citing the prevalence of illegal transactions on the platform. With this move, there was a decrease in the price of RUNE. Shortly after, the project announced that it had restarted operations. With this announcement, there was an 8 percent increase in RUNE. The platform caused manipulation in the RUNE price with its moves.
THORChain (RUNE) exhibits manipulative activity
THORChain (RUNE) exhibits manipulative price movement due to the activities of THORSwap.
THORSwap, the decentralized crypto exchange in the THORChain ecosystem, directly affects the RUNE price with the decisions it makes. THORSwap announced on October 6 that it had suspended platform transactions. The platform claimed that illegal transactions would be eliminated within the scope of the harmonization process with the USA.
THORSwap’s move was an important factor in the 25 percent decline in the RUNE price. Investors sold their RUNEs as a result of the development in the THORChain ecosystem.
A week later, a new move came from THORSwap. The platform announced that it will restart operations with the update to its terms of service. The platform, which previously affected the RUNE price downwards, caused an increase this time with its latest announcement. RUNE experienced an 8 percent increase.
The manipulative movement in the RUNE price attracted attention. On the other hand, THORSwap’s native token THOR also rose. THOR increased by 12 percent.
According to THORChain data, transaction volumes were around $30 million last week. THORSwap’s restart of transactions increased THORChain transaction volume to 62 million dollars.
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