![image.png](https://images.hive.blog/DQmPMRHL3DmsuFHDMebknpAYfho9ihbk7rCr6WthvxjVn7f/image.png)

I am a firm believer in the Thorchain protocol and what they're building for the entire crypto industry. In my opinion, this is a top 10 project in the making and we're just in the early stages of seeing it grow and see adoption.

As part of the [#LeoAlpha initiative, we've been focusing on Thorchain (RUNE)](https://leofinance.io/@khaleelkazi/leoalpha-thorchain-rune-tracking-the-opportunities-and-future-of-multi-chain-swaps) and the opportunity of accumulating RUNE if it should turn out to be a top 10 crypto project that solves the #1 issue in this industry: native multi-chain coin swaps.

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**Related:** https://leofinance.io/@khaleelkazi/exploring-the-idea-of-thorchain-s-potential-implementation-of-protocol-owned-liquidity-pol 

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There are so many exciting aspects of Thorchain to talk about and that is why I accumulate RUNE regularly (and I believe many others on LeoFinance have been as well). 

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## Short-Term Trade Setup on RUNE? 

For obvious reasons, my time to trade is limited. I spend 99% of my time focused on designing, developing and operating LeoFinance and I use the 1% to pay attention to interesting projects in the space and accumulate a stake when I feel conviction for them.

RUNE is at the top of that accumulation list. Sometimes, however, a nice short-term trade setup presents itself. 

## #REDEMPTIONOFRUNE Event!

![Screen Shot 20211018 at 9.54.04 AM.png](https://images.hive.blog/DQmbTTRxdZqaw5aksRWX9AEG9byRTiS3XFJTaAQY1Mm3jvK/Screen%20Shot%202021-10-18%20at%209.54.04%20AM.png)

As of this morning, 50% of Thorchain nodes are synced up and ready to enable Ethereum and ERC20 trading. 

This is the #1 event that everyone has been waiting for since Thorchain was hacked in the not-so-distant past. 

Personally, I've used the post-hack price depression on RUNE to accumulate an even more massive stake than I had before. I believe firmly in the Thorchain team and their ability to deliver multi-chain native crypto swaps. There is nobody in the space that has this product even close to delivery and Thorchain had it (and has it for everything but ETH/ERC20s as of this moment). 

Once ETH/ERC20s re-open and people realize the high degree of security that the team brought in post-hack, I believe RUNE will catch up with the rest of the "New-Age DeFi" world. Projects like LUNA are exploding and I believe Thorchain is one of the next to take off and see mass adoption. 

With ETH/ERC20s reopening in the next 2-3 days, I am making a short-term bet alongside my long-term bet.

There are a number of ways to do this, let's explore a few options.

## Trade RUNE/BTC, Futures and Thorswap BTC->RUNE

3 ways we can explore this short-term trade setup:
1. Trade BTC (or another asset) for RUNE on a CEX
2. Trade Futures on a CEX (if you have access)
3. Use Thorchain native asset swaps to trade BTC (or another) for native RUNE

The first is how you might trade most assets: go to a CEX and exchange one crypto asset for RUNE.

Lately, I've been buying a lot of RUNE with my BTC reserves. Some might call that crazy, I call it opportunistic.

Outside of my regular accumulation of RUNE, this short-term trade setup to trade the RUNE/BTC pair and then back into BTC once ETH/ERC20 routers re-open is too hard to pass up.. free BTC, IMO - also, more BTC to pool with my RUNE when #RAISETHECAPS happens. 

If you have access to a CEX like Binance, you can also run a leveraged futures trade on RUNE. I like this setup a lot, but only if you fully understand and accept the risks of leveraged trading.

Leveraged trading can be an incredible way to take advantage of a short-term move like what I expect RUNE to pull off this week. If you have the self-control to deploy the strategy, then I think it could be a winning one. I personally have taken on some leverage for a short-term setup on RUNE. Looking to close it at around $12-$15 post-ETH re-opening. 

The 3rd trade setup is to use Thorswap (a Thorchain DEX Aggregator) to swap native assets for native RUNE. Obviously, ETH/ERC20s can't be utilized for this trade setup. Like I said, I've been converting some BTC reserves into RUNE.

One of the main ways I've been doing this is on Thorswap. Converting native BTC from a ledger hardware wallet into native RUNE back into the ledger hardware wallet (yes, the Thorchain app is back and available on Ledger devices). 

## What's the Price Target?

**RUNE is trading at $7.60** as I write this post. I've been accumulating anywhere in the range of $3-$10 after the ETH/ERC20 router hack a few months back. 

For this trade setup, I've been buying RUNE over the past several days with BTC reserves. Planning to migrate back into BTC (only with this short-term trade position) after the ETH routers re-open and people come to understand what Thorchain did in terms of audits, security team, bounties, etc. to make sure that another hack becomes extremely unlikely. 

**I'm expecting a quick recovery to $12-$15**. Obviously, I'm no technical analyst nor predictor of any kind. I believe in Thorchain and simply see an opportunity to pick up some extra BTC over the next week with this little setup. 

NFA, DYOR, yada yada. 

*This post is part of the #LeoAlpha Initiative. [Read More](https://leofinance.io/@khaleelkazi/leoalpha-a-new-series)*








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