Share this article
The cross-chain decentralized exchange THORChain has soared 26% today, pushing the network’s native RUNE token up 51% over the past seven days.
RUNE Rallies Again
THORChain has rebounded ahead of one of the network’s most highly-anticipated integrations.
The cross-chain decentralized exchange’s RUNE token has gained an additional 26% Wednesday after a week of steady gains. RUNE is currently trading at $5.52 after rallying more than 51% over the past week.
RUNE/USD chart. Source: CoinGecko
Several upcoming catalysts may be fueling demand for THORChain’s native token.
THORChain is preparing to integrate the Terra network, allowing users to swap LUNA tokens and UST stablecoins directly for assets on other THORChain-integrated chains. Nine Realms, a team focused on bringing “institutional liquidity” to THORChain, confirmed in a Tuesday tweet that the Terra integration is complete. Developers are now working with the Terra smart contract auditor SCV to review the integration before a mainnet launch.
In addition to the imminent Terra integration, DeFiSpot, a decentralized multi-chain exchange built on top of THORChain, is also gearing up for launch. The project promises “boosted APYs” over the current high yields already available to those providing liquidity on THORChain-integrated chains. Currently, users can earn 60% APY on Binance USD, 19% on native Ethereum, and 17% on Bitcoin.
THORChain lets users directly swap their assets between blockchains without routing funds through bridges or centralized exchanges. The network has already integrated six blockchains into its cross-chain exchange: Bitcoin, Bitcoin Cash, Litecoin, Ethereum, BNB Chain, and most recently, Dogecoin. Terra will mark THORChain’s seventh integration. As Terra is built with the Cosmos SDK, the integration should make it easier for THORChain to add support for other Cosmos SDK blockchains in the future.
Disclosure: At the time of writing this piece, the author owned LUNA, ETH, and several other cryptocurrencies.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
OVR – the largest decentralized AR Metaverse
OVR is the decentralized infrastructure for the metaverse, merging physical and virtual world through Augmented Reality, creating a new dimension where everything is possible. It’s composed of 1.6 trillion unique hexagons…
THORChain Introduces Dogecoin Support
THORChain contributors have announced that the cross-chain liquidity protocol has fully integrated the platform’s features for Dogecoin. THORChain’s native DOGE liquidity pool has gone live, allowing users to trade their…
THORChain Jumps 35% on Ethereum Trading Restart
THORChain’s native RUNE token has rallied 35% following the restart of Ethereum trading on the protocol. THORChain Rallies on Ethereum Restart THORChain is back on Ethereum. The protocol’s native RUNE…
$5M in Ethereum Lost in THORChain Exploit
THORChain is the latest DeFi attack victim. THORChain Pauses Network After Attack THORChain has been exploited. The DeFi network, which focuses on cross-chain interoperability between protocols like Bitcoin and Ethereum,…