What is THORChain ($RUNE)?

Enter the Asgard of Web3, THORChain, the ultimate cross-chain and multi-currency Layer 1 network.

$RUNE is up over 180% in the last year, and only a few have been paying attention.

So, we thought we’d see what Odin and Thor are up to…

What is THORChain?

THORChain is a Layer 1 decentralized exchange established in 2018 and launched in 2020. The mission is clear and simple: provide an all-in-one DeFi platform that makes crypto easy, friendly, efficient and accessible for everyone. Let’s explore the how.

Home to many features, THORChain enables anyone to swap without the need to wrap tokens or use pegged assets. Users can also lend and deposit their native assets to earn yield from swaps that are facilitated around the entire ecosystem.

THORChain is cross-chain compatible with the largest networks including Bitcoin, Ethereum, the BNB Chain, Avalanche, Dogecoin, Litecoin, Bitcoin Cash and most importantly, the Cosmos Hub of which THORChain was built using the Cosmos SDK, enabling pure interoperability across the 100+ IBC-enabled protocols including Celestia, Injective, and many others.

THORChain Statistics

5- Since the mainnet launch, THORChain has proven its might by achieving over $754M+ in TVL, over $256M in liquidity, and over $70.6B in volume across over 113K unique users within the ecosystem. These statistics continue to grow as THORChain consistently evolves and attracts new Asgardians to the network.

THORChain Ecosystem

Explore the cosmic realms of the THORChain ecosystem, which is home to over 70 native and integrated dApps, including protocols such as THORSwap, ASGARDEX, LIFI Protocol, Trust Wallet and many others. This is an ecosystem that doesn’t stop growing.

THORChain Token ($RUNE)

$RUNE, the native token to the network and ecosystem, has many utilities behind it. Primarily, $RUNE is used as the gas token to settle transactions. The $RUNE token is also used to stake for network security, participate in governance, perform cross-chain transactions and reward incentives from providing liquidity!

Conclusion

According to CoinMarketCap, at the time of writing, $RUNE is sitting at $4.91 with a market cap of $1.65B, ranking THORChain the 50th largest crypto, according to CoinMarketCap. In the last bull run of 2021, $RUNE achieved an ATH of $21.26. Although 2024 has been a bullish year for $RUNE, many still expect new highs to be reached in the coming bull run.

Interoperability is one of the few keys to a bright future for blockchain technology, and THORChain stands at the forefront of this mission, providing everyone with seamless native cross-chain swapping across the largest networks and giving developers the tools to access the boundless liquidity of the THORChain ecosystem.

Official THORChain Links

THORChain Website

THORChain X

Disclaimer

The content provided in this article is purely informational and nothing said is financial advice. Proceed with caution and always invest what you are prepared to lose. Remember that you are entirely responsible for your assets and investments and the author and the publication do not endorse any of the cryptocurrencies, protocols and/or strategies in this article.