Crypto News

THORChain’s mainnet launch has spurred RUNE’s 20% daily rally

                                                            Der Start des Mainnets von THORChain hat die Schleusen für bullische Aktivitäten in seinem nativen Token – RUNE – geöffnet.  In den letzten 24 Stunden stieg der Vermögenswert um über 20 % auf ein Intraday-Hoch von 2,3 $, inmitten einer schnellen marktweiten Erholung.  Nach einem leichten Pullback pendelte sich der Token zum Zeitpunkt des Schreibens in der Nähe von 2,2 $ ein.

THORChain’s mainnet is here

The latest surge comes after THORChain achieved mainnet status four years after its inception. The launch of the mainnet has been long awaited. THORChain had been planning it since late 2021, but several issues delayed the actual release. The decentralized liquidity protocol was largely a research project, but the achievement marks an important milestone that signals a new phase of development, scaling, and adoption.

The team behind THORChain announced,

“From its inception in 2018 to today, THORChain has been primarily a research project. Mainnet is making the shift to a full-featured, feature-rich protocol with a large ecosystem and strong community.”

The main focus will now be on integration with more decentralized exchanges (DEX) and exchange aggregators.

Meanwhile, to celebrate the launch of the mainnet, the THORChain team also announced the release of the “RUNE in a Million Campaign” on Binance, which will last from June 23 to July 7, 2022, raising $1 million in RUNE- Tokens for all crypto exchange users. The announcement managed to catapult RUNE’s price to the above multi-day highs.

RUNE/USD. TradingView
Cryptocurrency exchanges – Binance, CryptoCom, Coinspot, Swyftx and KuCoin have all confirmed their support for the asset. Data from CoinGecko suggests that RUNE is still down around 90% from where it was in May of last year, however all-time high lies.

Exploring the network

According to the THORChain dashboard, it has nearly $3.8 billion in native on-chain swaps. The previous network, called ChaosNet, had seen around $9.2 billion traded across 3.4 million swaps from nearly 71,000 individual traders.

THORChain raked in $80 million in fees from swaps. Currently, the total value (TVL) locked in the protocol’s smart contracts has been observed to be around $302.9 million.

The cross-chain decentralized exchange was hit by three sophisticated attacks in July 2021.

Source: Crypto News Deutsch

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