Why is THORChain (RUNE) crypto rising?

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Why is THORChain (RUNE) crypto rising?

Why is THORChain (RUNE) crypto rising?
Image source: © Kviztln | Megapixl.com


  • THORChain, a decentralized liquidity protocol, allows users to exchange crypto assets across networks.
  • The token is available for trading on exchanges like Binance, SushiSwap, etc.
  • It saw the highest price of US$9.87 in the last 30 days.

The crypto market strongly rebounded on Friday morning after a steep fall the day before. It rose 9.21% to US$1.31 trillion at 8:27 am ET, while its one-day volume fell 43.67% to US$142.29 billion.

The THORChain (RUNE) crypto also saw considerable gains.

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What is THORChain (RUNE) crypto?

THORChain, a decentralized liquidity protocol, allows users to exchange crypto assets across various networks. It also gives users full custody of their digital assets.

Users can swap an asset with any crypto through a permissionless liquidity protocol without relying on order books to source liquidity. The asset ratio in the pool also keeps the prices stable.

RUNE is the native utility token of THORChain. It is utilized as a base currency in the ecosystem.

Additionally, it works as a governance and security token as a part of a Sybil resistance mechanism. The THORChain nodes must pledge at least one million RUNEs to participate in a rotating consensus process.

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The token is available for trading on crypto exchanges like Binance, SushiSwap, etc.

Although there was no clear reason for its price surge, the rally in the broader crypto market may have boosted its gains. Also, the project’s unique features may have drawn attention.

Besides, THORChain on Friday said that it had updated the analytics dashboard on its THORWallet DEX. It also said its next focus would be on community tiers and their integration into the web app.

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THORChain (RUNE) crypto price and performanceData Source: CoinMarketCap.com

Bottom line:

The RUNE crypto was priced at US$3.56 at 8:31 am ET on May 13, up 21.79%, while its volume for the trailing 24 hours declined 37.39% to US$222.09 million. It has a market cap of US$1.17 billion, and its fully-diluted market cap is over US$1.78 billion.

The token has a maximum supply of 500 million, a total supply of 334.93 million, and a current circulating supply of over 330.68 million. It saw the highest price of US$9.87 and the lowest price of US$2.46 in the last 30 days.

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