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Price Updates, Recent Developments, Future Events, Community -Breaking

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THORChain (RUNE): Updates on Price, New Developments, Future Events and Community
  • Rune’s upcoming mainnet launch has boosted the token’s value to a recent high of $6.01.
  • (LUNA) has also been integrated into THORChain Protocol, which allows for the platform support Cosmos-based Projects.
  • 1.5 Million decentralized, permissionless swaps were made possible by the THORChain network.
  • The value of the token THORChain ($RUNE), jumped by 76.25% during this week.

THORChain (or THOR) is an independent cryptocurrency that has been created by the Cosmos SDK. It serves as a crosschain, decentralized exchange (DEX).

This project is unique in that it employs an automated market maker model (AMM), where $RUNE, the native token, is the base pair. Users can exchange native assets within chains through the non-custodial THORChain interfaces.

Prices Updates

Due to Terra’s (LUNA), integration into the THORChain protocol and the upcoming mainnet launch has resulted in an increase of the THORChain ($RUNE). token.

The token saw a seven-day drop in value on February 28th, where it fell to $3.41.

The token reached its highest value on March 3. It was worth $6.01 which is a 76.25% increase or $2.6.

The 7-day price graph for THORChain (RUNE) Source: Coinmarketcap

In the last 24 hour, the token saw a decrease in its value. For example, the token was valued at $6.01 in March 2022. However, it fell to $5.85 on March 4th, 2022. This shows that the THORChain ($RUNE), token value has dropped by $0.16 and 2.66%.

The 24 hour price chart for THORChain (RUNE). Source: Coinmarketcap

Recent developments

The integration of Terra (LUNA), within the THORChain protocol has been a huge development for the $RUNE community. Nine Realms posted the announcement on Twitter (NYSE 🙂 March 1, 2022.

This integration allowed the platform to be used for all Cosmos-based projects.

Also, $UST and $LUNA have been added to the THORChain environment. This gives traders and staking users more options.

THORChain has also stated that the THORSwap exchange supports eight blockchains, six wallet types, and eight other crypto currencies. THORChain has added support for Monero as well as Have.

THORChain grew to 1.5 million in size. This was despite growing a network with 0 to 73 Nodes, and enduring chaos as it shipped over 81 major network update.

Future Events

A hard fork will update the THORChain network. This will be thoroughly tested in the testnet, followed by testing on Stagenet after Terra launches and ChaosNet before the mainnet launch.

Launch of the next mainnet was a long-awaited event. It was first planned for 2021. But, due to various factors, it has been delayed. It is not known when the mainnet will launch.

Prior to the mainnet’s launch, the requirements include fulfilling all testnet goals. These include rehearsal of adding or removing chains, ($BTC), and ($LTC) removal from the testnet. There will also be several runs of forking the chain.

Flipside

  • It is evident that there is still high interest among the members of the community who have been loyal to each block.

The Community

@Hey_ImTheNewGuy posted the story of how he started a couple new LP posts on THORChain. The user received $900 in both fees and rewards over the course of the 4 day period.

The DeFi super-user @DeFi_Dad shared that he had revisited some familiar DeFi apps, where THORSwap gave him unexpectedly high yields, where he said: “ @THORSwap is a cross-chain AMM built on @THORChain, currently supporting tokens across , BSC, BTC, and more.”

@ChadThoreau shared an interesting overview of $RUNE, where the user claimed “What ever your crypto favorite is, $RUNE will ensure that the cryptocurrency is free from restrictions. Anyone pro crypto that doesn’t like @THORChain simply doesn’t understand it yet, or underestimates the threats that crypto is built to resist.”

Why you should care

The launch of the mainnet and many planned integrations will continue THORChain’s evolution.

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