Warning Cookies are used on this site to provide the best user experience. If you continue, we assume that you agree to receive cookies from this site. OK

THORChain’s 7-Day Trading Volume Hits $1.32 Billion, Third to Uniswap and PancakeSwap

today 11/13/2023
THORChain, a decentralized cryptocurrency trading protocol that allows for cross-chain swaps, has become the third-largest decentralized exchange (DEX) in terms of trading volume in the past seven days. Its trading volume over the week reached $1.32 billion, ranking below Uniswap with $10.85 billion and PancakeSwap with $2.77 billion. The trading volume of THORChain remains strong, with $334.3 million traded in the past 24 hours. This growth in trading volume is accompanied by a significant increase in the value of its native token, Rune, which has seen a 51% rise in the past week and over 200% growth in the last 30 days. THORChain operates as a multichain version of Uniswap and offers high yields to users, with an average annual percentage rate (APR) of nearly 44%. Some liquidity pools on THORChain provide even higher yields, such as Bitcoin and Rune pairs with an APR of over 353%. The project has caught the attention of Bitcoin advocate Erik Voorhees, who highlighted its significance for the Bitcoin community. THORChain allows for trading Bitcoin at scale without an intermediary, aligning with the principles of Bitcoin. The THORChain project was initially launched in 2018 and has gained attention and support from the cryptocurrency community for its innovative approach to decentralized asset settlement. In addition to the growth in trading volume in decentralized finance (DeFi), spot trading volumes on centralized crypto exchanges also experienced a significant surge, reaching the highest monthly volume since March 2023. The increase in trading volume is attributed to the return of volatility and bullish price action in the digital asset markets. Derivatives trading volumes on centralized exchanges also saw a significant increase, reaching the highest monthly volume since June 2023.
Stay Connected
Подпишитесь на нашу рассылку и получайте информацию о выходе новых статей, информацию об эксклюзивных скидках и другое
Или же подпишитесь на наш Telegram, чтоб всегда быть в курсе наших новостей.

Recent posts

12/08/2023

Reebok’s Blockchain-Powered Gaming Experience Set to Transform Fashion

Reebok and Futureverse have partnered to develop blockchain-based gaming and metaverse experiences, focusing on creating digital versions of Reebok wearables linked to non-fungible tokens (NFTs). The collaboration, called "Reebok Impact," will launch in 2024 and aims to transform how consumers perceive digital fashion. The companies plan to expand their partnership and launch new experiences in the future. Reebok is promoting its "life is not a spectator sport" campaign, aligning with Futureverse's "play-to-learn" strategy. This collaboration goes beyond NFTs and is part of Reebok's efforts to embrace transformative technology.
12/08/2023

Safe, Sygnum Bank, CoinCover Partner to Launch Optional Crypto Recovery Hub

Safe, Sygnum Bank, and CoinCover have collaborated to create the Safe Recovery Hub, which offers various options for recovering cryptocurrency. The hub allows users to customize their recovery solution based on their risk preferences, addressing the limitations of existing key management systems. Users can recover their digital asset accounts through designated "recoverers," such as family and friends, as well as third-party service providers like Sygnum Bank and CoinCover. Users maintain control and can cancel recovery attempts unless a recovery event occurs. This user-driven module is a significant development in both the crypto industry and traditional finance. The Safe Recovery Hub will be accessible to users of the Safe wallet, with partner services launching in the first half of 2024.
12/08/2023

Chinese Cities Launch End-of-Year Digital Yuan Giveaways

Chinese cities are launching giveaways of digital yuan tokens and discount vouchers at the end of the year to promote the adoption of Central Bank Digital Currency (CBDC). The People's Bank of China (PBoC) plans to distribute up to $2.8 million worth of coins and vouchers in Hebei province. Recipients can use their coins and vouchers at over 50,000 participating merchants, and residents must have digital yuan wallets with commercial banks or the Alipay e-pay platform to participate. Similar incentives are also being implemented in Suzhou and Jinan, offering discounts and subsidies to encourage the use of digital yuan.
12/08/2023

Bitcoin Price Prediction as BTC Surges to 18-Month High – Is $48,000 the Next Stop?

Bitcoin's price has surged to an 18-month high, reaching over $44,000 and potentially heading towards $48,000. This increase is driven by buying from individual and institutional investors, resulting in a rise in open interest. Market experts and traders are optimistic about reaching $45,000 and even $50,000. The anticipation of a spot Bitcoin exchange-traded fund (ETF) approval by the US Securities and Exchange Commission (SEC) is also contributing to the bullish trend. The Bitcoin ETF Token ($BTCETF) is gaining popularity as it offers investors exposure to the potential approval of the Bitcoin ETF. However, concerns have been raised by BlackRock about the possibility of Bitcoin being classified as a security by the SEC, which could impact its trading and custody in the US market. Despite some minor dips, Bitcoin's technical analysis suggests a bullish trend, with key resistance levels at $45,000 and $45,926. Traders are advised to closely monitor these levels and the critical support at $42,429. Additionally, a list of the top 15 cryptocurrencies to watch in 2023 is provided for readers' information.
expand_lessexpand_more