THORChain ($RUNE): Recent Developments and Price Updates

  • Rune’s awaited mainnet launch propelled the coin’s price to the latest highs at $6.01.
  • Also, Terra integrated into the THORChain network, allowing the protocol to support Cosmos-related projects.
  • The THORChain platform hit 1.5M decentralized permissionless swaps.
  • THORChain ($RUNE) token surged by 76.25% within the week.

THORChain is a blockchain platform developed through Cosmos SDK, a cross-chain DEX. The project maintains uniqueness since it utilizes an AMM (automated market maker) model, using the native coin $RUNE as base swap pair. Non-custodial interfaces by THORChain allow users to swap their native products across chains.

Price Updates

Terra integrating to THORChain plus anticipated mainnet launch saw the protocol’s native token $RUNE on price surges. The alt touched 7-day lows on 28 February, when it plummeted to the $3.41 value area. The alt hit its record high on 3 March, when RUNE climbed by 76.25% to $6.01.

Meanwhile, the previous 24 hours saw the token losing value. Moreover, $RUNE saw gradual decreases after hitting the $6.01 record high, changing hands at $5.85 on 4 March 2022. For now, the alt hovers around these value areas. That means $RUNE plunged by 2.66% since touching its higher highs.

Recent Developments

Terra-THORChain integration is among the development that triggered excitement throughout the RUNE community. Nine Realms posted the announcement on Twitter on 1 March 2022. Meanwhile, the integration allowed the network to support all projects based on Cosmos protocol.

It also means adding LUNA and UST to the THORChain network. That way, users access more staking and trading options.

THORChain declared it supports eight blockchains and six wallet types on THORSwap cross-chain DEX. Furthermore, THORChain plans to support Monero and Have soon. Moreover, the protocol saw size growth, recording 1.5M decentralized permissionless swaps as it grew to 73 nodes from zero. It also ensured colossal chaos when shipping more than 81 leading network updates.

Future Events

The THORChain ecosystem awaits a hard fork update. Developers plan their testing in testnet and another one in Stagenet after Terra launch and on ChaosNet before mainnet launch. Meanwhile, market participants have awaited the upcoming mainnet since last year. The protocol is yet to disclose an official mainnet launch date.

Editorial credit: FellowNeko /