Thorchain Rises to Third in Decentralized Exchange Rankings, Hits $1.8B Weekly Trade Volume

In the past week, trading activity on the decentralized exchange (dex) Thorchain has experienced a significant surge, reaching $1.854 billion in trade volume. Data shows that Thorchain is currently the third-largest dex in terms of volume, following the popular dex protocols Uniswap and Pancakeswap.

Timeline of Thorchain

THORChain Price Prediction: Last week, the cryptocurrency market witnessed heightened volatility, with major coins stalling due to overhead supply pressures. Bucking this trend, the RUNE price showcased a significant recovery, underpinned by escalating trading volumes.

Amid a tough day with the cryptocurrency market down on September 11, the last 30 days were also marked by a bearish sentiment and poor price performance for most cryptocurrencies.

RUNE, the native utility token of the THORChain decentralized liquidity protocol, has emerged as the top gainer among the top 100 cryptocurrencies, while Binance partially suspended the asset's withdrawals. RUNE gained 7.

Using decentralized finance to take on USD-denominated debt without paying any interest seems like a pie-in-the-sky concept, but it appears that at least one such decentralized lending mechanism already exists.

In a recent stride towards financial inclusivity, THORChain (RUNE), the trailblazing liquidity network, has unwrapped its innovative lending feature. This breakthrough empowers users to leverage their native Layer-1 (L1) assets—among them Bitcoin (BTC) and Ethereum (ETH)—to obtain loans denominated in TOR, a stablecoin equivalent to the USD.

In a recent development, THORChain (RUNE), the liquidity network, has unveiled its lending feature, enabling users to leverage their native Layer-1 (L1) assets, such as Bitcoin (BTC) and Ethereum (ETH), to secure loans denominated in TOR, a USD equivalent stablecoin. According to the announcement, this move opens up new avenues for financial participation, allowing users to borrow funds without the “burdens” of interest, liquidations, or expiration.

Decentralized exchange (DEX) THORChain (RUNE) flashes momentum following its recent launches. The highly-awaited THORChain lending protocol and Streaming Swaps functionality present a significant game-changer for the crypto project, enhancing usage and adoption. THORChain's latest functionalities have helped native RUNE defy the current downside market trends.

THORChain's RUNE rallied by 22% in the last week, making it the asset with the biggest price uptick during that period. However, as accumulation pushes its way into the overbought territory, is the token at risk?

Cross-chain decentralized exchange (DEX) THORChain is strengthening fundamentally with recently facilitated functionality driving adoption and usage. Furthermore, streaming swaps on THORSwap appear to be pushing RUNE prices higher as they defy the broader crypto market.

As the broader cryptocurrency market plunged over the past week, THORChain's RUNE stood out as an exception, surging ahead with a remarkable, bullish rally. Amid a sea of red, RUNE defied the downturn, demonstrating a striking resilience against the bearish wave that has engulfed the market.