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Thorchain (RUNE) is the 77th largest cryptocurrency in the world by market cap, valued at $884,000,000. The current price of Thorchain is $1.768, which is -5.505% lower than yesterday. Prices have ranged between $1.89 and $1.73 over the past 24 hours. All prices are listed in US dollars and accurate as of January 31, 2023 01:01 UTC.
THORchain is a liquidity and interoperability system with an emphasis on facilitating secure cross-chain cryptocurrency transactions. The platform’s goal is simple: build bridges to enable anyone to securely and cheaply move any asset between any blockchain.
The first part of THORchain’s solution is liquidity pools, all of which are composed of RUNE tokens in combination with other assets. These pools serve as the source of swappable coins from different blockchains, while the RUNE token acts as an intermediary currency. Whenever you want to swap an asset from one blockchain to another, you have to make a trade through these pools.
The other part of THORchain’s solution are nodes that provide security to the network, build bridges to supported blockchains and ensure that all transactions are broadcast to the appropriate chains. When someone makes a cross-chain transaction using the liquidity pools, the nodes see it happen and then perform the actual on-chain transactions on the user’s behalf.
RUNE tokens are the native utility token of the THORchain network. As well as being a key component of liquidity pools, these tokens are also vital for the economic security of the platform and play a role in governance.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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