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.
THORChain (RUNE) is the 73rd largest cryptocurrency in the world by market cap, valued at $765,827,421. The current price of THORChain is $2.53, which is -0.004% lower than yesterday. Prices have ranged between $2.56 and $2.4 over the past 24 hours. All prices are listed in US dollars and accurate as of May 28, 2022 02:05 UTC.
| Coin symbol | RUNE |
|---|---|
| Coin Marketcap | US$765,827,421 |
| Total RUNE supply | 500,000,000 |
| Circulating RUNE | 300,755,175 |
| Current price | US$2.53 |
| All time high | US$20.87 |
| All time high date | September 28, 2019 |
| Partnerships | Synthetix |
| Industry | Decentralised finance |
| Token uses | Governance, utility token |
| Network | Tendermint |
Historical prices compared with the price of US$2.53.
| 1 hour | -0.40% |
|---|---|
| 24 hours | 0.00% |
| 7 days | -0.33% |
| 14 days | -0.16% |
| 30 days | -12.34% |
|---|---|
| 60 days | -21.17% |
| 200 days | -66.94% |
| 1 year | -74.95% |
Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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