THORChain (RUNE) Metrics
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THORChain (RUNE)
What is THORChain?
THORChain (RUNE) is a decentralized liquidity protocol launched in 2019 by an anonymous team. It was designed to facilitate cross-chain liquidity and enable seamless asset swaps across different blockchains without the need for centralized exchanges. THORChain operates on its own native Layer 1 blockchain, utilizing a unique consensus mechanism known as Tendermint, which is based on Byzantine Fault Tolerance (BFT). The native token, RUNE, plays a crucial role in the THORChain ecosystem. It is used for liquidity provision, governance, and as a settlement asset in the network. RUNE helps ensure the security and efficiency of the protocol by incentivizing network participants to provide liquidity and validate transactions. THORChain distinguishes itself with its ability to enable cross-chain swaps directly from user wallets, supporting a truly decentralized and trustless trading environment. This feature positions THORChain as a significant player in the decentralized finance (DeFi) space, offering a robust solution for interoperability across blockchain networks.
When and how did THORChain start?
THORChain originated in 2018 when an anonymous team released its whitepaper, outlining the vision for a decentralized liquidity network. The project aimed to facilitate cross-chain liquidity without relying on centralized exchanges. THORChain's testnet went live in July 2019, allowing developers and early adopters to experiment with its features and provide feedback. The mainnet launched in April 2021, marking its full public availability and enabling users to trade assets across different blockchains seamlessly. The initial distribution of THORChain's native token, RUNE, occurred through a combination of a Binance DEX offering and subsequent public sales, establishing a foundation for the project's growth and the development of its ecosystem.
What’s coming up for THORChain?
According to official updates, THORChain is preparing for several key developments. One of the major upcoming milestones is the launch of the "ThorFi" suite, which includes features like lending and savings, targeted for release in the coming quarters. This initiative aims to enhance the DeFi capabilities of the network. Additionally, THORChain is working on integrating new blockchain networks to expand its cross-chain liquidity offerings, with specific integrations planned for later this year. Another focus is on improving the protocol's security and scalability through ongoing upgrades and audits. These efforts are designed to improve the overall user experience and network robustness, with progress being tracked through their official GitHub repository and community updates.
What makes THORChain stand out?
THORChain distinguishes itself through its decentralized liquidity protocol that enables cross-chain swaps without the need for wrapped tokens or intermediaries. Its architecture is built on the Cosmos SDK, utilizing the Tendermint consensus mechanism, which supports seamless interoperability across different blockchains. A unique feature of THORChain is its use of Continuous Liquidity Pools (CLPs) and the Bifröst Protocol, which facilitate efficient asset exchange and liquidity provision. The network’s design eliminates impermanent loss risks for liquidity providers by employing a dynamic slip-based fee mechanism. THORChain's ecosystem is further enhanced by its decentralized governance model, allowing community-driven decision-making. Additionally, its integration with various blockchain ecosystems ensures a wide range of asset compatibility, positioning THORChain as a distinct player in the decentralized finance landscape.
What can you do with THORChain?
THORChain utilizes the RUNE token primarily for facilitating cross-chain liquidity and transactions. Users can use RUNE to engage in seamless swaps across different blockchains without relying on centralized exchanges. RUNE also plays a crucial role in liquidity pools, where holders can provide liquidity and potentially earn fees generated by the network. Validators and node operators use RUNE to bond and secure the network, ensuring its decentralized operations and integrity. Additionally, RUNE is integral to the network's governance, allowing holders to participate in proposals and decisions that shape the future of THORChain. Developers can build decentralized applications (dApps) and integrations on THORChain, leveraging its unique cross-chain capabilities. The ecosystem supports various wallets and interfaces that facilitate interaction with RUNE for these diverse functions.
Is THORChain still active or relevant?
THORChain remains active through its continuous development efforts, as evidenced by recent updates and governance activities. In October 2023, THORChain announced a significant protocol upgrade aimed at enhancing cross-chain liquidity and security features. The development team is actively working on improving network efficiency and expanding the range of supported assets. THORChain is integrated across various decentralized finance (DeFi) platforms, allowing users to swap assets across different blockchains without the need for centralized exchanges. This cross-chain capability maintains its relevance in the DeFi sector. Additionally, ongoing governance proposals and community engagement indicate a robust and active user base, further supporting its continued importance in the cryptocurrency ecosystem.
Who is THORChain designed for?
THORChain is designed for developers and liquidity providers, enabling them to facilitate seamless cross-chain liquidity and decentralized exchange. It provides key resources such as SDKs and APIs to support the development and integration of decentralized applications that require cross-chain functionality. Secondary participants, including validators and node operators, engage in securing the network and maintaining its decentralized structure through staking and governance activities. By catering to these groups, THORChain helps create a robust ecosystem for decentralized finance applications, allowing users to swap assets across different blockchains without the need for centralized intermediaries.
How is THORChain secured?
THORChain is secured using a Tendermint-based consensus mechanism, which is a variant of Byzantine Fault Tolerance (BFT). Validators in the network confirm transactions and uphold the blockchain's integrity. These validators are required to bond a significant amount of RUNE, the native token, as collateral. This bonding process aligns incentives by rewarding validators with transaction fees and block rewards, while also imposing slashing penalties for malicious activities or downtime, thereby discouraging misconduct. The protocol employs cryptographic techniques such as Elliptic Curve Digital Signature Algorithm (ECDSA) for transaction authentication and data integrity. Regular audits and a bug bounty program contribute to the network’s security by identifying and addressing vulnerabilities. Additionally, THORChain's decentralized governance allows stakeholders to participate in decision-making processes, enhancing the robustness and adaptability of the network. These elements collectively ensure the security and resilience of THORChain.
Has THORChain faced any controversy or risks?
THORChain has experienced several security incidents, primarily involving technical vulnerabilities. Notably, in July 2021, THORChain suffered a series of exploits resulting in significant losses. The first major attack led to a loss of approximately $5 million, followed by another exploit shortly after, which resulted in a further $8 million loss. These incidents were due to vulnerabilities in the protocol's smart contracts. In response, the THORChain team temporarily halted operations to address the issues. They implemented patches and engaged in a comprehensive audit to enhance security. Additionally, the team set up a bug bounty program to incentivize the discovery and reporting of vulnerabilities by external security researchers. Ongoing risks for THORChain include technical challenges inherent in cross-chain protocols and market volatility. The project continues to mitigate these risks through regular audits, transparency in incident reporting, and community engagement to ensure robust security practices.
THORChain (RUNE) FAQ – Key Metrics & Market Insights
Where can I buy THORChain (RUNE)?
THORChain (RUNE) is widely available on centralized cryptocurrency exchanges. The most active platform is Binance Futures, where the RUNE/USDT trading pair recorded a 24-hour volume of over $4 191 991.55. Other exchanges include Binance and Binance.
What's the current daily trading volume of THORChain?
As of the last 24 hours, THORChain's trading volume stands at $4,268,558.05 , showing a 36.35% decline compared to the previous day. This suggests a short-term reduction in trading activity.
What's THORChain's price range history?
All-Time High (ATH): $21.29
All-Time Low (ATL): $0.007940
THORChain is currently trading ~98.00% below its ATH
and has appreciated +11,471% from its ATL.
What's THORChain's current market capitalization?
THORChain's market cap is approximately $144 321 906.00, ranking it #218 globally by market size. This figure is calculated based on its circulating supply of 338 797 570 RUNE tokens.
How is THORChain performing compared to the broader crypto market?
Over the past 7 days, THORChain has gained 6.77%, outperforming the overall crypto market which posted a 2.07% decline. This indicates strong performance in RUNE's price action relative to the broader market momentum.
Cryptocurrencies are highly volatile and involve significant risk. You may lose part or all of your investment.
All information on Coinpaprika is provided for informational purposes only and does not constitute financial or investment advice. Always conduct your own research (DYOR) and consult a qualified financial advisor before making investment decisions.
Coinpaprika is not liable for any losses resulting from the use of this information.
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THORChain Basics
| Hardware wallet | Yes |
|---|
| Website | thorchain.org |
|---|
| Source code | github.com |
|---|---|
| Asset type | Token |
| Contract Address |
| Explorers (1) | bscscan.com |
|---|
| Tags |
|
|---|
| reddit.com |
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THORChain Exchanges
THORChain Markets
What is Market depth?
Market depth is a metric, which is showing the real liquidity of the markets. Due to rampant wash-trading and fake activity - volume currently isn't the most reliable indicator in the crypto space.
What is it measuring?
It's measuring 1% or 10% section of the order book from the midpoint price (1%/10% of the buy orders, and 1%/10% of the sell orders).


Why it is important to use only 1% or 10%?
It's important, because measurement of the whole order book is going to give false results due to extreme values, which can make false illusion of liquidity for a given market.
How to use it?
By default Market depth is showing the most liquid markets sorted by Combined Orders (which is a sum of buy and sell orders). This way it provides the most interesting information already. Left (green) side of the market depth bar is showing how many buy orders are open, and right (red) side of the bar is showing how many sell orders are open (both can be recalculated to BTC, ETH or any fiat we have available on the site).


Confidence
Due to rampant malicious practices in the crypto exchanges environment, we have introduced in 2019 and 2020 new ways of evaluating exchanges and one of them is - Confidence. Because it's a new metric - it's essential to know how it works.
Confidence is weighted based on 3 principles:
Based on the liquidity from order books (75%) - including overall liquidity and market depth/volume ratio, volumes included, if exchange is low volume (below 2M USD volume 24h)
Based on web traffic (20%) - using Alexa rank as a main indicator of site popularity
Based on regulation (5%) - researching and evaluating licensing for exchange - by respective institutions
Adding all of these subscores give overall main result - Confidence
Confidence is mainly based on liquidity, because it's the most important aspect of cryptocurrency exchanges. Without liquidity there is no trading, illiquid markets tend to collapse in the long term. Besides liquidity - there is also an additional factor in calculation of score - market depth/volume ratio. If volume is huge (especially when it’s growing much faster than liquidity), and market depth seems to not keep pace with - it's reducing overall score. Exchanges that keep market makers liquidity with expanding volume are those that keep all ratios in-tact and have overall score above 75-80% (it means that they have all liquidity ratios above minimum requirements, high web traffic participation, and are often regulated).
Other coins worth interest - similar to THORChain
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 22 | Chainlink LINK | $5 846 122 205 | $9.33 | $341 481 191 | 626,849,970 | |||
| 90 | Cosmos ATOM | $700 231 374 | $1.79 | $41 001 945 | 390,934,204 | |||
| 173 | THETA THETA | $220 444 597 | $0.220445 | $104 728 723 | 1,000,000,000 | |||
| 215 | OriginTrail TRAC | $149 324 215 | $0.298651 | $1 208 513 | 499,995,033 | |||
| 235 | Fantom FTM | $123 892 706 | $0.044190 | $1 655.73 | 2,803,634,836 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 86 | Filecoin FIL | $733 146 585 | $0.948971 | $95 618 706 | 772,569,928 | |||
| 142 | DoubleZero 2Z | $310 212 783 | $0.089362 | $4 532 668 | 3,471,417,500 | |||
| 477 | Espresso ESP | $39 478 223 | $0.075839 | $3 500 215 | 520,550,000 | |||
| 518 | Brevis BREV | $33 506 720 | $0.134027 | $10 169 912 | 250,000,000 | |||
| 522 | Perle PRL | $32 935 297 | $0.188202 | $8 914 412 | 175,000,000 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 6 | USDC USDC | $78 510 749 361 | $1.000001 | $10 703 206 690 | 78,510,636,064 | |||
| 22 | Chainlink LINK | $5 846 122 205 | $9.33 | $341 481 191 | 626,849,970 | |||
| 24 | Binance Bitcoin BTCB | $5 546 500 046 | $75 867.21 | $43 197 841 | 73,108 | |||
| 30 | MemeCore M | $4 589 429 754 | $3.55 | $20 791 945 | 1,291,747,705 | |||
| 36 | Shiba Inu SHIB | $3 588 704 834 | $0.000006 | $87 632 071 | 589,264,883,286,605 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 10 | Hyperliquid HYPE | $14 765 980 727 | $44.22 | $129 857 447 | 333,928,180 | |||
| 22 | Chainlink LINK | $5 846 122 205 | $9.33 | $341 481 191 | 626,849,970 | |||
| 37 | Dai DAI | $3 329 607 859 | $1.000114 | $1 215 231 860 | 3,329,226,824 | |||
| 45 | Uniswap UNI | $2 021 403 268 | $3.37 | $136 059 614 | 600,425,074 | |||
| 46 | Official World Liberty Financial WLFI | $1 961 724 022 | $0.079522 | $24 629 256 | 24,669,070,265 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 10 | Hyperliquid HYPE | $14 765 980 727 | $44.22 | $129 857 447 | 333,928,180 | |||
| 45 | Uniswap UNI | $2 021 403 268 | $3.37 | $136 059 614 | 600,425,074 | |||
| 57 | Jupiter Perpetuals Liquidity Provider Token JLP | $1 353 709 630 | $3.90 | $5 908 239 | 347,206,682 | |||
| 94 | Jupiter Exchange Token JUP | $640 162 757 | $0.180285 | $15 752 887 | 3,550,835,739 | |||
| 104 | PancakeSwap CAKE | $509 061 543 | $1.55 | $32 079 955 | 328,217,075 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 56 | Internet Computer ICP | $1 381 490 192 | $2.50 | $29 036 905 | 551,876,724 | |||
| 73 | Algorand ALGO | $958 267 917 | $0.107620 | $39 650 656 | 8,904,197,496 | |||
| 75 | Render RENDER | $927 592 088 | $1.79 | $50 054 191 | 517,690,747 | |||
| 186 | LayerZero ZRO | $198 491 498 | $1.80 | $26 634 152 | 110,000,000 | |||
| 322 | Mina Protocol MINA | $74 829 528 | $0.059130 | $5 519 947 | 1,265,514,602 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 5 | BNB BNB | $87 838 152 475 | $631.09 | $894 139 705 | 139,184,442 | |||
| 28 | OKB OKB | $5 054 257 840 | $84.24 | $16 477 441 | 60,000,000 | |||
| 45 | Uniswap UNI | $2 021 403 268 | $3.37 | $136 059 614 | 600,425,074 | |||
| 60 | Bitget Token BGB | $1 300 662 189 | $1.86 | $32 544 599 | 699,992,035 | |||
| 64 | KuCoin Token KCS | $1 158 538 648 | $8.60 | $18 860 437 | 134,655,022 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 2 | Ethereum ETH | $283 950 387 531 | $2 357.88 | $10 723 207 058 | 120,426,316 | |||
| 7 | Solana SOL | $49 687 837 060 | $86.36 | $5 365 767 891 | 575,383,399 | |||
| 14 | Cardano ADA | $9 647 860 458 | $0.250150 | $388 776 315 | 38,568,357,959 | |||
| 32 | Avalanche AVAX | $3 967 130 330 | $9.39 | $303 892 390 | 422,275,285 | |||
| 34 | Sui SUI | $3 801 516 537 | $0.961584 | $301 287 548 | 3,953,388,932 |
What is Market depth?
Market depth is a metric, which is showing the real liquidity of the markets. Due to rampant wash-trading and fake activity - volume currently isn't the most reliable indicator in the crypto space.
What is it measuring?
It's measuring 1% or 10% section of the order book from the midpoint price (1%/10% of the buy orders, and 1%/10% of the sell orders).


Why it is important to use only 1% or 10%?
It's important, because measurement of the whole order book is going to give false results due to extreme values, which can make false illusion of liquidity for a given market.
What is showing Historical Market Depth?
Historical Market Depth is showing the history of liquidity from the markets for a given asset. It’s a measure of combined liquidity from all integrated markets on the coinpaprika’s market depth module.
THORChain


