The price of THORChain has increased 20% this week, surpassing a value of $3,8 per token, according to data from the CoinMarketCap platform.
ThorChain and its native cryptocurrency, RUNE, have seen an impressive surge in the last week. This is mainly due to conversations about a possible partnership with OKX, one of the main exchanges in the market, and the exponential growth that the network has had in the last year, breaking new records in terms of its number of active users and volume of operations transacted on the network.
RUNE price rises 20% weekly
According to data from the CoinMarketCap platform, RUNE is leading the cryptocurrency market, with an increase in its value of 20,25% weekly. The cryptocurrency has reached a price range above $3,8, at the time of writing this article.
Source: CoinMarketCap
This remarkable appreciation in the RUNE price It occurs in a context of optimism in the market, where investors are increasingly convinced that RUNE has long-term growth and innovation potential.
On X, rumors have spread about a possible integration of ThorChain with OKX, which seems to be changing investor perspectives, reflected in the price of the network's native cryptocurrency. ThorChain is an independent blockchain that is designed to facilitate the settlement and transaction of assets native to other blockchain networks, such as Bitcoin, Ethereum, among others, so its possible integration with the exchange platform would represent an innovation in the ecosystem in general.
X user @rykcrypt commented that the exchange has already been operating with ThorChain, managing a trading volume of $20 million with this blockchain in the last week. Likewise, the user pointed out that most of this trading volume has been transacted by large cryptocurrency holders, known as “whales.”
ThorChain breaks trading volume record
On the other hand, in addition to a possible new partnership in the crypto market, THORChain has had an exceptional year, surpassing a staggering $71.000 billion in terms of trading volume. According to experts, this volume is not only an indicator of commercial activity on the blockchain platform, but also reflects the confidence of users and investors in the crypto world in the ability of this blockchain to handle large volumes of transactions in a manner efficient and safe.
RUNE has been the most traded asset in the THORChain ecosystem, with a total purchase volume of $35.000 billion, according to data from the Web3 Flipside analytics platform, shared by chain analyst @0xhess, on DeFi space.
The network registers exponential growth in its user base
ThorChain has also seen impressive growth in its user base, reaching 510.000 unique users, as of August 12. This represents a 41% increase since the start of the year, according to Flipside.
Analysts in the crypto space highlight this growth as a testament to the platform's growing popularity in the competitive world of cryptocurrencies and decentralized finance (DeFi). Since January 2023, the number of weekly ThorChain users has increased dramatically, rising from approximately 2.000 to over 15.000 in a single weekly period.
Active user participation has been a key factor in ThorChain's success. The platform has recorded a total of 19,7 million transactions, underscoring its ability to attract and retain users. This, along with RUNE's recent price surge, is a clear indicator of the health and potential of this innovative blockchain platform.
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