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Learn more about THORChain
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THORChain (RUNE) price has increased today.
THORChain (RUNE) is priced at $5.45 today, with a 24-hour trading volume of $290,102,490.76. It is reflecting a 1.54% increase over the last 24 hours and a 18.27% increase over the past 7 days. With a circulating supply of 336 Million RUNE, THORChain’s current market cap is at $1,828,014,043.01.
Introducing THORChain (RUNE)
THORChain lets you swap cryptocurrencies easily across various networks without giving up control of your assets. It uses pools of funds instead of the traditional system of buy and sell orders to manage prices in an open way.
RUNE, its main token, is crucial for security, governance, and for all THORChain nodes to agree on changes.
It was financially backed by an initial offering on the Binance exchange in July 2019 and launched its main network in June 2022.
The Team Behind THORChain
The THORChain team doesn’t have typical leadership like a CEO or directors. Changes to its code and direction are decided by node operators through Gitlab, without central control.
The developers prefer to stay anonymous to keep the project decentralized and secure. In short, developers improve the system, nodes maintain security and function, liquidity providers bring in capital, and swappers and arbitrageurs keep the economy active by paying fees.
Unique Features of THORChain
THORChain solves a problem called “impermanent loss” for liquidity providers by using a special system of fees based on trading slippage.
The platform utilizes various technologies to allow users to swap tokens between different blockchains without needing advanced trading skills.
THORChain is not profit-driven, all platform fees go straight to participants, and the team earns by owning and using RUNE tokens just like everyone else.
The focus is moving towards using RUNE only on its native blockchain.
The Circulating Supply of THORChain (RUNE)
In late 2023, 336 million RUNE tokens are out there from a total of 500 million. Binance sold 20 million at first, and 130 million sold earlier.
The team locked 50 million tokens (10% of total) until the main network launch, then slowly released them.
They sold some to raise more money for the project. Now, the team holds less than 1% of all RUNE.
Security of the THORChain Network
THORChain keeps its network secure by using the Cosmos SDK and the Tendermint consensus mechanism.
This setup involves many validators working together to create and finalize transaction blocks, protecting against potential attacks.
Additionally, THORChain’s smart contracts have been audited by several external security companies, including Certik, and no issues were found.
Where to Purchase THORChain (RUNE)
You can buy and trade RUNE on several well-known exchanges like:
Most Used
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Binance is a great combination of low fees, deep liquidity and multiple cryptocurrencies and trading pairs. We have tested every aspect of it and it STILL holds its reign as the top exchange in the world. In our view, it is the perfect crypto exchange for both newbies and advanced traders alike.
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Biggest exchange in the world.
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Industry's lowest trading fees.
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Advance trading options like leverage trading.
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600+ crypto options, 150+ for the US.
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Lucrative on-site staking options.
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Hiccups in account verification.
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Less regulated than some competitors.
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The corporate structure is not transparently.
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Kucoin stands out among other crypto exchanges due to its impressive span of 1100 markets and 600 digital currencies. This, coupled with a user-friendly interface and secure investment environment, has made Kucoin an increasingly popular choice. However, US customers can not use the trading platform.
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Ability to earn interest on crypto.
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Low fees.
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Good customer service.
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Volume discounts on fees.
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Features like margin and futures trading.
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Not licensed in the U.S.
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Lack of investment programs.
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Low trading volume.
Coinweb’s Crypto Wiki can provide educational resources for those new to cryptocurrencies and interested in purchasing THORChain.
THORChain lets you swap different cryptocurrencies easily and safely.
THORChain doesn’t have typical leaders like a CEO; node operators make decisions through Gitlab.
RUNE, the main token, is vital for security and decision-making on THORChain.
THORChain uses the Cosmos SDK and Tendermint to protect its network, and external companies found no security issues in audits.
You can buy RUNE on exchanges like Binance and KuCoin.
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