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THORChain has become the second-largest decentralized exchange (DEX) while its native token, <a href="https://crypto.news/price/thorchain/">RUNE</a>, registered a slight decline over the past day. 
According to data provided by DeFi Llama, <a href="https://crypto.news/top-cryptos-to-watch-this-week-btc-sol-rune/">THORChain</a>’s daily trading volume has reached $334.3 million, surpassing PancakeSwap and making it second to only Uniswap which has a $1.14 billion trading volume.&nbsp; 
<figure class="wp-block-image size-full">
 <img decoding="async" loading="lazy" width="1067" height="416" src="https://crypto.news/app/uploads/2023/11/THORChain-DEX-volume-Nov-13.png" alt="THORChain becomes second-largest DEX in daily trading volume - 28" class="wp-image-14214956">
 <figcaption class="wp-element-caption">
 Top 6 DEXs – Nov. 13 | Source: <a href="https://defillama.com/dexs" target="_blank" rel="noopener">DeFi Llama</a>
 </figcaption>
</figure> 
Per the data aggregator, THORChain’s weekly trading volume registered a 102% surge, reaching $1.32 billion, making it the third-largest DEX over the past seven days. According to DeFi Llama, THORChain’s total value locked still stands at $259.3 million. 
 You might also like: <a href="https://crypto.news/top-cryptos-to-watch-this-week-btc-sol-rune/"> Top cryptos to watch this week: BTC, SOL, RUNE </a> 
<h2 class="wp-block-heading" id="rune-price-slides">RUNE price slides</h2> 
Despite THORChain’s trading volume surge, its native token RUNE registered a 1.8% decline over the past 24 hours. <a href="https://crypto.news/rune-becomes-top-gainer-amid-binance-withdrawal-suspension/">RUNE</a> is trading at $5.18 with a market cap of $1.75 billion at the time of writing. 
<figure class="wp-block-image size-full">
 <img decoding="async" loading="lazy" width="3840" height="1300" src="https://crypto.news/app/uploads/2023/11/THORChain-RUNE-11.26.25-13-Nov-2023.png" alt="THORChain becomes second-largest DEX in daily trading volume - 29" class="wp-image-14214957">
 <figcaption class="wp-element-caption">
 RUNE price, social volume, Binance funding rate, and open interest – Nov. 13 | Source: <a href="https://app.santiment.net/charts/hdXxhYMa__sCl" target="_blank" rel="noopener">Santiment</a>
 </figcaption>
</figure> 
The asset’s 24-hour trading volume recorded a further drop, declining by 45% and closing down to the $400 million mark.&nbsp; 
According to data provided by the market intelligence platform Santiment, RUNE’s social volume also dropped by 27% over the past day. 
Per Santiment, RUNE’s total open interest (OI) declined from $78.9 million to $72.4 million over the past 24 hours. 
The decline comes while Santiment data shows that RUNE’s <a href="https://crypto.news/tag/binance/" data-type="link" data-id="https://crypto.news/tag/binance/">Binance</a> funding rate for futures contracts currently stands at around 0.02%. When an exchange’s funding rate hovers on the positive side, it indicates that the amount of short positions dominates the long position holders until further price movements. 
 Read more: <a href="https://crypto.news/ftx-lawsuit-bybit-recover-953-million-assets/"> FTX sues Bybit to recover $953m in assets </a>

THORChain becomes second-largest DEX in daily trading volume

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