PancakeSwap

Uniswap

THORChain

Read

<div class="cryptonews">
 <p class="is-style-lead">THORChain has become the second-largest decentralized exchange (DEX) while its native token, RUNE, registered a slight decline over the past day.</p>
 <p>According to data provided by DeFi Llama, THORChain’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;</p>
 <figure class="wp-block-image size-full"><picture decoding="async" class="wp-image-14214956">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/11/13/2f3d9808a19fc927e6f73b67a0743e92.webp.webp">
   <img decoding="async" width="1067" height="416" src="https://cdn.thebittimes.com/images/2023/11/13/2f3d9808a19fc927e6f73b67a0743e92.webp" alt="THORChain becomes second-largest DEX in daily trading volume - 1"> 
  </picture>
  <figcaption class="wp-element-caption">
   Top 6 DEXs – Nov. 13 | Source: DeFi Llama
  </figcaption>
 </figure>
 <p>Per the data aggregator, THORChain’s weekly <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> registered a 102% surge, reaching $1.32 billion, making it the third<a rel="noopener noreferrer nofollow" title="-largest" href="https://thebittimes.com/tag/largest.html">-largest</a> DEX over the past seven days. According to DeFi Llama, THORChain’s total value locked still stands at $259.3 million.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Top cryptos to watch this week: BTC, SOL, RUNE
 </div>
 <h2 class="wp-block-heading" id="rune-price-slides">RUNE price slides</h2>
 <p>Despite THORChain’s <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> surge, its native token RUNE registered a 1.8% decline over the past 24 hours. RUNE is <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> at $5.18 with a market cap of $1.75 billion at the time of writing.</p>
 <figure class="wp-block-image size-full"><picture decoding="async" class="wp-image-14214957">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/11/13/b2731fa54a191741b11777e2110c9695.webp.webp">
   <img decoding="async" width="3840" height="1300" src="https://cdn.thebittimes.com/images/2023/11/13/b2731fa54a191741b11777e2110c9695.webp" alt="THORChain becomes second-largest DEX in daily trading volume - 2"> 
  </picture>
  <figcaption class="wp-element-caption">
   RUNE price, social <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a>, Binance funding rate, and open interest – Nov. 13 | Source: Santiment
  </figcaption>
 </figure>
 <p>The asset’s 24-hour <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> recorded a further drop, declining by 45% and closing down to the $400 million mark.&nbsp;</p>
 <p>According to data provided by the market intelligence platform Santiment, RUNE’s social volume also dropped by 27% over the past day.</p>
 <p>Per Santiment, RUNE’s total open interest (OI) declined from $78.9 million to $72.4 million over the past 24 hours.</p>
 <p>The decline comes while Santiment data shows that RUNE’s Binance 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.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> FTX sues Bybit to recover $953m in assets
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/thorchain-becomes-second-largest-dex-in-daily-trading-volume-tbt70031.html">https://thebittimes.com/thorchain-becomes-second-largest-dex-in-daily-trading-volume-tbt70031.html</a></p>

THORChain becomes second-largest DEX in daily trading volume

Table of Contents

TheBitTimes

Other articles published on Nov 13, 2023

Mysterious Wallet Transfers 18 Million MATIC To Coinbase – What’s Going On?

DOGE and SHIB Price Analysis for November 13

Solana Sentuh Harga 60 Dolar, Akankah Terkoreksi atau Lanjut Naik?

Crypto investment products see surge amid ETF proposals

Cryptocurrency Scam Exploits AI to Impersonate Ripple CEO in YouTube Ad

China’s New Phishing Scam Targets Crypto Users Through Fake Skype App

Join our free newsletter for daily crypto updates!