Rune

Uniswap

THORChain

Frontier

<p>Decentralized exchange THORChain saw trading volume <a href="https://twitter.com/CBarraford/status/1723880833658855862" target="_blank" rel="noopener noreferrer nofollow">surge</a> to $1.32 billion over the past week, making it the third-largest DEX behind Uniswap and PancakeSwap.</p>
<p>The volume spike comes as users flock to THORChain’s native Rune token and liquidity pools, offering astronomical yields upwards of 300% APR.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="392" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-300-1024x392.png" alt="" class="wp-image-375756" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-300-1024x392.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-300-300x115.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-300-766x293.png 766w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-300-1536x587.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-300-2048x783.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-300-392x150.png 392w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-300-100x38.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-300-915x350.png 915w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-300-788x301.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-300.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Rune has rallied over 200% in the last 30 days, buoyed by the influx of volume and activity on THORChain. The DEX also processed $334 million in trades over the past 24 hours, second only to Uniswap.</p>
<p>The growth allowed THORChain to surpass Curve Finance in weekly volume after THORChain developer Chad Barraford predicted the “flippening” would occur by the end of 2023.</p>
<p>“This happened much faster than I thought. It just took 2 days instead of 2 months,” Barraford remarked on the speed of THORChain’s ascent.</p>
<p>As a decentralized exchange, THORChain allows users to trustlessly swap between assets like Bitcoin and Ether without an intermediary. This aligns with the ethos of Bitcoin, noted advocate Erik Voorhees.</p>
<p>Voorhees <a href="https://twitter.com/ErikVoorhees/status/1723729673744466218" target="_blank" rel="noopener noreferrer nofollow">highlighted</a> that THORChain processed nearly 2% of total Bitcoin spot trading volume over a recent 24-hour stretch, underscoring its increasing prominence.</p>
<p>The high interest rates available on THORChain through activities like providing liquidity help attract users to its platform. Certain pairs, like Bitcoin/Rune, offer APRs exceeding 350%.</p>
<p>THORChain was launched in 2018 by anonymous developers at a Binance-sponsored hackathon. The team designed the protocol as a way to facilitate cross-chain swaps between assets across multiple blockchain networks.</p>
<p>Read also:</p>
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<p>The platform saw its userbase swell this past year, alongside the broader rise of decentralized finance. By combining high capital efficiency with a decentralized ethos, THORChain has emerged as a popular on-ramp for trading bitcoin with composability.</p>
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<p>The post <a href="https://captainaltcoin.com/thorchain-volume-surges-to-3rd-among-dexs-discover-what-triggered-the-surge/" rel="noopener noreferrer nofollow">THORChain Volume Surges to 3rd Among DEXs: Discover What Triggered the Surge</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

THORChain Volume Surges to 3rd Among DEXs: Discover What Triggered the Surge

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