Ethereum

Bitcoin

THORChain

Billion

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/thorchain-surpasses-10-billion-in-monthly-transaction-volume/" data-wpel-link="internal">THORChain Surpasses $10 Billion in Monthly Transaction Volume</a> 
The decentralized liquidity protocol THORChain has surpassed the $10 billion mark in total monthly transaction volume for the first time in history. However, <a href="https://coin-turk.com/eski-blackrock-direktoru-bitcoin-ve-kripto-para-mujdesini-verdi" data-wpel-link="internal">Bitcoin</a> maximalists are divided on whether the platform offers sufficient security to potential debtors. THORChain’s official social media account announced the milestone in a post on March 27th, with Runscan data showing the protocol reached $10.26 billion this month. 
<h2 class="p1" style="text-align: justify" id="significant-achievement-by-thorchain">Significant Achievement by THORChain</h2> 
Following the process, a series of comments and posts erupted among <a href="https://en.coin-turk.com/will-bitcoin-rise-analysis-of-support-and-resistance-levels/" data-wpel-link="internal">Bitcoin</a> maximalists about the security of THORChain and potential pitfalls for Bitcoin users seeking interest-free loans against their Bitcoins on the platform. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-334337" src="https://coin-turk.com/wp-content/uploads/2024/03/thor.webp" alt="" width="500" height="440"> 
Mathematician and Bitcoin investor Fred Krueger stated in a post on March 27th that he was willing to take the heat for declaring THORChain as legitimate, which implies that Bitcoin-backed loans on the protocol are a safe bet for Bitcoin users looking to earn more through liquid funds. However, Bitcoin analyst Dylan Le Clair did not support Krueger’s claims, stating: 
<blockquote> 
 “A %0 interest loan with no liquidation risk offered by a Bitcoin collateralized by an <a href="https://coin-turk.com/tam-29-gun-kaldi-xrp-fiyati-subat-sonunda-kac-dolar-olur" data-wpel-link="internal">altcoin</a> exchange rate is simply transferring risk. You’re shorting in a tail you don’t know how to measure.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-334338" src="https://coin-turk.com/wp-content/uploads/2024/03/fred-tweet-1.webp" alt="" width="500" height="475"> 
<h2 class="p1" style="text-align: justify" id="noteworthy-details-about-the-protocol">Noteworthy Details About the Protocol</h2> 
THORChain is a decentralized liquidity protocol that facilitates native asset swaps across blockchain networks. The protocol offers interest-free loans against major crypto assets like Bitcoin and <a href="https://coin-turk.com/bitcoin-ethereum-ve-yearn-finance-beklentileri-btc-eth-yfi-ve-2021" data-wpel-link="internal">Ethereum</a>, without enforcing liquidations or fixed maturity dates. 
As part of the protocol’s latest update on January 30th, collateral requirements for Bitcoin and <a href="https://en.coin-turk.com/ethereums-momentum-attracts-attention-amidst-bitcoins-decline/" data-wpel-link="internal">Ethereum</a> were reduced from 400% to 200%, allowing users to borrow up to half the total value of their provided assets. On March 10th, analyst Chris Blec described THORChain’s liquidation-free lending model as intriguing but highlighted two significant concerns with the concept. 
The first concern was investors taking on the risk of lending their Bitcoins to a protocol that could potentially collapse or fall victim to an attack, which THORChain had already experienced in 2021, though funds were returned. 
The second concern was investors exposing their loans to the risk of a central provider changing terms and conditions at a later date. Notably, THORChain had to halt its mainnet twice in 2023 due to reports of potential security vulnerabilities within the protocol. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/thorchain-surpasses-10-billion-in-monthly-transaction-volume/" data-wpel-link="internal">THORChain Surpasses $10 Billion in Monthly Transaction Volume</a></h5>

THORChain Surpasses $10 Billion in Monthly Transaction Volume

Table of Contents

COINTURK NEWS

Other articles published on Mar 28, 2024

Meme coins BONK, FLOKI skyrocket following DOGE’s multi-year high

Crypto Community Reacts To Sam Bankman-Fried's 25-Year Sentence: 'Will His Parents Ever Be Implic...

Bitcoin whales copy classic bull market moves as BTC price eyes $72K

Next Cryptocurrency To Explode Thursday, March 28 – GateToken, NFPrompt, Aevo

Indonesia’s Financial Watchdog to Take Charge of Cryptocurrency Regulation

Investors Eye Upcoming Major Token Releases in Cryptocurrency Market

Join our free newsletter for daily crypto updates!