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THORChain(RUNE)

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$1.6909
(-2.25%)
0.00006323 BTC
Market Cap (Rank#63)
$568,200,732
21,249 BTC
Vol 24h
$13,168,451
492.449 BTC
Circulating Supply
336,027,636
Max Supply
500,000,000
9h agocryptopotato
These Are This Week’s Best and Worst Performers as BTC Stagnates at $26.5K (Weekend Watch)
RUNE sits on one side of the ring, while LINK and IMX are on the other.
6 days agocointelegraph
Bitcoin price holds $26K as MKR, AAVE, RUNE and RNDR flash bullish signals
Bitcoin looks ready to start a relief rally and this could trigger interest in MKR, AAVE, RUNE and RNDR.
9 days agocointelegraph
Decentralized stablecoins could dominate crypto: MakerDAO founder
MakerDAO’s Rune Christensen says appropriate regulation will see stablecoins become mainstream, but the real opportunity is in decentralized stablecoins.
16 days agocryptopotato
Successful Moon Landing: The Moon Show Counts Over 500K Viewers
[PRESS RELEASE – Please Read Disclaimer] Dubai, 08.09.23 – A remarkable landing in front of 584,000 subscribers just took place. In an exciting venture that merges their passions for engaging with the community and the booming trend of live streaming, Carl Runefelt, founder of cryptojobs.com, and Maurizio Pedrazzoli Grazioli, also known as Mr. M, are […]
17 days agocryptopotato
Bitcoin Can’t Top $26K, BTC Addresses in Loss at 7-Month High: Market Watch
Today's top performers include ASTR, RUNE, and TON.
22 days agocryptodaily
MakerDAO CEO Proposes Using Solana’s Codebase For NewChain
Rune Christensen, the CEO of MakerDAO, has proposed using Solana’s codebase as the foundation for the protocol’s future blockchain, NewChain.
22 days agocointelegraph
MakerDAO co-founder proposes fork of Solana codebase for native chain
Rune Christensen stated that Solana’s codebase should be the foundation of MakerDAO’s upcoming blockchain, as he highlighted that it’s optimized for building “highly efficient blockchains.”
22 days agocointelegraph
The story of a crypto influencer’s attempt to bend reality
A bizarre tale about Carl ‘The Moon” Runefelt asking Cointelegraph to revise history on his behalf by concealing old claims that he co-founded a crypto app.
27 days agocryptopotato
PEPE’s Weekly Losses Exceed 20%, BTC Slips Below $26K (Market Watch)
Aside from PEPE, RUNE and APE are also in the red on a weekly scale.
28 days agonulltx
Top Tokens To Buy Before It’s Too Late: THORChain (RUNE), The Graph (GRT), Everlodge (ELDG)
Identifying promising tokens can mean seizing or missing an opportunity. This article will place a spotlight on three tokens – THORChain (RUNE), The Graph (GRT), and Everlodge (ELDG). These tokens have garnered attention for their unique features and are worth considering before it’s too late. Summary THORChain announces the launch of its lending protocol The […]
33 days agonulltx
A Stellar Ascent: Decoding THORChain’s (RUNE) 65% Price Spike; Can InQubeta (QUBE) Join the Rally?
InQubeta (QUBE) has sold over $2.2 million in tokens early in its presale, but it’s not the only top altcoin generating interest with investors. THORChain (RUNE) prices have risen by over 65% in August and some cryptocurrency analysts are expecting InQubeta to enjoy similar growth once it’s launched on exchanges. The structure of the InQubeta […]
34 days agocointelegraph
HBAR, OP, INJ and RUNE flash bull signals as Bitcoin price looks for stability
Bitcoin is searching for stability in the $25,000 zone, meanwhile, HBAR, OP, INJ and RUNE price looked primed for further upside.
35 days agocryptopotato
RUNE Defies Market Sentiment With 30% Weekly Surge, BTC Uncertain at $26K: Market Watch
THORChain's native token is among the few with weekly increases amid the broader market crash.
38 days agocryptodaily
Binance token BNB on the edge of oblivion
$BNB, the Binance exchange token, is on the brink of a potential heavy collapse. Will this bring Bitcoin and the crypto market down? $BNB on the brink Following negative downward price action since November 2021, the $BNB token has reached the point where a slide under the critical $220 level could lead to a calamitous -5x crash down to below $50. Right now the price is struggling to stay within the bottom limits of a bear flag it first entered in early June of this year. The price has already slid out of the bottom of the bear flag at time of going to press, but this break is still to be confirmed. A nervousness does still appear to be upon the crypto market over recent weeks as bears and bulls both eye bitcoin and ethereum as they approach their own critical trendlines and support levels. Bitcoin and Ethereum also at critical levels If bitcoin hits the support of its bullish trendline this is likely to be as low as $28,000. The 200 daily moving average is just below this at $27,300. In its favour, the bitcoin hash ribbons indicator very recently signalled a buy. Ethereum is already at and holding its bullish trendline at just under $1,800. This is also the level of its 200 day moving average. Both bitcoin and ethereum could see a significant price drop if these levels break. Altcoins having a good day The rest of the altcoin market is mostly doing a lot better than either bitcoin or ethereum so far today. Total 3 (all cryptos with the exception of bitcoin and ethereum) is up 1% on the day so far. Strong support at $331 billion is below the current value of just under $337 billion. $RUNE is still on the charge this morning with a more than 6% gain so far. This is counted in $RUNEs epic 70% rise since the beginning of August, making this crypto one of the biggest movers over the last couple of weeks. Kaspa ($KAS) has also featured prominently among the altcoins but more so over the longer term. The innovative proof-of-work layer 1 rose more than 330% since May, but has been correcting over the last couple of weeks. It is up 3.6% on the day so far. A $BNB wipeout could mean serious issues for crypto The question now is whether or not $BNB can hold its ground at $220 if it should get down there. Many will be shorting the token given how the SEC is suing both Binance and its CEO Changpeng Zhao. Should $BNB indeed make the drop, the token, as well as the exchange, could be in serious financial trouble. With Binance accounting for much of the trade in crypto, plus holding large amounts of many other tokens, such a scenario could be calamitous for the exchange, as well as for the crypto market in general. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
38 days agocryptodaily
Binance token BNB on the edge of oblivion
$BNB, the Binance exchange token, is on the brink of a potential heavy collapse. Will this bring Bitcoin and the crypto market down? $BNB on the brink Following negative downward price action since November 2021, the $BNB token has reached the point where a slide under the critical $220 level could lead to a calamitous -5x crash down to below $50. Right now the price is struggling to stay within the bottom limits of a bear flag it first entered in early June of this year. The price has already slid out of the bottom of the bear flag at time of going to press, but this break is still to be confirmed. A nervousness does still appear to be upon the crypto market over recent weeks as bears and bulls both eye bitcoin and ethereum as they approach their own critical trendlines and support levels. Bitcoin and Ethereum also at critical levels If bitcoin hits the support of its bullish trendline this is likely to be as low as $28,000. The 200 daily moving average is just below this at $27,300. In its favour, the bitcoin hash ribbons indicator very recently signalled a buy. Ethereum is already at and holding its bullish trendline at just under $1,800. This is also the level of its 200 day moving average. Both bitcoin and ethereum could see a significant price drop if these levels break. Altcoins having a good day The rest of the altcoin market is mostly doing a lot better than either bitcoin or ethereum so far today. Total 3 (all cryptos with the exception of bitcoin and ethereum) is up 1% on the day so far. Strong support at $331 billion is below the current value of just under $337 billion. $RUNE is still on the charge this morning with a more than 6% gain so far. This is counted in $RUNEs epic 70% rise since the beginning of August, making this crypto one of the biggest movers over the last couple of weeks. Kaspa ($KAS) has also featured prominently among the altcoins but more so over the longer term. The innovative proof-of-work layer 1 rose more than 330% since May, but has been correcting over the last couple of weeks. It is up 3.6% on the day so far. A $BNB wipeout could mean serious issues for crypto The question now is whether or not $BNB can hold its ground at $220 if it should get down there. Many will be shorting the token given how the SEC is suing both Binance and its CEO Changpeng Zhao. Should $BNB indeed make the drop, the token, as well as the exchange, could be in serious financial trouble. With Binance accounting for much of the trade in crypto, plus holding large amounts of many other tokens, such a scenario could be calamitous for the exchange, as well as for the crypto market in general. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
41 day agocryptodaily
Crypto Weekly Roundup: Binance Buys CRV, Fed Against PayPal, And
The $5 million investment from Binance Labs in the CRV token is part of a strategic deal under which Curve will explore deployment to the BNB Chain. Let’s find out more. Ethereum Less than a day after PayPal’s huge announcement, Ethereum became flooded by imposter tokens trying to ride the hype. DeFi The Curve protocol is trying to track down the lost funds and the hacker by offering a $1.85 million reward to anyone identifying the exploiter. Binance Labs, the venture capital and incubation division of Binance, has plunged $5 million into the Curve DAO Token (CRV), cementing its stance in the DeFi realm. The MakerDAO founder, Rune Christensen, announced an airdrop for the Spark Protocol’s native SPK token. The Aave community has started voting on three crucial proposals that could help significantly reduce the protocol’s exposure to Curve Finance’s CRV token. Cardano-based DEX, MuesliSwap, has taken the decision to refund users who faced unintended losses due to slippage mechanics on the platform. Solana-based DEX, Cypher Protocol, disclosed on August 7th that a significant security breach occurred on their platform. Altcoins Yield Guild Games surged nearly 600% in less than a week, smashing through the top gainers' charts before abruptly crashing. Business Asian crypto exchange, Huobi, is doing its best to dispel the arrest and financial stability rumors that have led to a flight of funds. As Bitcoin breaks higher, rating agency Moody’s downgraded 10 US banks on Monday, with negative rating actions on many more. In a groundbreaking move, video game commerce giant Xsolla has teamed up with cryptocurrency platform, Crypto.com. OPNX, the newly launched crypto exchange by founders of the now-defunct Three Arrows Capital (3AC), has reportedly launched a bid to take over struggling crypto lender Hodlnaut. Binance has published its August 2023 reserve report, showcasing a reserve ratio well over 100% for all of its major cryptocurrency holdings. Regulation South Korean authorities have arrested the CEO of the Bitsonic crypto exchange, Jinwook Shin, for allegedly stealing $7.5 million dollars of user funds. The Federal Reserve has issued a new announcement obliging banks to jump through extremely exacting requirements in order to do business with crypto entities. Crypto exchange Bittrex has agreed to a $24 million settlement with the SEC, bringing to close allegations of offering unregistered securities to American investors. The French financial regulator announced amendments to its registration requirements for digital asset service providers as it prepares for MiCA’s implementation. Hong Kong’s Securities and Futures Commission (SFC) issued a warning addressing investors against crypto platforms “engaging in improper practices.” Bitstamp announced that it would suspend trading for several cryptocurrencies identified as securities by the SEC in cases against Binance and Coinbase. Binance announced that it had become the first fully licensed cryptocurrency trading platform in the country of El Salvador. Stakeholders of blockchain-based trading protocol Mango Markets are grappling with financial challenges as the platform faces mounting legal expenses in the aftermath of its exploit. Blockchain.com has secured a payments license from Singapore's regulatory body, the Monetary Authority of Singapore (MAS). Prominent crypto analyst and investor Adam Cochran has called into question the solvency of Huobi, the 12th largest cryptocurrency exchange globally by spot trading volume. Web3 India has challenged its residents to develop an indigenous web browser with the feature of signing documents digitally through crypto tokens. The waitlist for the integration of a self-custody wallet, TON Space, within Telegram Messenger, is now available for developers. The new collaboration between Microsoft and Aptos Labs will use the best of AI and blockchain technologies to drive Web3 to the masses. Prominent stablecoin issuer Circle announces the launch of its Web3 Programmable Wallets public beta version for developers on three blockchains. Security Venture capital firm Blockchain Capital fell victim to a sophisticated phishing scam after its social media account on X, previously known as Twitter, was hijacked. DeFi stalwart, MakerDAO, is facing heightened scrutiny after the introduction of its new platform, Spark Protocol. Steadefi has become the latest DeFi entity to be hit with an exploit, with the company stating in a tweet on X that all the funds it currently holds are at risk of becoming irrecoverable. Alchemix, a lending platform, has reported that all the funds stolen by the Curve Finance hacker from Alchemix’s alETH-ETH pool have been returned. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
41 day agocryptodaily
Crypto Weekly Roundup: Binance Buys CRV, Fed Against PayPal, And
The $5 million investment from Binance Labs in the CRV token is part of a strategic deal under which Curve will explore deployment to the BNB Chain. Let’s find out more. Ethereum Less than a day after PayPal’s huge announcement, Ethereum became flooded by imposter tokens trying to ride the hype. DeFi The Curve protocol is trying to track down the lost funds and the hacker by offering a $1.85 million reward to anyone identifying the exploiter. Binance Labs, the venture capital and incubation division of Binance, has plunged $5 million into the Curve DAO Token (CRV), cementing its stance in the DeFi realm. The MakerDAO founder, Rune Christensen, announced an airdrop for the Spark Protocol’s native SPK token. The Aave community has started voting on three crucial proposals that could help significantly reduce the protocol’s exposure to Curve Finance’s CRV token. Cardano-based DEX, MuesliSwap, has taken the decision to refund users who faced unintended losses due to slippage mechanics on the platform. Solana-based DEX, Cypher Protocol, disclosed on August 7th that a significant security breach occurred on their platform. Altcoins Yield Guild Games surged nearly 600% in less than a week, smashing through the top gainers' charts before abruptly crashing. Business Asian crypto exchange, Huobi, is doing its best to dispel the arrest and financial stability rumors that have led to a flight of funds. As Bitcoin breaks higher, rating agency Moody’s downgraded 10 US banks on Monday, with negative rating actions on many more. In a groundbreaking move, video game commerce giant Xsolla has teamed up with cryptocurrency platform, Crypto.com. OPNX, the newly launched crypto exchange by founders of the now-defunct Three Arrows Capital (3AC), has reportedly launched a bid to take over struggling crypto lender Hodlnaut. Binance has published its August 2023 reserve report, showcasing a reserve ratio well over 100% for all of its major cryptocurrency holdings. Regulation South Korean authorities have arrested the CEO of the Bitsonic crypto exchange, Jinwook Shin, for allegedly stealing $7.5 million dollars of user funds. The Federal Reserve has issued a new announcement obliging banks to jump through extremely exacting requirements in order to do business with crypto entities. Crypto exchange Bittrex has agreed to a $24 million settlement with the SEC, bringing to close allegations of offering unregistered securities to American investors. The French financial regulator announced amendments to its registration requirements for digital asset service providers as it prepares for MiCA’s implementation. Hong Kong’s Securities and Futures Commission (SFC) issued a warning addressing investors against crypto platforms “engaging in improper practices.” Bitstamp announced that it would suspend trading for several cryptocurrencies identified as securities by the SEC in cases against Binance and Coinbase. Binance announced that it had become the first fully licensed cryptocurrency trading platform in the country of El Salvador. Stakeholders of blockchain-based trading protocol Mango Markets are grappling with financial challenges as the platform faces mounting legal expenses in the aftermath of its exploit. Blockchain.com has secured a payments license from Singapore's regulatory body, the Monetary Authority of Singapore (MAS). Prominent crypto analyst and investor Adam Cochran has called into question the solvency of Huobi, the 12th largest cryptocurrency exchange globally by spot trading volume. Web3 India has challenged its residents to develop an indigenous web browser with the feature of signing documents digitally through crypto tokens. The waitlist for the integration of a self-custody wallet, TON Space, within Telegram Messenger, is now available for developers. The new collaboration between Microsoft and Aptos Labs will use the best of AI and blockchain technologies to drive Web3 to the masses. Prominent stablecoin issuer Circle announces the launch of its Web3 Programmable Wallets public beta version for developers on three blockchains. Security Venture capital firm Blockchain Capital fell victim to a sophisticated phishing scam after its social media account on X, previously known as Twitter, was hijacked. DeFi stalwart, MakerDAO, is facing heightened scrutiny after the introduction of its new platform, Spark Protocol. Steadefi has become the latest DeFi entity to be hit with an exploit, with the company stating in a tweet on X that all the funds it currently holds are at risk of becoming irrecoverable. Alchemix, a lending platform, has reported that all the funds stolen by the Curve Finance hacker from Alchemix’s alETH-ETH pool have been returned. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
41 day agonulltx
Top 6 Trending Cryptocurrencies For Trading This Week: HBAR, BAKE, APE, LIT, BLZ, RUNE
LunarCrush, a social media analytics platform for crypto, has revealed the top trending cryptocurrencies for trading this week. The coins on the list have seen a significant increase in social media mentions and activity, which could indicate that they are poised for further price gains. The top trending coins for trading this week are: HBAR […]
42 days agocryptopotato
THORChain’s RUNE Explodes 20% in a Day, Bitcoin (BTC) Stalls at $29K (Weekend Watch)
Aside from RUNE, the other top gainer from the larger-cap alts is Toncoin.
44 days agocryptodaily
MakerDAO Announces Airdrop For Spark Protocol Governance Token
The MakerDAO founder, Rune Christensen, has announced an airdrop for the Spark Protocol’s native SPK token. According to the proposal, the tokens will be released gradually, with the proposal outlining the distribution of two billion SPK tokens over the next ten years. The SPK Token Airdrop The proposal is aimed at promoting long-term engagement with the platform and outlines the eventual distribution of two billion SPK tokens over ten years in an effort to incentivize the continued usage of the Spark Protocol. The SPK token will also act as a governance token for SparkDAO. “The goal of the SPK pre-farming airdrop is to give users and borrow-arbers a reason to keep using Spark Protocol if the EDSR proposal to increase stability fees to 5% goes through.” According to Rune, the proposal would be an avenue for the community to secure SPK tokens before the launch of the SubDAO, with Rune stating on X, “I posted an overview of the potential SparkDAO SPK pre-farming airdrop for early users of http://sparkprotocol.io borrowing: This would be a way to secure early SPK tokens before the SubDAOs launch (Farming not available to US and VPN users)” Spark Expected To Become SubDAO Spark Protocol is a lending protocol that has been introduced by MakerDAO. The protocol provides DeFi loans, sourcing liquidity directly from Maker. As collateral, the protocol accepts several assets, such as DAI, ETH, and Staked ETH. Spark Protocol eventually aims to become a SubDAO, which marks a significant step in Maker’s Endgame Plan. As a subDAO, Spark will be an entirely independent, decentralized autonomous organization within MakerDAO. The Endgame plan envisions the creation of several subDAOs similar to Spark, each governed by its own distinct community and token. A Way To Incentivize Usage The SubDAO tokens will be allocated to Spark borrowers and will utilize several assets as collateral, distributed proportionately towards the amount and duration of borrowing. According to Christensen, the aim is to bootstrap a community of users and DAO participants whose goals are aligned with SparkDAO. “We want to bootstrap a community of users and DAO participants that are aligned with the mission and potential of SparkDAO.” The eventual goal is to incentivize the Spark token’s active usage, despite it offering a 5% yield on DAI deposits, also called Enhanced DAI Savings Rate. The EDSR on Spark climbed to 8% earlier in the week, resulting in a significant inflow of capital as users rushed to leverage borrowing arbitrage opportunities. This saw users borrow DAI at lower rates and then deploy it for higher yields in EDSR. Maker’s new Spark Protocol has courted controversy following its launch after it emerged that the protocol’s terms of service actively prevented users from accessing the platform through virtual private networks (VPNs). By limiting VPN access, MakerDAO appeared to be restricting US-based users from accessing the platform. Maker’s Endgame Plan MakerDAO’s Endgame is a significant update planned to enhance the protocol’s efficiency, resilience, and participation. It aims to do this by creating a strong governance equilibrium that would act as the bedrock for SubDAOs, helping parallelize growth and innovation in a community-driven ecosystem. In the short term, Endgame hopes to enhance the supply of DAI to over 100 billion within three years. It also aims to ensure that the Maker ecosystem is anchored in a vibrant and independent DAO economy that could grow at an accelerating rate. At the same time, it would also maintain governance equilibrium, ensuring it could scale to any size. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
44 days agocryptodaily
MakerDAO Announces Airdrop For Spark Protocol Governance Token
The MakerDAO founder, Rune Christensen, has announced an airdrop for the Spark Protocol’s native SPK token. According to the proposal, the tokens will be released gradually, with the proposal outlining the distribution of two billion SPK tokens over the next ten years. The SPK Token Airdrop The proposal is aimed at promoting long-term engagement with the platform and outlines the eventual distribution of two billion SPK tokens over ten years in an effort to incentivize the continued usage of the Spark Protocol. The SPK token will also act as a governance token for SparkDAO. “The goal of the SPK pre-farming airdrop is to give users and borrow-arbers a reason to keep using Spark Protocol if the EDSR proposal to increase stability fees to 5% goes through.” According to Rune, the proposal would be an avenue for the community to secure SPK tokens before the launch of the SubDAO, with Rune stating on X, “I posted an overview of the potential SparkDAO SPK pre-farming airdrop for early users of http://sparkprotocol.io borrowing: This would be a way to secure early SPK tokens before the SubDAOs launch (Farming not available to US and VPN users)” Spark Expected To Become SubDAO Spark Protocol is a lending protocol that has been introduced by MakerDAO. The protocol provides DeFi loans, sourcing liquidity directly from Maker. As collateral, the protocol accepts several assets, such as DAI, ETH, and Staked ETH. Spark Protocol eventually aims to become a SubDAO, which marks a significant step in Maker’s Endgame Plan. As a subDAO, Spark will be an entirely independent, decentralized autonomous organization within MakerDAO. The Endgame plan envisions the creation of several subDAOs similar to Spark, each governed by its own distinct community and token. A Way To Incentivize Usage The SubDAO tokens will be allocated to Spark borrowers and will utilize several assets as collateral, distributed proportionately towards the amount and duration of borrowing. According to Christensen, the aim is to bootstrap a community of users and DAO participants whose goals are aligned with SparkDAO. “We want to bootstrap a community of users and DAO participants that are aligned with the mission and potential of SparkDAO.” The eventual goal is to incentivize the Spark token’s active usage, despite it offering a 5% yield on DAI deposits, also called Enhanced DAI Savings Rate. The EDSR on Spark climbed to 8% earlier in the week, resulting in a significant inflow of capital as users rushed to leverage borrowing arbitrage opportunities. This saw users borrow DAI at lower rates and then deploy it for higher yields in EDSR. Maker’s new Spark Protocol has courted controversy following its launch after it emerged that the protocol’s terms of service actively prevented users from accessing the platform through virtual private networks (VPNs). By limiting VPN access, MakerDAO appeared to be restricting US-based users from accessing the platform. Maker’s Endgame Plan MakerDAO’s Endgame is a significant update planned to enhance the protocol’s efficiency, resilience, and participation. It aims to do this by creating a strong governance equilibrium that would act as the bedrock for SubDAOs, helping parallelize growth and innovation in a community-driven ecosystem. In the short term, Endgame hopes to enhance the supply of DAI to over 100 billion within three years. It also aims to ensure that the Maker ecosystem is anchored in a vibrant and independent DAO economy that could grow at an accelerating rate. At the same time, it would also maintain governance equilibrium, ensuring it could scale to any size. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
44 days agocryptodaily
MakerDAO's Spark Protocol Sparks Privacy Concerns
MakerDAO, a decentralized finance (DeFi) stalwart, is facing heightened scrutiny after the introduction of its new platform, Spark Protocol. The controversy arises from Spark Protocol's terms of service, which actively prevent users from accessing the platform via virtual private networks (VPNs). By limiting VPN access, it appears MakerDAO is attempting to restrict U.S. users from the platform, causing a ripple effect on global user rights and igniting concerns over privacy in the DeFi sector. The decision to restrict VPN access follows closely on the heels of Rune Christensen, MakerDAO's founder, announcing the potential for DAI stablecoin holders to earn up to 8% returns via the DAI Savings Rate (DSR) on Spark Protocol. The appeal of these high yields comes from a system adjustment: when DSR adoption is sparse, the rate increases to attract users. Despite only 9% of DAI holders currently participating in DSR, the platform's mechanism automatically optimizes rates based on user engagement. Despite these prospective states, behind this innovative yield mechanism lies a broader issue. The DeFi space, characterized by its decentralized ethos and user autonomy, is now confronting questions about the balance between regulatory compliance and individual privacy rights. Chris Blec, a DeFi analyst, voiced strong concerns over Spark Protocol's VPN restrictions. Blec's stance is that MakerDAO's decision could compromise global user privacy, potentially prioritizing profit motives over decentralized principles. This contention around user rights and access isn't isolated. Over the past year, DAI's market trajectory experienced turbulence. Its market cap plummeted by 43%, from $7B to $4B, after a destabilizing event in March when both DAI and USDC stablecoins momentarily dropped below their usual peg. Concerns arose about the solvency of USDC's banking partners, and since DAI's collateral heavily comprised USDC, both tokens suffered. MakerDAO's strategy, introducing high DSR yields through Spark Protocol, aims to bolster its position in the volatile stablecoin ecosystem. On the contrary, by blocking VPN access, MakerDAO has placed itself in the crosshairs of a larger debate around the intersection of regulatory compliance, decentralized operations, and user rights in the crypto domain. While it remains that there is a need to evaluate the implications of MakerDAO's recent decisions, the line between user privacy and platform governance is set to be a defining conversation in the industry's DeFi sector. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
44 days agocryptodaily
MakerDAO's Spark Protocol Sparks Privacy Concerns
MakerDAO, a decentralized finance (DeFi) stalwart, is facing heightened scrutiny after the introduction of its new platform, Spark Protocol. The controversy arises from Spark Protocol's terms of service, which actively prevent users from accessing the platform via virtual private networks (VPNs). By limiting VPN access, it appears MakerDAO is attempting to restrict U.S. users from the platform, causing a ripple effect on global user rights and igniting concerns over privacy in the DeFi sector. The decision to restrict VPN access follows closely on the heels of Rune Christensen, MakerDAO's founder, announcing the potential for DAI stablecoin holders to earn up to 8% returns via the DAI Savings Rate (DSR) on Spark Protocol. The appeal of these high yields comes from a system adjustment: when DSR adoption is sparse, the rate increases to attract users. Despite only 9% of DAI holders currently participating in DSR, the platform's mechanism automatically optimizes rates based on user engagement. Despite these prospective states, behind this innovative yield mechanism lies a broader issue. The DeFi space, characterized by its decentralized ethos and user autonomy, is now confronting questions about the balance between regulatory compliance and individual privacy rights. Chris Blec, a DeFi analyst, voiced strong concerns over Spark Protocol's VPN restrictions. Blec's stance is that MakerDAO's decision could compromise global user privacy, potentially prioritizing profit motives over decentralized principles. This contention around user rights and access isn't isolated. Over the past year, DAI's market trajectory experienced turbulence. Its market cap plummeted by 43%, from $7B to $4B, after a destabilizing event in March when both DAI and USDC stablecoins momentarily dropped below their usual peg. Concerns arose about the solvency of USDC's banking partners, and since DAI's collateral heavily comprised USDC, both tokens suffered. MakerDAO's strategy, introducing high DSR yields through Spark Protocol, aims to bolster its position in the volatile stablecoin ecosystem. On the contrary, by blocking VPN access, MakerDAO has placed itself in the crosshairs of a larger debate around the intersection of regulatory compliance, decentralized operations, and user rights in the crypto domain. While it remains that there is a need to evaluate the implications of MakerDAO's recent decisions, the line between user privacy and platform governance is set to be a defining conversation in the industry's DeFi sector. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
51 day agocryptodaily
First of its kind: Dash x Maya Protocol Unlocks Multichain Trading
Today, the DeFi space witnessed a groundbreaking moment as Maya Protocol announced its integration with the Dash blockchain. This milestone marks the first-ever opportunity for Dash users to engage in decentralized and permissionless trading, unlocking a new era of possibilities. Maya Protocol, a decentralized liquidity platform, empowers users to exchange cryptocurrency assets across multiple networks while retaining complete control of their tokens in a permissionless manner. Dash, renowned for its focus on speed, privacy, and self-governance, is among the oldest cryptocurrencies still in circulation. Its continuous technological advancements and growing adoption as a digital payment method make it a highly usable cryptocurrency. By integrating Dash into Maya, a seamless connection is established, enabling frictionless exchange between Dash and other crypto assets without relying on centralized intermediaries. The synergy between Dash's attributes and Maya's mission of facilitating fluid cross-chain liquidity amplifies the benefits of both protocols. Maya's ability to handle Dash transactions sets it apart from others, demonstrating its expertise in the decentralized ecosystem, particularly in terms of interoperability and composability. Dash represents the first unique integration for Maya, compared to Thorchain. As a result of this collaboration, Maya gains exposure to Dash's extensive user base, loyal community, and real-world use cases as digital cash. Retail users stand to benefit from increased trading opportunities (Maya supports BTC, ETH, RUNE, USDT, and USDC) and yield generation with their Dash tokens by becoming liquidity providers. Beyond individual growth, this integration reflects the evolution and progress of the decentralized finance ecosystem. It showcases the potential of DeFi in driving innovation and disrupting traditional financial models. Maya and Dash exemplify their commitment to pioneering decentralized systems and reshaping the financial landscape. To delve deeper into this game-changing integration, visit the official web resources of both protocols. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About THORChain?

The live price of THORChain (RUNE) today is 1.6909 USD, and with the current circulating supply of THORChain at 336,027,636 RUNE, its market capitalization stands at 568,200,732 USD. In the last 24 hours RUNE price has moved -0.0246 USD or -0.01% while 13,853,492 USD worth of RUNE has been traded on various exchanges. The current valuation of RUNE puts it at #63 in cryptocurrency rankings based on market capitalization.

Learn more about the THORChain blockchain network and how it works or follow the price of its native cryptocurrency RUNE and the broader market with our unique COIN360 cryptocurrency heatmap.

As the crypto market matures, the need for cross-network liquidity increases —  THORChain aims to fill that gap. Built as a cross-chain liquidity network using the Cosmo SDK, it strives to make all crypto liquid and decentralized with its native token RUNE serving as a trading token between non-native crypto assets like BTC and ETH. Broadly speaking, THORChain does exactly what Binance, Coinbase, and other exchanges do but without a third-party ever getting involved.

THORChain was founded back in 2018 by a mostly anonymous team during a hackathon, the protocol’s mainnet release multi-chain chaos network (MCCN) went live in April 2021 after initial development testing. Unlike Uniswap, SushiSwap, and Curve, THORChain is not limited to just ERC-20 or BEP-20 tokens, instead, you can swap between different blockchains with relatively low costs and high speeds, all through a decentralized exchange (DEX). 

RUNE price

According to our RUNE/USD live price chart, THORChain saw its first bull run in Q1 of 2021, when RUNE went from under $0.9 in December 2020 to a peak of around $6.7 on March. 11, 2021 — a gain of over 700%. Although RUNE hit a rough patch for a couple of days during March, it saw another rally that took it from $4.9 on March. 25, 2021 to $21.2 by May. 19, 2021, setting an all-time high with a rather impressive gain of 350%+ in just 55 days. At the time, RUNE's fully diluted valuation stood at $10.6 billion given the token's max supply of 500,000,000.

However, as the market sentiment grew bearish in May 2021, RUNE saw a steep decline in the coming months.

THORChain saw some noteworthy price action between July and November 2021, as the price of RUNE cryptocurrency rallied from $4.8 on July. 22, 2021, to around $17.2 by Nov. 2, 2021.

Despite the market falling in Q4 of 2021 and continuing this downward spiral into 2022, RUNE managed to stay within the top 50 coins by market cap in Q2 2022, while trading around $8.

How RUNE works

At its core, THORChain RUNE is an independent Layer-1 blockchain built using the Cosmos SDK and the Tendermint byzantine-fault-tolerant (BFT) consensus mechanism, allowing the network to reach a consensus even if ⅓ of the nodes start failing.

It also employs the proof-of-stake (PoS) mechanism for Sybil resistance. This means the blockchain is secured by node operators also known as validators who authorize swaps and in return earn rewards for creating pools or vaults for assets. 

An asset is sent to a pool or vault when a swap is made on the THORChain blockchain. To ensure the swap is made and the designated address receives the coins, Threshold Signature Schemes (TSS) is used, where ⅔ of nodes confirm that the transaction was successful. 

There are 100 to 300 node operator spots. These spots are recycled regularly in a process called “churning”, where sets of nodes are switched every 50,000 blocks, which is roughly around 3 days to avoid any bad nodes taking over the network and capturing it. 

To be eligible for a spot on the THORChain blockchain, nodes must bond (i.e stake) $1 million RUNE coins. Nodes that act accordingly are rewarded a portion of the protocol’s income, while bad nodes lose their bonded RUNE coins. 

THORChain (RUNE) protocol also uses the AMM (Automated market makers) model. AMMs are DEXs that pool liquidity from users and generate prices based on the respective amount of each asset held inside the pool. Liquidity providers are granted a small portion of the fee paid by traders while receiving RUNE rewards for depositing RUNE and one other asset to the liquidity pool.

RUNE news, updates, and highlights

In April 2021, ShapeShift, an international non-custodial cryptocurrency exchange announced that it had enabled cross-chain swaps via THORChain and Ethereum-based DEX trading on their web platform. 

Founder and CEO of ShapeShift, Erik Voorhees, said, “We are very excited to offer users more options for trading in the manner they prefer—be it on mobile, web, software wallet or hardware wallet, ETH or native BTC, while at the same time providing the best incentives available in DEX trading”. 

The company also added RUNE to its KeepKey and ShapeShift native wallets. 

THORChain RUNE suffered a massive security breach in July 2021, when a hacker tricked the network’s Bifrost protocol into receiving fake assets on the ETH Router with a custom contract. This cost the company $8 million and resulted in the immediate halting of ETH activity on the THORChain blockchain.  Just a week prior to this incident, THORChain suffered another attack which resulted in the loss of 4k ETH from the crypto trading protocol.

RUNE cryptocurrency saw a surge in price in March 2022, when it decided to integrate Terra (LUNA) into the THORChain protocol and Cosmos ecosystem, giving users more trading and staking options.THORChain also hinted at an upcoming mainnet launch and was also considering offering liquidity providers more generous returns.

Frequently asked questions about RUNE

  • Can I mine or stake RUNE?

THORChain is a proof-of-stake (PoS) blockchain, which means it cannot be mined but can be staked. Users can stake their RUNE tokens to generate yield or vote on the governance of a protocol. Liquidity providers can stake their assets in pools to collect fees when trades are made on the network by other users.

  • What are some of the best RUNE wallets?

THORWallet DEX is the only native non-custodial wallet for RUNE. Available as a mobile app, it lets you earn passive income by swapping native cryptos across chains. Trust Wallet and XDEFI Wallet are also some other popular options. If you are in search of hardware wallets then Ledger Nano S, Ledger Nano X and Trezor are suitable options.

  • What can you do with RUNE?

RUNE tokens can be used for governance, so as to activate pools with the most liquidity. The RUNE token is also used to reward nodes and incentivize them to secure the network. Liquidity Providers also receive incentives or swap commissions in RUNES.

  • How to buy RUNE?

You can buy THORChain RUNE on centralized exchanges like HitBTC, with trading pair RUNE/BTC, and MEXC, with trading pair RUNE/USDT. However, you can also buy RUNE using fiat currency on exchanges like Binance.

THORChain Price1.6909 USD
Market Rank#63
Market Cap568,200,732 USD
24h Volume13,168,451 USD
Circulating Supply336,027,636 RUNE
Max Supply500,000,000 RUNE
Yesterday's Market Cap577,175,750.71 USD
Yesterday's Open / Close1.7424 USD / 1.7178 USD
Yesterday's High / Low1.7539 USD / 1.7049 USD
Yesterday's Change
-0.01% ( 0.0246 USD )
Yesterday's Volume13,853,491.77 USD
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