ThorChain has emerged as the third-largest decentralized exchange (DEX) by trading volume in recent weeks. The recorded trading volume reached an impressive $1.32 billion, placing ThorChain third only behind Uniswap and PancakeSwap.
The native token, $RUNE, witnessed a remarkable surge of 51% over the last week and an impressive 200% over the last 30 days.
ThorChain distinguishes itself by providing a decentralized platform for swapping between Bitcoin and Ether, where such transactions are typically facilitated through centralized exchanges.
During the 24 hours between November 11 and 12, ThorChain processed almost $224 million, constituting around 2% of the overall spot Bitcoin trading volume.
"Principled Bitcoiners should be familiar with ThorChain. It is the only market to trade Bitcoin at scale without an intermediary," emphasized Bitcoin advocate Erik Voorhees.
