What is Thorchain and Why You Should Care

If you’re into crypto you’ve probably heard of Uniswap, the decentralized exchange that allows you to swap any ERC-20 token for another. But what if you want to swap BTC for ETH, or ATOM for BNB? That’s where #Thorchain comes in.

Thorchain is a protocol that provides the infrastructure for cross-chain swapping of assets. It’s like Uniswap on steroids. You don’t need any bridges or wrapped tokens, which can be risky and inefficient. Thorchain does it safer and better.

How Thorchain Works and What Makes It Unique

How? By using a network of nodes that run their own blockchains and communicate with each other through a consensus mechanism called Threshold Signature Scheme (TSS). This way, each node can verify and execute swaps without trusting anyone else. #crypto101

Why $RUNE Is a Must-Have Token for Your Portfolio

But that’s not all. Thorchain also has its own native token, $RUNE, which powers the whole system. $RUNE is used as collateral by nodes to secure the network, as well as a medium of exchange by users to pay fees and access liquidity pools.

$RUNE is also designed to be scarce and valuable. There will only be 500 million $RUNE ever minted, and half of them will be burned over time as more users join the network. This creates a deflationary pressure that increases the demand and price of $RUNE.

The Future of Crypto Is Cross-Chain: How Thorchain Is Leading the Way

The future is definitely cross-chain and there’s a big market for what ThorChain is trying to do. If they manage to keep their position as industry leaders, their token will blow up in the next bull market. This is not going to be easy. Protocols like LayerZero are coming in hot, and they have a lot of funding and support.

The Challenges and Opportunities for Thorchain in a Competitive Market

But Thorchain has some advantages that make it stand out from the crowd. For one thing, it has been around since 2018 and has proven its technology through multiple testnets and audits. It also has a strong community of supporters who believe in its vision and contribute to its development.

How to Join the Thorchain Revolution and Profit from $RUNE

Thorchain is not just a project, it’s a movement. It’s changing the way we think about crypto and opening up new possibilities for innovation and interoperability. It’s giving us more freedom and control over our assets and our future.

That’s why I’m bullish on Thorchain ($RUNE) and you should be too. This is not financial advice, but I think $RUNE has the potential to reach newer all times highs (that's a 13x back to previous ATH from here!!) as long as it continues to deliver on its roadmap and attract more users and partners. #buildtogether

So don’t miss out on this opportunity. Do your own research, check out $RUNE today (you can buy it on #Binance or SushiSwap), stake it on Thorchain (you can use Asgardex or XDEFI), earn passive income from fees (up to 50% APY), and enjoy the ride. #bicasso

Post By: CryptosHeadlines.com

In the past three months, the price of Thorchain (RUNE) has tripled, and analysts believe there are strong fundamentals driving this performance.

Can Gurel, a cryptocurrency researcher from the prominent blockchain analytics firm Delphi Digital, has pointed out key operational factors contributing to RUNE’s impressive run in a bearish market.
Impressive Run for Thorchain (RUNE) Fueled by Fundamentals
On November 4, 2023, Thorchain (RUNE) achieved a remarkable milestone by surging to $3.46, a level not seen since May 2022. Can Gurel, a researcher at Delphi Digital, attributes RUNE’s impressive 3x rally over the last 90 days to strong fundamentals rather than mere narratives.
One of the critical drivers of Thorchain’s success has been liquidity fees, which serve as the “lifeblood” of its economic model. In October 2023, these fees came close to revisiting their all-time high, indicating robust health in the Thorchain ecosystem. Interest in the protocol remains high, and it’s possible that a new all-time high for liquidity fees could be achieved this month.
Furthermore, liquidity fees now represent a record share of the total protocol revenue, especially when combined with block rewards. The number of unique users participating in the Thorchain ecosystem for asset conversion has also reached a record high.
Thorchain’s reputation as a superior exchange option compared to some centralized exchanges (CEXes) has led to a surge in liquidity injections, surpassing records set back in April 2022.
Strong Fundamentals Driving Thorchain (RUNE) Surge
Two critical supply metrics for RUNE point to the pivotal role of fundamentals in the ongoing price surge. Can Gurel highlights that the amount of bonded RUNE, which is temporarily removed from speculative circulation, is approaching an all-time high.
Additionally, a significant milestone has been reached with the volume of Savers, which are single-sided liquidity instruments on Thorchain (RUNE), exceeding $40 million for the first time ever. With all these factors combined, the ongoing surge in RUNE’s price is fundamentally driven, according to the researcher.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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