【THORChain (RUNE) Shows Considerable Growth Amid Market Optimism】
THORChain (RUNE) has enjoyed a remarkable recovery of late, with the price rising 16.4% over the past week to $4.71, recovering from lows of $3.11. Bitcoin’s (BTC) breakout above $68,000 and the expected launch of an Ethereum ETF on July 26 have created a positive environment for altcoins including RUNE.
THORChain has a market capitalization of $1.57 billion and a 24-hour trading volume of over $227 million. Analysts have set ambitious targets for RUNE, predicting a short-term price of $8 and a long-term target of $54.
THORChain’s Q2 2024 Ecosystem Report highlights the network’s robustness and continued innovation. The network handles nearly $14 billion in total exchange volume, with major aggregators such as Trust Wallet and THORSwap contributing significantly. The integration of new interfaces such as Li.Fi and Cake Wallet enhances the exchange experience, and the removal of EVM contract whitelists expands the accessibility of smart contract exchanges.
Important updates for Q2 2024 include the launch of Trade Assets designed for frequent traders and arbitrageurs. These assets are capital efficient and free of slippage fees, promoting higher trading volumes. In addition, the system has adjusted cost logic to reduce outbound gas charges and enhanced the architecture to improve scalable functionality and security.
Future developments will further enhance the functionality of THORChain. For example, the RUNE Pool, expected to be launched in the third quarter of 2024, will allow users to participate in protocol-owned liquidity (POL) in multiple pools, helping to reduce impermanent losses and stabilize returns. There is also the introduction of Limit Orders, which allow users to automatically place trades when specific price targets are reached, integrating with the AMM design.
THORChain also plans to support Solana and other chains using the Edwards Curve Digital Signature Algorithm (EdDSA), and upgrade the Ethereum router and add new memo-less transactions and other functions. These developments aim to simplify the user experience and expand the interoperability of THORChain.
