Thorchain, a cross-chain liquidity network, has emerged as a frontrunner in cross-chain transfers, surpassing its competitors in volume and transaction activity, on-chain data shows.\u00a0<\/p>\n
Citing Galaxy Research data, a user on X, Bullion,\u00a0noted<\/a>\u00a0that Thorchain processed $4.82 billion in cross-chain transactions over the past 30 days, while Cosmos\u2019 Inter-Blockchain Communication (IBC) protocol handled $3.35 billion worth of transactions during the same period. <\/p>\n Among layer-2 bridges, Arbitrum Bridge led the pack with $1.21 billion in cross-chain volume. Others, like Polygon POS and Stargate, processed $564 million and $694 million, respectively.<\/p>\n The spike in Thorchain\u2019s trading volume and liquidity indicates the protocol\u2019s increasing significance in the broader decentralized finance (DeFi) landscape. The protocol\u2019s unique features and innovative solutions have made it a preferred destination for cross-chain asset transfers.\u00a0<\/p>\n At the heart of Thorchain is its ability to facilitate cross-chain asset swapping in a trustless and non-custodial manner. In this arrangement, and like popular decentralized exchanges like Uniswap<\/a>, Thorchain allows users to retain control of their funds without depending on intermediaries.\u00a0<\/p>\n The stream swaps technology seems to be drawing user attention to Thorchain. This feature allows users to swap with near-slippage free even without high liquidity. Technically, and as expected in decentralized exchanges, the lower the liquidity, the higher the slippage. The offer for low or zero slippage gives Thorchain a significant advantage over other cross-chain swaps.<\/p>\n Beyond trading, Thorchain has incorporated other defi solutions, including lending. In this arrangement, Thorchain now supports the trustless lending of assets without liquidity risk or interest, a deviation from traditional lending protocols, including Aave.\u00a0<\/p>\n Together, these features have contributed to Thorchain\u2019s growing trading volume, further cementing its position in the recovering DeFi scene. According to\u00a0DeFiLlama<\/a>, Thorchain has a total value locked (TVL) of around $322 million. <\/p>\n Meanwhile, Thorchain\u00a0claims<\/a>\u00a0to have over 91,000 swappers. Cumulatively, the protocol has processed over $61 billion in trading volume.<\/p>\n As DeFi expands from 2022 pits, RUNE, the platform\u2019s native token, has also benefited. Looking at the RUNE daily chart, it is up roughly 5X from 2023 lows. <\/p>\n <\/a><\/p>\n Despite the re-pricing of asset prices on January 3, RUNE remains resilient. Prices are trending inside a bull flag. Any breakout above $6.5 and local resistances could catalyze demand, lifting the coin above $7.3 to new 2024 highs.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Thorchain, a cross-chain liquidity network, has emerged as a frontrunner in cross-chain transfers, surpassing its competitors in volume and transaction activity, on-chain data shows.\u00a0<\/p>\n Citing Galaxy Research data, a user on X, Bullion,\u00a0noted<\/a>\u00a0that Thorchain processed $4.82 billion in cross-chain transactions over the past 30 days, while Cosmos\u2019 Inter-Blockchain Communication (IBC) protocol handled $3.35 billion worth of transactions during the same period. <\/p>\n Among layer-2 bridges, Arbitrum Bridge led the pack with $1.21 billion in cross-chain volume. Others, like Polygon POS and Stargate, processed $564 million and $694 million, respectively.<\/p>\n The spike in Thorchain\u2019s trading volume and liquidity indicates the protocol\u2019s increasing significance in the broader decentralized finance (DeFi) landscape. The protocol\u2019s unique features and innovative solutions have made it a preferred destination for cross-chain asset transfers.\u00a0<\/p>\n At the heart of Thorchain is its ability to facilitate cross-chain asset swapping in a trustless and non-custodial manner. In this arrangement, and like popular decentralized exchanges like Uniswap<\/a>, Thorchain allows users to retain control of their funds without depending on intermediaries.\u00a0<\/p>\n The stream swaps technology seems to be drawing user attention to Thorchain. This feature allows users to swap with near-slippage free even without high liquidity. Technically, and as expected in decentralized exchanges, the lower the liquidity, the higher the slippage. The offer for low or zero slippage gives Thorchain a significant advantage over other cross-chain swaps.<\/p>\n Beyond trading, Thorchain has incorporated other defi solutions, including lending. In this arrangement, Thorchain now supports the trustless lending of assets without liquidity risk or interest, a deviation from traditional lending protocols, including Aave.\u00a0<\/p>\n Together, these features have contributed to Thorchain\u2019s growing trading volume, further cementing its position in the recovering DeFi scene. According to\u00a0DeFiLlama<\/a>, Thorchain has a total value locked (TVL) of around $322 million. <\/p>\nAs DeFi TVL Recovers, Will RUNE Break To New 2024 Highs?<\/h2>\n
Thorchain Trading Volume Expands As Prominence Increases<\/h2>\n
As DeFi TVL Recovers, Will RUNE Break To New 2024 Highs?<\/h2>\n