Decentralized liquidity protocol ThorChain's (CRYPTO: RUNE) token jumped over 40% to $5.82 over the last 24 hours early on Wednesday.
| 24-hour | 40.8% |
| 24-hour against Bitcoin (CRYPTO: BTC) | 36.95% |
| 24-hour against Ethereum (CRYPTO: ETH) | 35.6% |
| 7-day | 61.2% |
| 30-day | 51.7% |
| YTD performance | -21% |
Why Is It Moving? RUNE is the token associated with ThorChain, a decentralized and autonomous cross-chain liquidity network.
Interest in RUNE surged ahead of an upcoming mainnet launch - a fully developed and deployed blockchain protocol - and integration with Terra (CRYPTO: LUNA) ecosystem. The development was announced earlier in the project’s monthly report.
THORSwap Monthly Report - Feb 2022On Tuesday, Nine Realms, a cryptocurrency platform that focuses on institutional liquidity to THORChain, said the Terra integration is complete.Summary $THOR $RUNEhttps://t.co/ldJtdWGs8x
— THORSwap ( ,) (@THORSwap) March 1, 2022
To clear up any uncertainty: The Terra integration is complete.Notably, LUNA trended on price tracking websites CoinGecko and CoinMarketCap at press time. The token was also included among the most mentioned coins on Twitter (NYSE:TWTR). It attracted 488 tweets at press time, according to Cointrendz data.We're now working with @TerraSCV to review the integration before pushing things.c
Once we receive the green light and handle any comments, $UST and $LUNA will be live on @THORChain. https://t.co/DsTw1qbUDV
— Nine Realms (@ninerealms_cap) March 1, 2022
The ThorChain project highlighted features of the swap between Bitcoin and TerraUSD (UST) by saying funds “can never be seized or frozen.” UST is a stablecoin built on the Terra blockchain, its creation facilitated by burning LUNA tokens.
Decentralized money. Swapped from self-custody wallets.RUNE hit an all-time high of $21.26 in May last year and at press time traded 73.05% below that level. In 2021, the ThorChain network was hit by a high-profile security incident. An update restored trading with Ethereum’s network in October.Real #Bitcoin. Real $UST. Funds can never be seized or frozen. Power to the people.#LUNAiscoming $RUNE https://t.co/IiFVv4lohO
— THORChain #LUNAISCOMING (@THORChain) March 1, 2022
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