THORChain has been trading in the green and recovering faster than larger cryptocurrencies. The developer team at the end of this project, Nine Realms, declare Launch mainnet after 4 years of development and research.
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At the time of writing, THORChain (RUNE) is trading at $ 2.30 with profits of 14% and 35% over the last 24 hours and 7 days. The market appears to be responding positively to the announcement.
As part of the announcement, crypto users on the Binance exchange will be able to participate in promotional campaigns and get a share of the total price of $ 1 million. Through an official post, the team behind THORChain said it celebrated the main milestones of the project:
Mainnet marks achievement with functionality, feature -like protocols with a large ecosystem and a strong community. It’s been a long time coming and the community is very excited about this important milestone.
Prior to the mainnet, THORChain operated a Multichain Chaosnet (MCCN) to enable users to provide cross-chain liquidity. This allows the project to test these features and migrate from a centralized platform to a decentralized and community-driven platform, according to an official post.
As part of this spread, the project launched an original RUNE token and asked all token holders to replace the non -genuine RUNE with their former assets. Once 67% of the network is running on native RUNE, the protocol will implement “Killswitch” and “disable” non-native assets according to the BEP2 standard.
As NewsBTC reported, 4 months ago THORChain unveiled a highly coveted feature, a synthetic asset. This allows users to gain price exposure to large cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), by trading with a version of THORChain called sBTC and sETH.
This is just one of the milestones achieved by the project on the way to the launch of the mainnet. The goal is to make the platform a decentralized, secure, and liquidity efficient protocol in the decentralized financial sector (DeFi).
Who Buys Rally THORChain (RUNE)?
Data provided by the team at the end of the project claims THORChain has seen $ 9.2 billion in total trade volume, with a total of about 10 million transactions and about 72,000 unique swappers. The protocol is worth about $ 250 million in total locked -in value (TVL) making it one of the largest in the DeFi sector.
In the next development step, which includes making the platform more transparent and decentralized, the team behind the project said:
Centralized failure points should be eliminated because they are detrimental to the future of the network. The biggest central point that still exists is Treasury management. Treasury plans to hand over full control to the public soon.
Other data provided by Material Indicators (MI) notes an increase in buying pressure from investors with more than $ 1,000 to $ 10,000 in bid orders (red and green in the chart below). Retail investors (yellow on the chart) have sold into current price action while the whales (brown and purple) have been inactive.
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If the crypto continues to rebound, the RUNE could exceed the gain. If large investors see a bullish continuation, they may jump into the action and push the RUNE even further.