$2.51

24H %

-5.90%

24H Low

$2.47

24H High

$2.74
DownloadIcon
TO

Linear
Log

About THORChain

Category


THORChain Value Proposition


RUNE is the native token of Thorchain, a decentralized exchange network built on the Tendermint protocol.

RUNE Price

Thorchain launched in July 2019. The token rose from 1 cent to 7 cents by the start of 2020, but its market capitalization rarely budged above $10 million. That changed by the start of 2021, when RUNE hit a price of $1.20 and a market cap of $205 million.

When the crypto market swelled early that year, it took RUNE holders along with it. In May 2021, RUNE reached an all-time high of $21.20 and a market cap of $4.89 billion. However, within five days, RUNE had fallen to a market cap of $1.89 billion and a price of $3.30.

The $3 billion drop in market cap didn’t shake investors, who in the autumn pushed the price back up to $16. The token fell once again in early 2022, but in April 2022 rose to highs of $12.40 and a market cap of $4.1 billion. That level was short-lived; a month later, RUNE had fallen back down to $6.

Thorchain minted 1 billion RUNE coins at launch. It held onto them, intending to distribute the coins over time. Investors received 70 million in a private presale, 100 million went to the team, 60 million to seed investors and 7 million to an initial DEX offering (IDO). Another 130 million was reserved to run the Thorchain company, and the remaining 500 million was reserved for network validation and liquidity rewards.

In August 2019, Thorchain announced Project Surtr, a token-burning initiative to destroy unused reserves over the following five years. The number of tokens that Thorchain burns each month changes in an attempt to reduce the volatility of the price of RUNE.

In October 2019, Thorchain announced that it would burn half of the initial maximum supply. This means that the allocations described above were also cut in half. While the total supply is fixed and the vesting schedules of some of the initial token distributions are predictable, the token burn and fees issued to validators vary over time.

How does Thorchain work?

Thorchain is a decentralized exchange based on the Cosmos ecosystem’s Tendermint protocol. However, the exchange remains in testnet. When RUNE first launched, it was issued as a BEP-2 token on the BNB Smart Chain, and later as an Ethereum token. When its mainnet launches sometime in 2022, these tokens will be deprecated.

Thorchain functions similarly to Uniswap, the most popular decentralized exchange (DEX) on Ethereum. The major difference is RUNE can be swapped against any token; the protocol uses the coin to trade in and out of the liquidity pools provided by its users.

Key events and management

Thorchain’s IDO on Binance DEX only sold 7 million RUNE out of the 20 million offered. According to data from Messari, the IDO sold $224,000 worth of BNB, the seed round raised about $600,000 and the private sale raised about $1.61 million.

In July 2021, Thorchain was hacked three times within a month. The losses amounted to about $13 million. The largest hack exploited the protocol for $8 million by tricking the protocol into thinking it had deposited assets, then forcing it to issue a refund.

In March 2022, Thorchain integrated with Terra. Thorchain launched a public testnet in June 2020 and has not launched its mainnet.


THORChain Market Cap

$1.26B

THORChain 24H Volume

$126.69M


THORChain Price

24H Open
$2.67
24H Change
$-0.157451
52 Week Low
$1.43
52 Week High
$16.58
All Time High
$20.87
Returns (YTD)
-63.85%

THORChain Market Stats

Total Supply
500.00M
Max Supply
500.00M
24H Value Transacted
N/A
30D Volatility
1.34
24H Transaction Count
N/A
24H Average Transaction Fee
N/A

About THORChain

Category


THORChain Value Proposition


RUNE is the native token of Thorchain, a decentralized exchange network built on the Tendermint protocol.

RUNE Price

Thorchain launched in July 2019. The token rose from 1 cent to 7 cents by the start of 2020, but its market capitalization rarely budged above $10 million. That changed by the start of 2021, when RUNE hit a price of $1.20 and a market cap of $205 million.

When the crypto market swelled early that year, it took RUNE holders along with it. In May 2021, RUNE reached an all-time high of $21.20 and a market cap of $4.89 billion. However, within five days, RUNE had fallen to a market cap of $1.89 billion and a price of $3.30.

The $3 billion drop in market cap didn’t shake investors, who in the autumn pushed the price back up to $16. The token fell once again in early 2022, but in April 2022 rose to highs of $12.40 and a market cap of $4.1 billion. That level was short-lived; a month later, RUNE had fallen back down to $6.

Thorchain minted 1 billion RUNE coins at launch. It held onto them, intending to distribute the coins over time. Investors received 70 million in a private presale, 100 million went to the team, 60 million to seed investors and 7 million to an initial DEX offering (IDO). Another 130 million was reserved to run the Thorchain company, and the remaining 500 million was reserved for network validation and liquidity rewards.

In August 2019, Thorchain announced Project Surtr, a token-burning initiative to destroy unused reserves over the following five years. The number of tokens that Thorchain burns each month changes in an attempt to reduce the volatility of the price of RUNE.

In October 2019, Thorchain announced that it would burn half of the initial maximum supply. This means that the allocations described above were also cut in half. While the total supply is fixed and the vesting schedules of some of the initial token distributions are predictable, the token burn and fees issued to validators vary over time.

How does Thorchain work?

Thorchain is a decentralized exchange based on the Cosmos ecosystem’s Tendermint protocol. However, the exchange remains in testnet. When RUNE first launched, it was issued as a BEP-2 token on the BNB Smart Chain, and later as an Ethereum token. When its mainnet launches sometime in 2022, these tokens will be deprecated.

Thorchain functions similarly to Uniswap, the most popular decentralized exchange (DEX) on Ethereum. The major difference is RUNE can be swapped against any token; the protocol uses the coin to trade in and out of the liquidity pools provided by its users.

Key events and management

Thorchain’s IDO on Binance DEX only sold 7 million RUNE out of the 20 million offered. According to data from Messari, the IDO sold $224,000 worth of BNB, the seed round raised about $600,000 and the private sale raised about $1.61 million.

In July 2021, Thorchain was hacked three times within a month. The losses amounted to about $13 million. The largest hack exploited the protocol for $8 million by tricking the protocol into thinking it had deposited assets, then forcing it to issue a refund.

In March 2022, Thorchain integrated with Terra. Thorchain launched a public testnet in June 2020 and has not launched its mainnet.


Market Analysis
Social Analysis

Trending Assets

Bitcoin Calculator

Last Updated on 07/25/22 9:04 AM

CoinDesk’s Bitcoin and Cryptocurrency Calculator determines the exchange rates between major fiat currencies and cryptocurrencies – including BTC, BCH, ETH and XRP to USD, EUR, GBP, IDR and NGN – with up to six decimal places of accuracy. Conversion rates are based on CoinDesk’s Bitcoin Price Index and the price indices of other digital assets. World currency prices are based on rates obtained via Open Exchange Rates.


Latest About THORChain

CoinDesk - Unknown
THORChain Phases Out Support for Rune Tokens on Ethereum, BNB Chain

The move comes weeks after THORChain’s native blockchain went live on seven supported networks.

CoinDesk - Unknown
CoinDesk - Unknown
Blockchain Protocol Thorchain Suffers $8M Hack

Thorchain told CoinDesk a hacker deployed a custom contract that was able to trick its Bifrost Protocol into receiving a deposit of fake assets.

CoinDesk - Unknown
CoinDesk - Unknown
Blockchain Protocol Thorchain Loses 4K Ether in Attack

The company said it will provide a more detailed assessment of the breach soon.

CoinDesk - Unknown

Research Reports

All

Diving in deeper on cryptocurrency.

CoinDesk - Unknown
CoinDesk 2021 Annual Crypto Review

Thanks to 2021 most people have at least heard of crypto by now not just Bitcoin and Ethereum but altcoins like DOGE and SHIB as well as terms like NF Ts and the metaverse In Coin Desk Research’s 2021 Annual Crypto Review we aim to summarize some of the key themes and metrics that marked [...]

CoinDesk - Unknown
CoinDesk - Unknown
Building on the News: Introducing Layer 2 by CoinDesk

Our new digital magazine goes beyond the daily headlines to put crypto and blockchain developments in perspective.

CoinDesk - Unknown

Disclaimer
Any data, text or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results. CoinDesk is an independently managed media company, wholly owned by the Digital Currency Group, which invests in cryptocurrencies and blockchain startups. DCG has no operational input into the selection or duration of CoinDesk content in all its forms.