Decentralized liquidity protocol ThorChain’s (CRYPTO: RUNE) token jumped over 40% to $5.82 over the last 24 hours early on Wednesday.
| Time-frame | % Change (+/-) |
|---|---|
| 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% |
See Also: Is ThorChain (RUNE) A Good Buy?
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 2022
Summary $THOR $RUNEhttps://t.co/ldJtdWGs8x
— THORSwap ( ,) (@THORSwap) March 1, 2022
On Tuesday, Nine Realms, a cryptocurrency platform that focuses on institutional liquidity to THORChain, said the Terra integration is complete.
To clear up any uncertainty: The Terra integration is complete.
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
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. It attracted 488 tweets at press time, according to Cointrendz data.
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.
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
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.
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