THORChain (RUNE) has emerged as one of the top-performing decentralized exchanges (DEXs) in recent months, showcasing remarkable growth. The swap volume on the exchange surged by 186% in March and is up an impressive 1,532% since March last year.
THORChain stands out as the first DEX capable of swapping layer 1 Bitcoin for other layer 1 tokens without using wrapped tokens. This innovative approach allows users to swap Bitcoin with thousands of different cryptocurrencies directly from a self-custody wallet, eliminating the reliance on centralized exchanges (CEXs).
One of the key drivers behind RUNE’s performance is the introduction of a new feature on THORChain called streaming swaps. This feature breaks down large orders into numerous small swaps, significantly reducing the overall cost of the swap compared to executing it in a single transaction. As a result, THORChain has become the most cost-effective platform for swapping Bitcoin compared to CEXs, leading to a surge in trading volume and subsequently, the price of RUNE.
With its decentralized nature, THORChain has the potential to achieve trading volumes surpassing those of major exchanges such as Binance and Coinbase. CZ, the founder of Binance, has even expressed his belief that DEXs will outgrow CEXs in the coming years, which is why Binance invested in Trust Wallet. The integration of THORChain into Trust Wallet further solidifies the potential for THORChain to surpass Binance.
During the 2021 bull market, Binance (BNB) rose to become the #3 cryptocurrency by market cap. Similarly, when Coinbase (COIN) went public in 2021, its market cap relative to the crypto sector positioned it at #5. Both remain in the top ten today. If DEXs become larger than CEXs, THORChain could surpass Binance and Coinbase, becoming the next top ten cryptocurrency by market cap and even claiming the #3 spot.
To seize this promising opportunity, Youxia Crypto has launched its flagship fund, exclusively dedicated to investing in the RUNE token. The fund uses these tokens to operate nodes on the THORChain network, offering investors the potential for capital gains through the appreciation of the RUNE token, as well as the opportunity to earn yield through node operations.
For more information, visit Youxia Crypto’s website.
Contact:
Website: https://youxiacrypto.com/
Company Name: Youxia Crypto
Contact Name: Kenton Toews
Country Name: Cayman Islands
Email: kenton@youxiacrypto.com
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Tribune Digest journalist was involved in the writing and production of this article.