Native asset settlement protocol THORChain has recorded the third-largest trading volume among decentralized exchanges in the last week, with users seemingly attracted to the high yield offered adjacent to its native token, RUNE (RUNE).
Over the last week, THORChain’s trading volume hit $1.32 billion, third only behind Uniswap and PancakeSwap at $10.85 billion and $2.77 billion, respectively, according to DefiLlama.
THORChain also boasts the second-largest trading volume at $334.3 million over the last 24 hours, nearly $50 million more than third-placed PancakeSwap.
Meanwhile, RUNE increased 51% over the last week and more than 200% over the last 30 days, according to CoinGecko.
THORChain’s rise past Curve Finance happened much earlier than what THORChain core developer Chad Barraford predicted, who initially estimated the flippening to happen before the end of 2023.
“Okay, this happened much faster than I thought. Just took 2 days instead of 2 months,” Barraford noted in a Nov. 13 X (formerly Twitter) post.
Okay, this happened much faster than i thought. Just took 2 days instead of 2 months. But its happened, @THORChain has more trade volume in a week than @CurveFinance.
Next is @PancakeSwap https://t.co/xbGkKfFtRU pic.twitter.com/YdPeCZiOQA
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