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THORChain

0.00%

Market Cap (USD)

$2.3B

24H VOLUME (USD)

$215

Daily change

-$0.43

THORChain (RUNE) Price Chart

THORChain is a decentralized exchange (DEX) that aims to enable permissionless and trustless transactions across different blockchain networks. Users are able to conduct cross-chain swaps without the need for centralized exchanges (CEXs) or wrapped tokens, which are essentially IOUs for another digital asset on a different blockchain. 

RUNE is the blockchain's native cryptocurrency. It acts as a bridge between different cryptocurrencies, allowing users to participate in the network and potentially reap rewards through staking RUNE. 

Below, we explore THORChain, how it works, and the role of RUNE in this blockchain network.  

What is RUNE?

RUNE occupies a central spot in the THRORChain network. It is the blockchain's native token that serves multiple purposes, such as:

  • A medium of exchange
  • Securing the network through staking
  • Acting as a bridge between cryptocurrencies
  • Fuel for transactions within the THORChain ecosystem 

How Does ThorChain Work?

ThorChain supports cross-chain swaps directly between Layer 1 blockchains, like Bitcoin and Ethereum, without relying on centralized exchanges or wrapped tokens. 

Like other DEXs, it uses a network of liquidity pools holding cryptocurrencies and its native token, RUNE. Participants (validators) can deposit assets to provide liquidity, thus supporting the network and earning fees in return. 

Swapping Assets

Users who want to swap a coin (Bitcoin, for example) for another (like Ethereum) can send their BTC to a designated THORChain vault, which is essentially a Bitcoin address controlled by the network. 

The platform does not directly exchange BTC for ETH. Instead, it uses its native cryptocurrency, RUNE, as an intermediary step. More precisely, it converts the user's BTC to RUNE within the BTC-RUNE liquidity pool, and then swaps the native tokens for ETH in the ETH-RUNE liquidity pool. 

Staking

THORChain utilizes staking to incentivize enthusiasts to participate in securing the network. Participants can stake RUNE to become validators. Their main responsibility is verifying transactions and ensuring the smooth operation of THORChain. Please note that CEX.IO Staking currently doesn’t support RUNE. 

Incentive Pendulum

Incentive Pendulum is a mechanism THORChain uses to maintain balanced liquidity pools. It automatically adjusts rewards for network contributors who add funds to pools that are running low on a particular asset. This way, the network encourages enthusiasts to keep the system healthy and running.

Current RUNE Price and Chart

Since its launch, RUNE has exhibited strong post-ICO performance.

Interested parties can track RUNE's real-time price performance through our cryptocurrency pricing page. Those requiring a more methodical approach to identifying potential trading opportunities can check the RUNE to USD live price on our intuitive Spot Trading platform. 

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Market Statistics

RUNE's market cap as of this writing is roughly $2.5 billion, hovering around the top 50 cryptocurrencies by market capitalization, just above the First Digital USD (FDUSD), Fantom (FTM) and Sui (SUI).

THORChain's native token occupies a similar position in terms of 24-hour trading volume. 

Traditionally, the most active trading pairs are BTC/RUNE and ETH/RUNE. Those looking to learn more about THORChain's daily trading volume can explore our live crypto prices and compare them against other digital assets. 

RUNE Price History

RUNE's historical price chart shows that THORChain's native token has exhibited a dynamic price trajectory since its Initial Coin Offering (ICO) in August 2020. Launched at $0.17, RUNE experienced its first significant price discovery in 2021, surging to $5.99 before reaching its all-time high (ATH) of $17.7.

The period between May 2021 and May 2022 saw a consolidation phase with RUNE, which is often observed after an initial token offering and can indicate a market-finding equilibrium, i.e. settling into a trading range. 

From June 2022 to September 2023, RUNE entered a period of relative stability, trading predominantly within a tight range of $1 to $1.6. However, December 2023 marked a turning point, with a price spike propelling RUNE to $6.6.

This positive momentum continued into 2024, culminating in a new ATH of $10.62 on March 14. This recent price surge could indicate renewed investor confidence in the ThorChain ecosystem and its potential for future growth.

Crypto enthusiasts can track RUNE's real-time and historical performance on our live price chart and use our in-depth analysis to make informed buying decisions. 

RUNE Tokenomics

In 2018, THORChain pre-minted 1 billion RUNE before burning all of the unused reserve tokens in 2019, which amounted to 50% of the initial theoretical maximum. The current total supply is 500 million RUNE, with a circulating supply of 335 million. 

During the initial token distribution, 50% of the token supply was allocated to Liquidity Emission. The rest of the RUNE was distributed as follows: 

  • 13% to Operational Reserve
  • 12% to the Community Reserve
  • 10% to Team & Advisors
  • 6% to Seed
  • 5% to Private Sale

Community and Social Media Links

CEX.IO provides enthusiasts insight into RUNE's real-time price changes and allows interested parties to trade THORChain's native cryptocurrency against USD and USDT on our Spot Trading platform. 

Those keen to delve deeper into this project's vision and developing trajectory can explore THORChain's official webpage

Additionally, users can track the latest news and events surrounding RUNE through several channels, including THORChain Announcements on Telegram and its official Facebook page. 

For enthusiasts eager to engage in expert discussions and remain abreast of the project's technical aspects and future potential, visiting the THORChain X account is invaluable. 

Finally, it's vital to note that THORChain also maintains an active presence on GitHub, where users can explore the project's open-source codebase, contribute to development efforts, and gain insights into the protocol's technical intricacies. 

FAQs

Where to buy RUNE?

RUNE is available on dedicated crypto exchanges, including CEX.IO, which offers an inclusive ecosystem welcoming both new and seasoned crypto enthusiasts. Customers can seamlessly buy crypto, including RUNE, through Instant Buy or Spot Trading platform. 

What payment methods are available to buy RUNE? 

CEX.IO offers various gateways to obtain RUNE, as well as other listed cryptocurrencies. Eligible members can buy crypto with a bank account, credit and debit cards, e-wallets (Skrill, Neteller), and mobile payment processors (Google Pay and Apple Pay). Customers are advised to conduct thorough research before purchasing RUNE, as the availability of certain payment methods differs between jurisdictions. 

Can I buy Bitcoin with CEX.IO?

Eligible customers can acquire BTC through a designated Bitcoin wallet. Prospective buyers interested in acquiring Bitcoin through CEX.IO's platform are required to register and verify their accounts to comply with the AML/KYC procedures. To expedite this process, they should prepare necessary documents such as an international passport, government-issued ID card, or driver's license. 

What is CEX.IO Savings?

CEX.IO Savings is a service that allows users to earn interest on their holdings of various cryptocurrencies without actively trading. It supports a variety of popular cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). We offer our users a flexible crypto savings account, allowing them to deposit, withdraw and potentially earn interest on their crypto at any time. 

How does staking on CEX.IO work? 

Crypto staking is a feature that allows eligible users to potentially earn rewards on their cryptocurrency holdings by supporting certain blockchain networks. It empowers crypto enthusiasts to delegate their holdings to the platform for a specific period, thus allowing them to potentially earn rewards in the form of a new cryptocurrency issued by the supported blockchain. 

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