THORChain exchange surpasses $200 million in total volume after swap pause
- THORChain's THORWallet exchange recently surpassed $200 million total trading volume.
- The chain experienced a disruption last week due to a temporary pause on swaps on the THORSwap exchange.
- RUNE price remains stable with moderate volatility after resumption of swapping operations.
THORChain's THORWallet DEX surpassed a total trading volume of $200 million, following a brief pause in swaps on the THORSwap DEX due to reports of illicit transfers. Despite this interruption, THORChain native RUNE token has recovered and maintained price stability on Monday.
Also Read: THORChain price dips 5% as bullish wind on illicit transfers settles
THORChain exchange expands in volume
THORChain's THORWallet decentralized exchange (DEX) surpassed a total trading volume of $200 million, as per an official update on X released on Saturday. The development comes on the heels of a temporary swap pause on THORChain's THORSwap DEX after the chain’s transaction volume surpassed $1 billion in a matter of a few days.
On October 6, reports of illicit transfers on the chain prompted THORSwap exchange to suspend cryptocurrency swaps. While it continued providing liquidity, earning interest, borrowing, and staking, during this period, swaps only resumed on October 12.
THORChain is seeing a total of 79,740 unique addresses and 12,153,256 transactions involving swaps, additions, and withdrawals.
With a block height of 13 million, the network activity has been robust. The total supply of the native RUNE coin is valued at close to $813 million, based on data from THORChain Explorer.
RUNE token achieves stability
The RUNE coin price action has been stable within a trading range of $1.63 to $1.75 on Monday. The price action has been positive since THORSwap resumed swapping operations.
CoinGecko notes a 3% increase in price over the last 24-hour time frame and a 5% increase over the last week. With a circulating supply of 300 million RUNE, the market capitalization of THORChain’s token currently sits at $504.5 million.
RUNE/USDT 1-day chart
The price of the RUNE token is showing signs of stability and could only experience moderate volatility. This steady trend is expected to persist unless unforeseen factors, such as renewed concerns over more illicit transfers, come to light.
Author
Shraddha Sharma
FXStreet
With an educational background in Investment Banking and Finance, Shraddha has about four years of experience as a financial journalist, covering business, markets, and cryptocurrencies.
