The THORChain crypto protocol allows users to exchange assets across blockchain networks using decentrilized liquidity. It supports an ecosystem of services and products which use the THOR crypto network's cross-chain infrastructure. Cross-chain swaps are made possible through platforms like THORSwap, the first multichain DEX that uses THORChain's network as a front-end interface. Users can select the two assets they want to swap using THORSwap, and the protocol automatically determines the costs depending on network activity.
Powering the THORChain network is the THORChain coin RUNE. Each asset in the platform's liquidity pools has a matching token called RUNE that goes along with it. In this way, RUNE contributes to the network's utility and value by acting as the second token that users deposit in the liquidity pool to conduct transactions against. Additionally, RUNE is employed to protect the THORChain network, collect fees, and serve as a foundation for governance.
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We have seen a pretty nice pump from $BTC and dominance again above 50%. We don't hold $BTC, but still ... its good performance is essential for potential altseason.
$LINK is hovering around 8$, and if momentum lasts we could see 9$ soon. $RUNE is doing great, finally above 2$. Don't forget its peak was above 20$.
Still holding $INJ and $ROSE.
Have a nice day! 😉
Just one comment about sentiment right now. $BTC halvening is getting closer (April 2024). The last time it was in May 2020 - and just before that (March 2020) $BTC dumped from 10k to 3k, other assets were no exception. The reason was Covid fear.
Many, many people are waiting for this dump again. And if it'll come they'll want a bigger one. But market doesn't work that way. At one point we'll just leave those people behind us ... History doesn't always repeat.
And don't forget we already had $BTC 15k ... $RUNE was at 0,77$ ... but greed works both way and people were screaming we'll see 8k $BTC.
We'll see what future brings us. But avoid too confident people - bulls or bears.
Since new year $BTC did around 60%, while our fund managed to do 54%. But what you have to know is that at the beginning of the year, $BTC dominance was at 39%, while now sits at 50%. Meaning we managed to do well even when alts were bleeding. Special thanks to $RUNE and $LINK 🔥
$BTC dominance will drop eventually and we can expect alt run then. Till then we have to preserve our capital. 🚀
Welcome,have a nice Sunday!