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- 1 THORChain allows users to earn a yield through the protocol’s decentralized exchange.
- 2 RUNE airdrops can be a profitable way to accumulate free cryptocurrency.
THORChain is a cross-chain protocol that enables direct exchange of multiple currencies without intermediaries. It supports different networks like Bitcoin and Ethereum.
What is the THORChain Project’s Main Goal?
The project’s main aim is to increase liquidity for all supported cryptocurrencies and to avoid illiquid and fragmented markets of buyers and sellers who want to exchange different cryptocurrencies without the involvement of central authorities.
THORChain also allows users to earn a yield through the protocol’s decentralized exchange by depositing cryptos into liquidity pools. Thus allowing users to borrow cryptocurrency within minutes.
THORChain employs a protocol called continuous lending pools, which Bancor DEX uses to enable cross-chain exchange of non-native tokens. All supported cryptocurrencies that are not native to the network are deposited into liquidity pools together with the native token RUNE.
When a user initiates a trade, i.e. an exchange between two non-native assets, the system automatically exchanges one token for RUNE and RUNE for the other token. Double swapping with instant execution enables non-custodial exchanges on the THORChain protocol.
Users can deposit their funds into liquidity pools for other users to borrow, thereby earning a yield based on the amount they deposit. Operoperative nodes create liquidity pools, which are also responsible for validating swaps and incentivizing accordingly.
The THORChain protocol relies on the Proof of Stake consensus mechanism, which requires staking native RUNE tokens.
RUNE Airdrop: Where to Claim
The THORChain $RUNE airdrops can be a profitable way to accumulate free cryptocurrency. With DappRadar, the process becomes easier as it offers a reliable platform to explore and claim those tokens.
As per J.D Quantum, the process to claim THORChain $RUNE airdrops using DappRadar is a hassle-free one that enables users to take advantage of the potential of free cryptocurrency tokens. Stay updated with DappRadar’s latest airdrop opportunities to maximize your earnings. Happy hunting for airdrops!
Technical Analysis and Target of RUNE Coin Price
The value of THORChain (RUNE) is on the rise, and based on the recent on-chart metrics, it has significant potential for growth in the near future. Despite the harsh market conditions, the THORChain coin price has increased by more than 25% in the past month. However, it is essential to note that the RUNE price is near the immediate resistance level of $6.5.
The RUNE price has surged from $4.97 to $5.81 over the last week. In addition, the year-to-date (YTD) increase was by 190%. The THORChain price prediction suggests it can break past the immediate resistance if the price shows significant momentum.
Conclusion
THORchain aims to increase liquidity and avoid illiquid markets for cryptocurrencies. Claiming THORChain $RUNE airdrops through DappRadar is hassle-free. The value of THORChain (RUNE) is on the rise and has significant potential for growth.
Technical Levels
- Support Levels: $4.88 and $3.42
- Resistance Levels: $6.5 and $8.42
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
