DeFi coin THORChain (RUNE) surges 30% following SushiSwap listing DeFi coin THORChain (RUNE) surges 30% following SushiSwap listing
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DeFi coin THORChain (RUNE) surges 30% following SushiSwap listing

DeFi coin THORChain (RUNE) surges 30% following SushiSwap listing

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

THORChain (RUNE) is surging higher today after the cryptocurrency joined hands with SushiSwap.

THORChain is a cross-chain liquidity protocol that allows investors to trade cryptocurrencies across chains. RUNE is the protocol’s native token.

RUNE surges after SushiSwap listing

RUNE has surged 35 percent in the past 24 hours in spite of the fact that Bitcoin and Ethereum remain in consolidation. The cryptocurrency currently changes hands for $1.81 on Binance, though has traded higher on other venues due to a lack of arbitrage.

The cryptocurrency is up 15 percent in the past week and over 75 percent in the 30 days, per CryptoSlate market data.ย 

Chart of THOR’s price action over the past 36 hours from

This rally comes after THORChain listed an Ethereum-based version of RUNE on SushiSwap to “make inroads into the Ethereum Defi community.” This system will allow THORChain to build liquidity, a community, and other networks within the Ethereum blockchain prior to the launch of the Ethereum Bifrost system.

“ETH.RUNE is a transitionary asset to grow liquidity ahead of the launch of THOR.RUNE and the Ethereum Bifrรถst.”

The price of RUNE on SushiSwap has surged past $2.30 as a result of a lack of a two-way bridge to arbitrage the price differences. A bridge will be announced shortly:

“Sushiswap pools will be incentivised from next week to grow liquidity. A two-way bridge between BNB.RUNE and ETH.RUNE will be launched within 72hours to help arbitrage and move the supply.”

The volume of RUNE is surging with this news, reaching all-time highs per data source CoinGecko.

DeFi recovery

RUNE’s rally underscores the ongoing decentralized finance recovery in spite of the fact that Ethereum is around 20 percent below its recent highs of $1,350.

The decentralized finance market is outperforming today despite further consolidation in the top players.

According to CryptoSlate market data, coins such as Compound (COMP), Ren Network (REN), Aave (AAVE), Uniswap (UNI), and many others are up 5-10 percent in the past 24 hours.

This rally comes shortly after Brian Brooks, the acting Comptroller of the Currency, said that banking is being driven forward by DeFi, in a similar manner to how autonomous tech is driving forward transportation:

โ€œOther DeFi projects include decentralised exchanges that allow users to trade without brokers, and protocols for lending that do not involve loan officers or credit committees. Although these โ€˜self-driving banksโ€™ are new, they are not small. They are likely to be mainstream before self-driving cars start to fly.โ€

Many think that this comment from the top Treasury official is a long-term validation of this space.

THORChain Market Data

At the time of press 9:30 pm UTC on Jan. 13, 2021, THORChain is ranked #74 by market cap and the price is up 36.96% over the past 24 hours. THORChain has a market capitalization of $285.02 million with a 24-hour trading volume of $78.68 million. Learn more about THORChain ›


9:30 pm UTC on Jan. 13, 2021


Crypto Market Summary

At the time of press 9:30 pm UTC on Jan. 13, 2021, the total crypto market is valued at at $985.31 billion with a 24-hour volume of $130.08 billion. Bitcoin dominance is currently at 68.69%. Learn more about the crypto market ›

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Posted In: DeFi, Price Watch