THORChain Price in India (RUNE)

THORChain is a blockchain platform that allows users to swap cryptocurrencies across various blockchain networks without intermediaries. The platform’s main focus is to create bridges between blockchains and enable non-custodial, frictionless, and decentralized swaps. It is powered by its native token RUNE which facilitates cross-chain trades and governance and incentivizes liquidity providers. 

THORChain (RUNE) was founded by anonymous developer/developers in 2018.

• Cross-chain swaps: One of the primary features of the THORChain network is its decentralized, cross-chain swaps with different blockchain networks without using wrapped tokens or intermediaries.

• RUNE token: RUNE token has several utilities within the ecosystem such as paying fees within the network, reward liquidity providers, and staking to secure the network and also earn staking rewards. 

• Liquidity providers: On the THORChain network, users can provide liquidity in native assets like Bitcoin or Ethereum and earn fees for facilitating trades.

• Non-custodial: THORChain is non-custodial, meaning users have full control of their assets throughout the swapping process.

RUNE is the native currency of the THORChain Network, a decentralized protocol that can provide liquidity to different platforms. The token was launched in 2019 and has been around in the crypto market for over 4 years, establishing itself as a prominent cryptocurrency. As of September 2024, RUNE ranks at #52 with a market cap of $1.33B. The token has a trading volume of $140.77M, ranking at #41 in the overall trading volume. It has an all-time high of $21.26, recorded on May 19, 2021. Technical experts predict the token to trade around $20.22 by 2030, making it a promising crypto. 

Download the CoinSwitch app to invest in RUNE.

• RUNE can be bought and sold from crypto exchanges.

• Token holders can stake their RUNE tokens to secure the THORChain network and earn passive rewards.

• RUNE token holders can participate in the governance of the protocol. 

• RUNE token is used to pay fees within the platform and to reward liquidity providers.

• THORChain Network enables decentralized, cross-chain swaps with different blockchain networks.

• THORChain is non-custodial, so users have full control of their assets.

• Users can earn RUNE tokens by providing liquidity to the network.

• RUNE is subject to market volatility which may impact its price. 

• In 2021, the THORChain Network suffered a hack, raising concerns about its safety.

• The concept of cross-chain swaps might be difficult to understand for novice crypto traders.

• To trade in THORChain (RUNE), download the CoinSwitch app.

• You can start with as low as ₹100.

• Trade cryptos like RUNE at a nominal fee with CoinSwitch.

THORChain had an Initial DEX Offering (IDO) instead of an Initial Coin Offering (ICO), where RUNE tokens were distributed through a decentralized exchange. IDO, as the name suggests, is a type of crowdfunding conducted on decentralized exchanges (DEX) where participants can acquire tokens using established cryptocurrencies. THORChain raised $1.5 million in its IDO which was conducted in July 2019.