THORChain Achieves Record Swap Volume, Lending Activity Surges
THORChain Achieves Record Swap Volume, Lending Activity Surges
🚀 Record Volume, Lending Boom
THORChain, a decentralized cross-chain liquidity protocol, has reported record swap volume exceeding $20 billion since the start of 2024, with over half of this volume generated in the last month alone. The platform has also witnessed a significant increase in lending activity, with collateral deposits of Bitcoin and Ethereum surging in recent weeks. THORChain's lending module allows users to borrow against their cryptocurrency holdings without interest or expiration, providing a unique opportunity in the DeFi landscape. As the protocol continues to gain traction, industry observers anticipate further growth in THORChain's swap volume and lending activity in the coming months.
🌊 Streaming swap has started [9c5u]: 68.0 BTC ($4.7M) → ⚡ → ETH / 485.8ᚱ clout 299 swaps every 3 blocks, duration is about 1 hour 29 min + outbound delay. Track Tx: track.ninerealms.com/AA0E55E881FB61…
THORChain just passed $40b in total volume 🎉 For months now, processing >$100m every 24h Next target? $1 billion in daily volume Onwards
Since the start of 2024, swap volume on @THORChain has exceeded $20 billion, with over half of this volume generated in the last month alone. As we move into Q2, what can we anticipate for @THORChain's swap volume?
WOW one of the biggest opportunities to eat a DeFi platform's lunch has just presented itself for @THORChain MakerDAO has "Temporarily" raised their interest rate to 17.25% as of 12 hours ago. I was running math on my vault and I am now paying $60,375 PER YEAR in interest
Just pulled some lending numbers. 3968 total loans to date on THORChain. 3046 come from THORSwap. THORSwap accounts for > 76% of all loans. By volume: $37,685,622 / $46,964,769 Collateral TS/TC (80.24%) $14,550,546 / $18,398,112 Borrowed TS/TC (79.09%) Basically, 80% of all
> they don’t know @thorchain lending is an option
🏦→ Loan open [58nx] Collateral deposited: 3.0 BTC ($209,550) CR: x2.0 Debt: $104,643 Target asset: BTC dashboards.ninerealms.com/#lending
$RUNE Highest monthly volume on @THORChain and we are not even halfway through the month....we are gonna see Billion dollar daily volumes soon. #THORChads #Thorchain
I'm doing a small scale test of borrowing BTC against my BTC using shapeshift.com So far, I am liking what I am seeing.
Approaching the Peak: @THORChain Nears All-Time High Trading Volume 🔹The rise of the $RUNE Ecosystem has been significant, as the ecosystem is currently processing over 100M in daily volume. 🔸@Thorchain can capitalize on the latest volatility, as the DEX is perceived as
🌊 Streaming swap has started [6e8e]: 6.0 ETH.WBTC ($402.0K) → ⚡ → BTC / 14.4ᚱ clout 192 swaps every 3 blocks, duration is about 57 min 36 sec + outbound delay. Track Tx: track.ninerealms.com/664A3BFC10F1F3…
$RUNE is fully distributed. The Treasury sits on 7m RUNE (1.4% of supply) for long term ecosystem funding. Literally everything else is circulating, burnt or locked in the protocol. Major investors all puked last cycle. Only the thorchads hold rune now.
This one chart summarizes @THORChain's journey to becoming the #1 cross-chain DEX in the industry. The network survived the Terra blow up, 2 year bear market, and growing pains while scaling, and now its doing >$1b in volume per week. We have more scaling to do, onwards.
🏦→ Loan open [0787] Collateral deposited: 520.7 ETH ($2,097,543) CR: x2.0 Debt: $1,047,035 Target asset: ETH.USDC dashboards.ninerealms.com/#lending
Collateral is being onboarded onto THORChain at a rate of $1m/hour. Previously it was $1m/day. At this rate, lending caps will be full in a week. However, Lending Caps are based on RUNE:L1 prices. Any price reflexivity will result in a higher collateral cap.
Liquidity on @THORChain is surging. This surge could be attributed to the price action of $RUNE, which increases the value of liquidity pools when measured in dollars. However, the question arises: Is this surge affecting the profitability of liquidity providers (LPs)?
Retail may not be here already, but when they are, one thing is certain: @lifiprotocol will be part of their foray into crypto. Robinhood — the home of retail. MetaMask — the entry point to the EVM ecosystem. Phantom — the gateway to the memecoin casino. All of them have one
🌊 Streaming swap finished 👤[c819]: 120.0 $ETH → ⚡ → 6.1 $BTC ($435.3K) ShapeShift Aff. fee: $435.3 (0.1%) Slip: 0.030 %, liq. fee: $221.3 ⏱️ Time: 2 min 36 sec. runescan.io/tx/A0CDA7D6716…
🌊 Streaming swap has started [1123]: 350.0 ETH ($1.1M) → ⚡ → BTC / 2,058ᚱ clout Swaps every 10 blocks. Track Tx: track.ninerealms.com/A24DB72E2AB06E…
Loans are streaming in at a huge rate. As RUNE is reflexive, the space just keeps opening up. The caps (right now) can now onboard a total of $216m in Collateral. Let's gooo!
At least they are talking about us. I wouldn't advise anyone to put #BTC into @thorchain without having done proper due dilligence. For the majority it is better to hodl cold storage. But thorchain offers a fantastic option to those willing to take the risk. #RUNE
Time to watch the next class get REKT. Nothing comes without risk. Ever. Protect your #Bitcoin at all costs.
March 2024 was the first month in THORChain history with over $10b in trading volume 🎉 A major win for DEXs, but the goal is unambiguously to flip the volume and liquidity of centralized exchanges. Bitcoin liquidity will live natively, on-chain. Onwards
🏦→ Loan open [hye3] Collateral deposited: 4.96 BTC ($325,293) CR: x2.0 Debt: $162,356 Target asset: BTC dashboards.ninerealms.com/#lending
@THORChain is the leading player in this category of cross-chain BTC/ETH DEX, and it achieved $2.29B in trading volume last week, surpassing Curve Finance. This implies that smart money is gradually shifting from BTC to ETH in parts.
🌊 Streaming swap has started [1123]: 350.0 ETH ($1.2M) → ⚡ → BTC / 1,982ᚱ clout Swaps every 10 blocks. Track Tx: track.ninerealms.com/D5C33D551576A6…
THORChads grind. The last 3 years everything has been thrown at the protocol and yet currently shooting for ATH metrics. Onwards. $RUNE
This one chart summarizes @THORChain's journey to becoming the #1 cross-chain DEX in the industry. The network survived the Terra blow up, 2 year bear market, and growing pains while scaling, and now its doing >$1b in volume per week. We have more scaling to do, onwards.
new loan activity today new Collateral totals: BTC: 53.86 ETH: 649.54
I noticed from @THOR_InfoBot this huge $eth LP deposit 22 days ago. They’re currently up 70 eth already ⚡️🔥
🐳→⚡ Add liquidity 👤[46d9]: 212.5K Rune ($1.9M) ↔️ 2.0M $USDC (ETH) ($2.0M) Total: $3.9M (12.52% of pool) Pool depth is $31.1M now. runescan.io/tx/307860A788C…
People can borrow 50% against their $BTC on @THORChain with 0% interest and no liquidations… and this BUYS and BURNS $RUNE off the open market… and the current caps allow another 20M $RUNE to be bought and burned… and nearly nobody understands this yet… interesting.
Cross-chain liquidity protocol @THORChain has seen its usage and TVL surge after burning 60M RUNE last week to boost its lending capacity. $RUNE is up nearly 70% in the past week🚀 Read more: thedefiant.io/thorchain-thun…
🏦→ Loan open [q36j] Collateral deposited: 2.0 BTC ($135,418) CR: x2.0 Debt: $67,637 Target asset: ETH.USDC dashboards.ninerealms.com/#lending
THORChain investment thesis: 1. @THORChain's fundamentals are arguably at an all time high: users, volume, liquidity, network effect, integrations, features, etc. It's a battle tested protocol with a large moat and strong community behind it. This is reason enough for an
This Thorchain lending with native #Bitcoin collateral might be a very big deal. - Unlocks DeFi for Bitcoin - Never sell your BTC, just borrow against it - No liquidations, so no cascading liquidations: 'fuck begets fuck' never gets rolling. - No stored collateral, so nothing to
🌊 Streaming swap finished 👤[tzxz]: 10.3 $BTC → ⚡ → 689.1K $USDT (ETH) ($688.6K) Aff. fee: $4.8K❗ (0.7%) Slip: 0.040 %, liq. fee: $351.4 ⏱️ Time: 12 min 24 sec. runescan.io/tx/DEDB550E4B7…
🏦→ Loan open [2f8a] Collateral deposited: 21.0 ETH ($72,403) CR: x2.0 Debt: $36,239 Target asset: ETH.USDC dashboards.ninerealms.com/#lending
🌊 Streaming swap has started [0663]: 400.0 ETH ($1.5M) → ⚡ → BTC / 10.3ᚱ clout 91 swaps every 9 blocks, duration is about 1 hour 21 min + outbound delay. Track Tx: track.ninerealms.com/D34806F10CB77F…
🌊 Streaming swap finished 👤[zqmu]: 2.9 $BTC → ⚡ → 56.3 $ETH ($203.5K) Aff. fee: $1.4K (0.7%) Slip: 0.030 %, liq. fee: $106.8 ⏱️ Time: 1 min 12 sec. runescan.io/tx/3817E943671…
🏦→ Loan open [a352] Collateral deposited: 50.0 ETH ($177,566) CR: x2.0 Debt: $88,630 Target asset: ETH dashboards.ninerealms.com/#lending
Lending on @THORChain averages around 5% of the daily volume (in purple), which is a notable increase since 2024. Despite not dominating the volume metrics, it remains a pivotal component of THORChain's ecosystem and strengthens THORChain's position in the DeFi landscape.
Anyone know what fraction of this 10B is purely from lending? Looks like there is 15M $RUNE worth of collateral deposited so approx 130M USD. So even if 1 deposit causes 2 or 3 swaps, it's still only a small fraction of all the volume right?
🌊 Streaming swap finished 👤[8e77]: 211.0K $USDT (ETH) → ⚡ → 3.1 $BTC ($209.2K) Aff. fee: $1.5K (0.7%) Slip: 0.040 %, liq. fee: $104.3 ⏱️ Time: 3 min 48 sec. runescan.io/tx/130E8B892B5…
🌊 Streaming swap finished 👤[tkes]: 5.8 $BTC → ⚡ → 115.2 $ETH ($404.4K) THORSwap Aff. fee: $1.2K (0.3%) Slip: 0.030 %, liq. fee: $206.8 ⏱️ Time: 7 min 30 sec. runescan.io/tx/8846ACFD883…
⚡DeFi degens have piled more than $100 million into Thorchain after the cross-chain liquidity protocol raised its collateral limits. The surging activity follows a spike in Thorchain's volume and TVL 👀 Read More: thedefiant.io/thorchain-loan…
🏦→ Loan open [su69] Collateral deposited: 2.57 BTC ($169,349) CR: x2.0 Debt: $84,558 Target asset: ETH.USDC dashboards.ninerealms.com/#lending
🏦→ Loan open [6341] Collateral deposited: 42.0 ETH ($150,182) CR: x2.0 Debt: $75,110 Target asset: ETH dashboards.ninerealms.com/#lending
🏦→ Loan open [4837] Collateral deposited: 50.0 ETH ($178,855) CR: x2.0 Debt: $89,168 Target asset: BTC dashboards.ninerealms.com/#lending
⚡BREAKING: New monthly volume ATH on THORChain and we are only halfway through March. Previous ATH- $5.17 B, November. $RUNE onwards!
🐳→💰 Add to savings vault 👤[kwc2]: 3.0 synth $BTC Total: $194.6K Savers cap is ▰▰▰▰▰▰▱▱▱▱ (61.8%) full. You can add 1.5K BTC more. runescan.io/tx/A624F33669A…
🏦→ Loan open [4cy7] Collateral deposited: 7.5 BTC ($509,221) CR: x2.0 Debt: $254,284 Target asset: ETH.USDC dashboards.ninerealms.com/#lending
Now tracking THORChain Lending on @THORChain THORChain Lending provides USD-denominated loans against native assets as collateral, with no interest or expiry
Over $3.1 BILLION traded on @THORChain in the past 7d. The utility is real. Resilient project. Don't fade. 💫 $RUNE
The integration of @THORChain into @lifiprotocol has experienced a consistent increase in swap activity, with close to 500 swaps conducted. A peak of 48 swaps occurred on 24th March 2024, marking it the highest number of swap transactions.
The redemption arc has begun. ATH in swaps, volumes, users, TVL. THORChads have ground, worked, hustled and shipped for years for this moment. The largest cross-chain DEX is about to become much, much larger. Onwards.
🏦→ Loan open [jap2] Collateral deposited: 2.0 BTC ($131,480) CR: x2.0 Debt: $65,680 Target asset: ETH.USDT dashboards.ninerealms.com/#lending
🏦→ Loan open [4268] Collateral deposited: 36.0 ETH ($129,004) CR: x2.0 Debt: $64,489 Target asset: ETH.USDC dashboards.ninerealms.com/#lending
$0 liquidations on @THORChain lending. That's it. $RUNE
🏦→ Loan open [BtiB] Collateral deposited: 7.0 BTC ($469,565) CR: x2.0 Debt: $234,527 Target asset: BTC dashboards.ninerealms.com/#lending
Update -- I have now successfully used Thorchain's native #Bitcoin lending at low power. I put in $527 worth of native #Bitcoin as collateral (.0077 BTC) (Note: I needed to use the local @ShapeShift Bitcoin wallet -- I could not get it to work with OKeX web wallet and
So @THORChain currently has space for 17.82m RUNE worth of collateral for new loans. At a $RUNE price of $11, this is ~ $200m worth of collateral that can be deposited into TC. 50% of loan collateral is used to market buy and burn $RUNE. This creates a price agnostic $100m bid
TEN BILLION DOLLAR MONTHLY VOLUME TARGET ACHIEVED!!! ⚡️🐴 ▓▓▓▓▓▓▓▓▓▓ 100% 🔥🔥🔥 $rune
$RUNE long and strong.... has the best fundamentals and usage at ATH. Pool Liquidity at #AllTimeHigh and it's not gonna stop anytime soon. It's @THORChain 's time to #ReignOn
What happens next: 1) 100% of nodes update: V1.128 code path executed 2) 60,000,000 $RUNE moved into RESERVE and insta-burned 3) Lending Caps opened ~$100m in Collateral Space opened 4) Resume onboarding collateral at a rate of $1m/day Who's ready?
🕖 Version upgrade progress ▰▰▰▰▰▰▰▰▰▰▰▰▱▱ 83 % 85 of 102 nodes upgraded to version 1.128.0. ⚡️ Active protocol version is 1.127.2 (17 nodes). * Minimum version among all active nodes.
🔄 Rujira's instant lending
**THORChain's block-based settlement creates a timing gap** that prevents perfect real-time arbitrage. Swaps settle at the end of each block in a fixed order—secure by design, but not instant. **Rujira Network bridges this gap** through its Virtualisation Strategy: - Users receive tokens **instantly** from Rujira's lending pool - Rujira executes the actual THORChain swap at block end - Charges a small premium while absorbing brief price risk **The result**: automatic arbitrage every block when price deviations occur. This keeps THORChain prices more accurate, reduces slippage, and speeds up execution when combined with Rapid Swaps. Previously, external bots captured ~$3M monthly in arbitrage profits from average 0.40% pool price deviations. Rujira's approach aims to internalize 10-50% of the estimated $800M monthly arbitrage volume, returning value to the ecosystem while improving user experience through tighter spreads and better quotes.
🔒 Privacy Paradox
**THORChain maintains full transparency while supporting privacy coins like Monero** The protocol demonstrates that integrating privacy-focused assets doesn't compromise its transparent architecture. Every swap remains visible on-chain, even when involving privacy coins. **Key points:** - Protocol-level transparency persists regardless of asset privacy features - Monero integration expected within weeks - Native cross-chain swaps without wrapped tokens or KYC requirements - Direct API access for builders through THORChain's Native API Unlike centralized exchanges that require identity verification for privacy coin trades, THORChain enables permissionless swaps while maintaining protocol transparency. [Read the full technical explanation](https://blog.thorchain.org/thorchain-is-transparent-even-with-privacy-coins)
THORChain Could Enable Monero Arbitrage After Exchange Delistings
As centralized exchanges potentially delist Monero, THORChain may become critical infrastructure for price discovery and arbitrage. **Key Points:** - @devel484 explains how arbitrage would function if spot exchanges remove Monero listings - THORChain's decentralized liquidity protocol could serve as the primary price-setting mechanism - The integration would allow traders to maintain market efficiency without centralized venues - Discussion centers on what price discovery looks like post-integration The shift would represent a significant test of decentralized infrastructure's ability to replace traditional exchange functions.
THORChain Enables Wallet-Free Swaps Through Pre-Registration
THORChain has introduced a swap mechanism that eliminates the need for wallet connections during execution. **How it works:** - Users pre-register swap intent on-chain, specifying destination asset and receiving address - System generates a reference ID and QR code with vault address and exact amount - Users scan and send from any wallet type (hardware, cold storage, etc.) - THORChain matches incoming transactions to registered intent and executes to destination **Key benefits:** - No wallet connection required at execution - No open approval contracts - Uses native L1 transactions only
EU Users Choose Self-Custody Over New Exchanges After MiCA Restrictions
Following MiCA regulations that restricted EU exchange access in July, millions of users opted for self-custody rather than seeking alternative platforms. **Key Developments:** - EU users responded to exchange restrictions by taking direct control of their funds - Decentralized exchanges (DEXs) saw increased adoption as centralized options became limited - THORChain emerged as a significant infrastructure provider enabling this transition **What Changed:** The regulatory shift forced users to reconsider their relationship with centralized platforms. Rather than waiting for compliant exchanges, many moved to self-custody solutions and decentralized trading infrastructure. Analysis from [Crypto.News](https://crypto.news/nobody-needed-exchanges-to-begin-with/) and [CoinCodex](https://coincodex.com/article/87303/self-custody-is-the-trade-again/) highlights how this regulatory pressure accelerated a trend toward decentralization that was already underway. The shift demonstrates that users can maintain trading activity without relying on traditional exchange infrastructure when given the right tools and protocols.