In the past week, trading activity on the decentralized exchange (dex) Thorchain has experienced a significant surge, reaching $1.854 billion in trade volume. Data shows that Thorchain is currently the third-largest dex in terms of volume, following the popular dex protocols Uniswap and Pancakeswap.
2% of Global Bitcoin Spot Trading Channeled Through Thorchain
In the world of decentralized finance (defi), Thorchain has been recording notable volumes. At its core, Thorchain is a decentralized cross-chain infrastructure that facilitates the settlement of native assets across various blockchain networks.
Thorchain allows users to swap native assets between supported chains or deposit assets to earn yields from swaps. Thorchain was developed using the Cosmos SDK — a framework for building blockchain applications in Golang.
Archived statistics from defillama.com reveal Thorchain as the third-largest dex this week, with a total volume of $1.854 billion. Uniswap reported $12.021 billion, wh
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