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THORChain DEX Volume Soars amid Bybit Hack: RUNE Jumps 22%
RUNE, the native token of THORChain, a non-custodial, cross-chain liquidity protocol, has shot up a massive 22% in the past 24 hours. At the time of writing, the digital asset trades at $1.63 with a market cap of $574 million. This price surge amid a bearish market follows a 300% increase in the DEX trading volume in the last 30 days.
The RUNE token trading volume stands at a whopping $1.2 billion, as DefiLlama data shows a significant drop in total value locked (TVL) since late December. At press time, the THORChain TVL stands at a substantial $211 million. Despite a drop in TVL, the DEX volume shot up 300% to $667.73 million in the past week, suggesting increased activity.
THORChain, Bybit Hack, and TCY Debut
THORChain has received a lot of criticism following the recent attack on leading crypto exchange Bybit, which resulted in a loss of 499K ETH. The hackers laundered a whopping $250 million using t
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