THORChain rises by integrating MetaMask

Key facts:

  • The rally pushed THORChain (RUNE) to seven-month highs.

  • MetaMask now supports THORChain for decentralized cryptocurrency exchanges.

THORChain (RUNE) is the native token of the network of the same name, and its price rise has made it stand out in the cryptocurrency market.

Over the past four days, RUNE has traded from $1.47 to $1.92, an increase of more than 20%. Such performance has taken its price to levels not touched seven months ago (especially since February 2023).

Among the hundred cryptocurrencies with the highest market capitalization, it was positioned as the second best performer over the past 7 days and 24 hours. This position is second only to Toncoin (TON), which has been rising since early August, according to CriptoNoticias.

RUNE remains the 53rd largest cryptocurrency asset by market cap, at $639 million. Source: CoinMarketCap.

RUNE price increases after the THORChain ecosystem shared that the MetaMask browser wallet now has support for its network via the unmanaged multi-chain plugin ShapeShift.

ShapeShift details that this makes the Ethereum wallet MetaMask compatible with different networks. This allows for the storage and transfer not only of RUNE and other cryptocurrencies, but also of Bitcoin (BTC).

THORChain’s new MetaMask support sparks market enthusiasm

Ecosystem enthusiast Joel Valenzuela explained that this support “means that tens of millions of people can now easily trade cryptocurrencies using decentralized protocols instead of centralized exchanges.” He said, “This is a very big deal. Good news that few people pay attention to”.

Likewise, other members of the community have expressed enthusiasm for the initiative. Among them, a trader known as the “Wolf of Defi” said that this support is “bullish” for RUNE because “it will forever change the Web3 experience by bringing cross-chain transactions to the most used wallets.”

In addition to this, earlier this week, Jiujie, the node operator and developer of the RUNE network, made encouraging comments about its market. He said, “In the next 12 months, through integration, THORChain will become the undisputed industry leader in decentralized first-layer native asset settlement.”

Nonetheless, it is worth noting that THORChain is a layer 1 network that allows decentralized transactions between multiple chains, notably Bitcoin, Ethereum, BNB Chain, Avalanche, Cosmos Hub, Dogecoin, Bitcoin Cash, and between Litecoin.

Information source: Compiled from CRIPTONOTICIAS by 0x Information.Copyright belongs to the author Bárbara Distéfano and may not be reproduced without permission.

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