FTX Explains RUNE Crypto and VC Spectra (SPCT) Increase

Crypto News- FTX Explains RUNE Crypto and VC Spectra (SPCT) Increase; recent statement on Twitter/X indicates that the company is actively working on redirecting bridged tokens back to their respective native blockchains. Additionally, they have mentioned their plans to transfer Solana (SOL) to BitGo, a qualified custodian, following their recent bankruptcy. While the exact numbers and details regarding these actions remain undisclosed, it’s important to note that FTX still owes over $8 billion to its customers.

FTX Explains RUNE Crypto and VC Spectra (SPCT) Increase

The ongoing questions revolve around whether FTX will make a comeback in the future. The possibility exists, particularly after the company settles its outstanding debts and potentially rebrands itself to regain its reputation as a trustworthy exchange.

Now, let’s shift our focus to THORChain (RUNE), which is among the top contenders in the world of decentralized finance (DeFi) coins.

THORChain (RUNE) has been carving a noteworthy path in the cryptocurrency landscape, with its media team actively highlighting a standout feature called ‘streaming swaps.’ Launched in August, streaming swaps have garnered significant interest, particularly from high-net-worth investors, thanks to their innovative approach. These swaps represent a departure from traditional trading mechanisms, involving the subdivision of trades into smaller, more manageable parts, which are then methodically processed over a period of up to 24 hours. This distinctive feature has brought about several positive outcomes within the THORChain ecosystem.

First and foremost, streaming swaps have proven to be a game-changer in addressing the issue of slippage, which has historically plagued traders in volatile markets. By breaking down trades into smaller portions and processing them gradually, THORChain has managed to significantly mitigate slippage, enabling users to execute trades at more favorable prices. This reduction in slippage is particularly attractive to traders seeking to maximize their returns while minimizing unexpected losses.

Furthermore, streaming swaps have delivered a welcome solution to the persistent problem of high gas fees in blockchain transactions. Gas fees can often present a significant barrier to entry for traders, especially on networks like Ethereum, where congestion can drive up transaction costs. THORChain’s approach helps users circumvent the exorbitant gas fees typically associated with executing large trades all at once.

Moreover, the introduction of streaming swaps has streamlined the trading process, making it more user-friendly and accessible. Traders are no longer burdened with the complexity of executing intricate transactions manually; instead, the system efficiently manages the breakdown and gradual execution of orders, ensuring a smoother and more efficient trading experience.

First and foremost, streaming swaps have effectively addressed the issue of slippage, which can be a significant concern for traders, particularly in volatile markets. By breaking trades into smaller portions and processing them gradually, THORChain has managed to minimize slippage, allowing users to execute trades at more favorable prices.

Furthermore, streaming swaps have proven beneficial in reducing gas fees. Gas fees can often be a major deterrent for traders, especially on networks like Ethereum, where congestion can lead to exorbitant transaction costs. THORChain’s approach helps users avoid high gas fees associated with executing large trades all at once.

Additionally, the introduction of streaming swaps has simplified the trading process, making it more user-friendly. Traders no longer need to execute complex transactions manually, as the system takes care of breaking down and processing orders over time.

Another notable development within the THORChain ecosystem is a unique form of lending that operates without interest, expiry dates, or the risk of liquidation. This lending mechanism aligns with the ethos of decentralized finance (DeFi) by offering more accessible and flexible financial services to users.

THORChain’s decentralized exchange, THORSwap, has also been gaining substantial traction within the DeFi community. The platform’s usability and innovative features have contributed to its popularity and increased trading activity.

As a result of these positive developments, THORChain experienced a remarkable milestone by surpassing $1 billion in trading volume last month, marking the highest volume recorded in over a year. This achievement underscores the project’s growing influence and importance within the crypto market.