Thorchain hits 17%, leaving Defi tokens on track

At the time of writing, THORCHAIN’s own rune token was trading at about 7.13% in the last 18 hours and 83% last week, according to crypto metric platform CoinGecko.

In particular, the final push is part of the token’s “return” after a series of exploits. The project has suffered two serious security breaches in the past few weeks, which have seen the price of the Rune drop from about $ 8 to below $ 4.

On July 15, hackers stole 2500 ethereum tokens (ETH) (about $ 4.8 million at the time) from thorchain liquidity pools. In response, protocol developers have promised to pay money to liquidity providers affected by the project’s Treasury.

Torchein’s problems didn’t end there.

Less than a week later, the project was hit by another attack, this time the hacker even left a few clues for the team.

Rune still recovered, as the coin price has risen steadily over the past few weeks. Thanks to the latest rally, the market value of tokens—the combined price of all tokens currently in circulation—has returned to almost $ 2 billion.

Torchain leads defie
Meanwhile, other Defi tokens are decidedly trading sideways throughout the day. 

It comes from the assets of platforms such as Uniswap (SOLID, $21.03, -4.5%), Chainlink (link, $22.60, +1%), AAVE ($305.73, -3.4%), Maker (MKR) , $2,796.93, -3.8%), the compound (Comp,$ 391.5, -1.5%) and others can either pamper yourself in the red zone or just over the waterline. 

Total dollars seized under all Defi protocols as of August 3, 2021. Source: DeFi Pulse
However, according to Defi Pulse, there are currently more than $ 67 billion worth of locks on Defi platforms in the industry. The top three places were occupied by aave ($12.84 billion, blocked), InstaDApp ($9.49 billion) and Slope ($8.86 billion).

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