RUNE Outperforms After Launching Streaming Swaps; Xverse Secures $5 Million in Seed Funding Led by Jump Crypto for Bitcoin Wallet Expansion

Daily Top Performer — THORChain (RUNE)

The broader equity market took a breather following massive selloffs in the past week, despite the July CPI print came weaker than expected. The broader cryptocurrency market followed suit, with Bitcoin and Ether dropping 0.21% and 0.18% respectively, in the past 24 hours. 

Today’s outperformer is RUNE, which surged 13.9% in the past 7 days after unveiling its innovative feature for enhanced price execution in large cross-chain trades.

Launched in 2018, THORChain (RUNE) is a decentralized, cross-chain solution that allows swapping of native assets across various blockchains. For instance, users can swap native Litecoin (LTC) into native Bitcoin (BTC), without going through another network like Ethereum, or wrapping the tokens. It runs on its own proof of stake (PoS) blockchain built with the Cosmos SDK. Recently, they launched Streaming Swaps which automatically splits a single transaction into several sub-swaps, reducing price slippage and consolidating them into one outbound transaction and streamline large-sized cross-chain trading. Users can optimize for time or price, and the platform is planning more customization options. Despite market fluctuations, THORChain continues to build, demonstrating a commitment to innovation.

Check Out the Latest Prices, Charts, and Data of RUNEUSDT!

Talk of the Town:

Xverse, a Bitcoin wallet designed to work with Bitcoin-native projects, has announced a $5 million seed funding round led by Jump Crypto, with participation from Franklin Templeton, the Bitcoin Frontier Fund, Old Fashion Research, and other strategic angel investors. Xverse's wallet, available as a Chrome browser extension and mobile app, supports networks like Ordinals, Lightning Network, and Stacks. The funding will help the company pursue advanced features and expand into decentralized finance (DeFi) and NFTs, areas traditionally dominated by Ethereum. The company sees Bitcoin as a significant platform for these applications and aims to become the primary wallet for Bitcoin-related applications, with ambitions to be considered the "MetaMask of the Bitcoin ecosystem."