"But it has gone down, do you think the price of THOR will go up again?"
Over the past few weeks, the THOR token founded by THORSwap which has seen a 300% climb has caught the attention of the cryptocurrency community as they flock to increase their holdings in the digital asset.
In addition to implementing the automated market maker (AMM) protocol and offering various unique features, THORSwap as a DEX aggregator has leveraged the THORChain network to facilitate cross-chain transactions.
By integrating 1inch and evaluating liquidity from over 50 sources on Ethereum (ETH), Polygon (MATIC) and Binance Smart Chain (BNB), THORSwap becomes an aggregator that allows users to choose various digital assets to exchange.
While THOR serves as a utility token for THORSwap that offers various incentives to traders, where they can benefit from revenue, revenue fee sharing and trading discounts.
Recently, ThorChain which introduced Synthetic Assets (Synths) to address the challenge of interacting with multiple blockchains has successfully increased the demand of THOR and its network's Total Locked Value (TVL) which is now at $218.80 million.
The string, users in THORSwap are more and more confident and believe in the digital asset after its trading activity and demand for cross-chain exchange facilitated by the THORChain protocol experienced a surge.
As the THORChain ecosystem continues to grow and demonstrate its value, the growth of the THOR token also highlights the increased adoption including the recognition of its platform in the crypto market.
Immediately after breaking through $0.86, THOR was seen shrinking to $0.33 before surging back to $0.36 in the last 24 hours.
