Bittime - Decentralized liquidity protocol THORChain recorded a monthly trading volume of $10 billion, becoming the highest recorded in its history. However, despite this success, some Bitcoin maximalists still doubt the platform's security regarding asset lending.
THORChain Announces Extraordinary Achievement
On March 27, THORChain's official social media account announced this incredible achievement. Data from Runscan shows total trading volume reached $10.26 billion during the month.
Bitcoin maximalists debate whether THORChain can provide adequate security for potential borrowers. This discussion revolves around the potential risks for Bitcoin owners who wish to lend their assets through this platform without interest.
Check Today's Crypto Market:
Experts Are Ready to Take Risks
Fred Krueger, a mathematician and Bitcoin investor, expressed his readiness to take the plunge by calling THORChain “real”. However, Dylan Le Clair, a Bitcoin analyst, rejected the claim, saying that relying on altcoin exchange rates for interest-free Bitcoin loans only magnifies the risks.
THORChain is a decentralized liquidity protocol that facilitates the exchange of native assets across multiple blockchains. The platform offers interest-free loans against major crypto assets such as Bitcoin and Ether, without implementing liquidation or fixed expiration dates.
Also Read How To Buy Crypto:
In the most recent upgrade on January 30, collateral requirements for Bitcoin and Ether were cut from 400% to 200%, allowing users to borrow half of the total value of the assets they provide.
However, there are concerns regarding the security and stability of THORChain. The protocol experienced problems in 2021 and 2023 which led to a temporary suspension of its operations. This creates uncertainty for investors who lend their assets through these platforms.
Check Crypto Prices Today:
How To Buy Crypto With Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn How to Buy Crypto on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.