Date: 2022-04-29

This analysis focuses on the flow of the $RUNE token.

All data is from between April 10th 2021 and April 29th 2022.

Overview

What is THORChain?

THORChain is a blockchain, based on Cosmmos and Tendermint. It offers native swapping of assets between blockchains.

THORChin

What is $RUNE?

$RUNE is THORChains native token used for governance, staking, bonding, rewards, and trading.

Methods

• queried and filtered thorchain.transfers for transfered $RUNE
• generated $RUNE(ERC20) chart from ethereum_core.fact_hourly_token_prices
• searched twitter for THORChain events
• all data is from between 2021-04-10 till 2022-04-29

Analysis

How many $RUNES were transferred weekly?

How many $RUNES were transferred daily?

Looking at the weekly volumes of transferred $RUNE, I can see a few spikes, downs and nearly 0 volume.

• Week of June 14th, 2021 - spike
• Week of July 26th 2021 - 0 volume
• Week of October 25th, 2021 - spike
• Week of January 3rd, 2022 - spike
• High Volume starting in the week of February 28th, 2022

Let's have a look at the daily chart to get a better understanding ...

What happened on these days to THORChain?

Taking a deeper look on the daily transfer volumes, I can see more clearly see that something is happening on certain days.

• Spike on June 15th, 2021
• Spike on June 21st, 2021
• Zero volume starting July 23rd till August 10th, 2021. Low volume comes back starting on August 10th.
• Spike on Oktober 26th, 2021
• Spike on November 3rd, 2021
• Huge Spike on January 3rd, 2022
• Higher volume starting in February 2022
• Spike on March 5th, 2022

I will take a closer look at the days(events) where these 'things' happen and search the dates on twitter.

After some research on Twitter, I found out something about what happened on several dates:

• Spike on June 15th, 2021
• Spike on June 21th, 2021
• July 23rd, 2021: THORChain got hacked
• Low volume comes back starting on August 10th.
• Oktober 26th, 2021: 30m RUNE added to the protocol reserve
• Spike on November 3rd, 2021: $135m in liquidity committed to pools
• January 3rd, 2022: All In Native RUNE - RUNE converted to native $RUNE
• Higher volume starting in February 2022 *March 5th, 2022: More native chains integrated, Synths, THORFi

Source: Twitter

Do these events have an impact on the price?

Conclusion

• Every events is responsible for massive increase or decrease of transfer volume
• Events have also an influence on price
• Even after a hard time THORChain is doing good and adding important features

Thanks for reading!

This analysis was created on 2022–04–29 for a bounty at Flipside Crypto by piper to answer the following questions:

THORChain - $RUNE Flow: Chart the amount of daily + weekly volume of transferred $RUNE

All data used are from Flipside Crypto.

When I compare $RUNE Price Chart with Transfer Volume I can see that most events have an impact on price and volume. Here are two examples:

• Adding $RUNE to the protocol reserve and committing $135m to liquidity pools lead to a price increase!
• Integration of more native chains and introduction of Synths, THORFi etc. also lead to a volume and price increase!