THORChain

THORChain is a layer-1 blockchain that works as a cross-chain decentralized exchange (DEX). It lets you swap native coins between blockchains, such as BTC to ETH, without wrapped tokens or a central party. This page tracks THORChain trading volume, its pools and the coins it supports in real time, compared with other decentralized exchanges.

How does THORChain work?

THORChain is built with the Cosmos SDK. Node operators bond RUNE, the network's token, and secure vaults on each connected chain. Each pool pairs RUNE with a native asset, so a swap goes from one asset to RUNE and then to the other asset. You use it through wallets and front-ends such as THORSwap, without an account.

What coins can you swap on THORChain?

THORChain supports native Bitcoin, Ethereum, BNB, Dogecoin, Litecoin, Cosmos and other coins. See all coins traded on THORChain and its THORChain markets.

What are the THORChain fees?

Each swap pays a liquidity fee that depends on slippage, plus an outbound fee for sending coins to the destination chain.

Is THORChain safe?

THORChain was exploited several times in 2021 and paused trading to fix the issues. It has run without major exploits on its swaps since then. In 2025 it drew criticism because hackers used it to move stolen funds.

THORChain compared with other DEXs

For Cosmos-based swaps, compare THORChain with Osmosis trading volume.

Open the app: THORChain swap.