A leading crypto research firm is highlighting the sizeable gains made in just one week by a decentralized cross-chain liquidity protocol.
The data-crunching team at Messari shares on Twitter how THORChain (RUNE) brought the highest cumulative returns by a wide margin and pulled away from the rest of the decentralized finance (DeFi) in the span of seven days.
[adinserter block="1"]“The DeFi sector had the widest range of returns recorded since bringing back weekly recaps, spanning 77% across.
Leading the sector this week was THORChain’s RUNE with a substantial 52.4% return.”
The firm next looks at six different sectors within the crypto space to identify this week’s top gainers.
Messari says DeFi is the big winner at 8.6% as led by THORChain, followed by gaming at 7.9%.
“For the fourth week in a row, the sectors covered have seen a 180° reversal.
This week, the DeFi sector came out on top as the best performer (8.58%).
The second spot was taken by the gaming sector, bringing in 7.85% for the week.”
Messari researcher Guillermo Avilés says in the latest Weekly Recap newsletter that RUNE’s rise is partly due to the successful introduction of synthetic-asset trading within its ecosystem.
“The catalyst behind RUNE’s rally can be attributed to the cross-chain liquidity protocol’s recent feature introductions which include the launch of synthetics, coupled with the current positive sentiment within investors towards Cosmos-based projects.”
Synthetic assets, also known as synths, create tokenized derivatives by combining cryptocurrencies and derivatives.
At time of writing, THORChain is up nearly 12% and trading for $8.88.
RUNE was priced at under $6 just a week ago.
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