It is worth pointing out that CoinMarketCap, which is usually a very reliable source for data about cryptocurrencies, did not have a circulation figure listed, which meant that there was no data available in terms of its current market cap. Since then, though, there has been a little bit of a recovery and, on 7 September 2022, it was trading at about $1. Things got even worse, though, when it dropped to an all-time low of $0.8537 on 31 August. In June, the cancellation of withdrawals on the Celsius (CEL) crypto lending platform confirmed the bear market and it reached a low of $1.72 on 30 June. On May 12, as the market was in turmoil following the depegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency, it sank to a low of $3.94. The token dropped below $100 on 10 February and below $10 on 2 May. While January saw something of an upturn in the token’s fortunes, with it rushing to peak at $240.33 on 26 January, things have gone significantly downhill since then. The price then crumbled after this and the token closed the year at $45.48. THOR first came onto the open market in late 2021 and, on 10 December, it reached an all-time high of $481.97. You might see references to such things as a THOR coin price prediction, but these things are wrong, strictly speaking. It is also worth pointing out that, because THOR is based on the Avalanche blockchain, it is a token, rather than a coin. While pseudonymous founders and leaders are not that uncommon in the world of crypto – after all, Satoshi Nakamoto, the founder of bitcoin ( BTC) almost certainly uses a made up name – it might be something that could, potentially, detract people from investing in the system and its native token.
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Thor Financial was founded in 2021 by someone calling themselves Heimdall, who claims to be an “8+ year software engineer with an ample background working as a consultant for Fortune 500 companies, and someone who uses the name Preacher.
It should be noted that, at the time of writing (7 September 2022), there was nothing on the Thor Financial website about what THOR would be used for, although we should also mention that the platform’s website did say that both a non-fungible token ( NFT) marketplace, as well as staking and a THOR lottery are “coming soon”, with staking set to arrive on the network by the end of September 2022. As pioneers in the market, our goal is to add an ever-expanding ecosystem, leading to widespread adoption and healthy, long-term returns for our community.”Įvery blockchain-based system needs to have its own cryptocurrency, and Thor Financial has the conveniently named THOR. We are a community-driven organisation focused on providing value through utility, transparency, and sustainability. We aim to be the premier hybrid DeFi-as-a-Service (DaaS) and Nodes-as-a-Service (NaaS) protocol. To quote the system’s whitepaper: “Thor Financial is a diverse ecosystem of protocols and products hosted on the Avalanche ( AVAX) blockchain. This gives people the opportunity to make a passive income from their crypto assets.Īnyway, one such blockchain-based protocol that aims to help people get yield and protect them from any potential downside is Thor Financial. One of the things that a lot of DeFi systems offer is the ability to earn yield, or interest, on their investments. Now, as it stands, DeFi is a pretty big deal when it comes to the various sectors that make up the world of crypto currency. These tools are often available in the form of decentralised apps, or DApps for short. Decentralised finance has the goal of providing a modern, fairer alternative to all of these services that can be accessed over the internet. The goal is for a fairer version of traditional financial services which are accessible online. Advocates of decentralised finance aim to reach these people, which will, it’s hoped, promote financial inclusion. DeFi is the idea that financial transactions and services can exist without banks.Ī World Bank report from 2017 said there were 1.7 billion people who did not have a bank account, but roughly 66% of them owned a mobile phone. One of the most important concepts when it comes to both cryptocurrency and blockchain technology is that of decentralised finance ( DeFi). Thor Finance is a protocol designed to help protect people from the worst of the cryptocurrency market, but what is THOR? Let’s see what we can find out, and also take a look at some of the THOR price predictions that were being made as of 7 September 2022. US30 US Wall Street 30 (USA 30, Dow Jones)
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