In an announcement yesterday, April 13, Switzerland-based cryptocurrency exchange and custodian ShapeShift said that it is now fully integrated with the THORChain blockchain, allowing users to trade Bitcoin for Litecoin and Ethereum for the first time.

The move is a big deal because it is the first time that a decentralized trading platform has allowed cryptocurrency swaps across different blockchains, without the need for custodian-controlled bridging technology or encapsulated cryptocurrency.

We are satisfied with our launch Tweet embed On mobile today, we decided to launch #DEX On our web platform today as well.

Unlock all things! 🚀 🚀 🚀 pic.twitter.com/lgkUxl2QJ6

– ShapeShift 🦊 (ShapeShift_io) April 13, 2021

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“THORchain” and the interconnection between different blockchain networks:

The THORchain project team launched the much-anticipated MCCN on Tuesday, April 13, amid a great deal of hype from the crypto community, including ShapeShift CEO Eric Voorhees.

Less than a day before the launch, Voorhees stated that there will be a huge beneficial event for the cryptocurrency market, and said:

Decentralized exchange over native blockchain networks.

It has not been done before.

It is arguably the biggest event in the crypto market this week, although the impact may not be evident until a year or two later.

The THORchain project uses the cryptocurrency RUNE as a collateral and intermediary, so those who want to trade Bitcoin for Ethereum, for example, will get the exchange process through RUNE, with the end user not even noticing.

The THORchain platform has been in development for three years, and its launch could bring significant improvements to the rapidly developing DEX space.

Voorhees continued to glorify and praise what was announced by THORchain and said:

We saw the power of this technology and wanted to introduce it to our users right away.

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This is a continuation of our commitment to providing users with an easy and self-custodial platform for their decentralized business needs.

ShapeShift users, including those who transact via the new THORChain platform, can earn FOX with every transaction, allowing eligibility for other rewards on the platform.

The digital currency FOX rises and “RUNE” breaks a new record:

ShapeShift’s cryptocurrency FOX exploded after the news broke, and soared around 45% to reach an intraday high of $1.30.

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The digital currency “FOX” has gained 180% over the past month and reached an all-time high of $1.60 on April 6 and $2.1 on April 8.

On the other hand, the digital currency RUNE of the “THORchain” project rose, as it jumped 19% on the day to reach an all-time high of $ 15.40, and then retreated to the level of $15.31 at the time of writing this article, according to “coinmarketcap“.

The price of “RUNE” has doubled over the past two weeks, reaching 1150% since the beginning of the year 2021.

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