The DeFi saga of RUNE, LDO, SNX leave investors in awe

ambcrypto.com:

THORChain [RUNE], Lido Finance [LDO], and Synthetix [SNX] were the top performers on 3 August as the DeFi ecosystem steered the crypto market back to greens. 

While others also recovered, the revival of these DeFi tokens was superior. On 3 August, RUNE was 11.51% up. LDO posted 13.46% gains while SNX registered an unprecedented 13.14% hike as per CoinMarketCap.

Even though all the top cryptocurrencies had not overcome the red levels, the DeFi protocols had already taken charge with a wide gap. So the question is- has any major event put DeFi on the front pedal?

For RUNE, protecting user funds seems to be the priority since removing its IOU tokens across the Binance Smart Chain and Ethereum chain.

According to its latest update, RUNE was working towards developing nodes that could halt transactions on the network if they detected any suspicious activity.

Each node can pause the network for 1hr if they spot anything suspicious. Any other node can unpause.

Nodes have the most at stake and globally monitor the network 24/7.

This feature protects user funds. Onwards. $RUNE pic.twitter.com/otqLWk73DS

— THORChain (@THORChain) August 2, 2022

As expected, this increased the development activity on the THORChain network. As per Santiment data, RUNE’s development activity increased from 0.15 on 1 August to 0.23 at the time of this writing.

Additionally, the trading volume has increased over the last 24 hours of press time, with a 69.51% increase to $171.44 million. If this continues, RUNE could follow another bullish run.

Source: Santiment

It looks like a similar case with LDO as there has been increased development activity.

Well, before the Solana