Why is it gaining traction?

Amid a weak cryptocurrency market, Thor (THOR) crypto gained momentum on Thursday morning and rose around 10 per cent over the previous day. At the time of writing, Thor crypto was trading at US$ 6.19 per token, as per CoinMarketCap.

Due to increased volatility in the market, the prices of virtual currencies keep fluctuating, affecting the global market cap.

Also Read: What is Bella Protocol (BEL) and why did it zoom over 50%?

On June 9, the valuation of the crypto market had decreased by 0.4 per cent in the last 24 hours to US$ 1.24 trillion. Meanwhile, the price of Bitcoin and Ethereum went down by 0.6 per cent and 0.14 per cent.

As Thor’s cryptocurrency price is gaining investors’ attention, let’s explore more about the crypto project:

What is Thor (THOR) crypto?

The THOR token is the native utility and reward token of Thor Financial. As per the official website, the project claims to invest in Decentralized Finance (DeFi) projects and several digital assets.

Thor Financial claims that it ensures compliance with the community project policy by asking the community to vote before beginning the investment protocol.

The vision behind the crypto project is to assist people in generating passive income without making many efforts. Thor Financial claims that users can buy the Thor crypto to create nodes and earn daily rewards.

To address the issue of market volatility, the project claims that it monitors the bull and bear market trends to profit from any market situation. Thor Financial has created a system to secure passive revenue for users and has very little downtime as per the project website.

The Thor crypto is believed to have a high-yield potential as it can allocate rewards and yield holders by integrating returns from DeFi projects with protocol-owned liquidity across multiple chains.

Bottom line

Despite all the promises made by the Thor Financial project, crypto enthusiasts and investors must exercise caution as it is a new project and Thor crypto’s market cap is unknown.

Also, despite the Thor crypto price surge, the volume of the virtual currency was down by around two per cent to just US$ 477,700. The maximum supply of the cryptocurrency is around 20.5 million, and information on its circulating supply was not available at the time of writing.

There was no apparent reason behind the price surge and interested investors must research before buying Thor crypto. 

Also Read: GALA and AXS: 2 metaverse tokens to watch amid market crash

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