THORChain Rebounds With Massive Q3 Volume Surging Across Protocol Liquidity Pools

TL;DR THORChain processed $3.82 billion in trading volume during the third quarter of 2026 and collected $5.77 million in fees, nearly double the previous quarter’s figures. Protocol liquidity increased from $54.58 million to $89.82 million. September alone recorded $2.41 billion in trading volume, including funds linked to the Bitget hack. The V3.20 upgrade restored validator churn and introduced Protocol-Owned Liquidity, which now receives 20% of system income. THORChain processed $3.82 billion in trading volume during the third quarter of 2026 , according to its quarterly report . The protocol also generated $5.77 million in fees , nearly double the previous quarter’s total, during its first full quarter of operations following the June 22 restart.

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