Valuation
$10.32M
2025
Funding
$920.00k
2023
Valuation
ThoreCoin (THR) reached a peak market capitalization of approximately $147 million in mid-2019, when the token traded at $1,700 with a reported circulating supply of 86,686 THR. As of early 2025, THR trades at $119 per token with a daily trading volume under $40,000, implying a current market capitalization between $10.3M and $11.9M.
The project's token ecosystem included ThoreCoin (THR), ThoreCash (TCH), and ThoreNext (THX), with THX having a maximum supply of 210 million tokens. No venture capital funding rounds or institutional investments have been publicly disclosed.
Product
ThoreCoin was founded in 2018 as part of the Thore Network ecosystem, which aimed to create an integrated cryptocurrency platform combining multiple digital assets and services.
The project initially found product-market fit as a speculative digital token targeting cryptocurrency enthusiasts seeking exposure to a purported "index-like" investment vehicle on the Ethereum blockchain. The core product was the ThoreCoin (THR) token, which claimed to provide access to a broader ecosystem including an AI-based educational platform and cryptocurrency exchange.
The Thore Network ecosystem expanded to include multiple tokens: ThoreCoin (THR) as the primary investment token, ThoreCash (TCH) for payments, and ThoreNext (THX) as a utility token. These were meant to work together within the ThoreExchange platform, where users could trade and interact with the various tokens.
Business Model
ThoreCoin operates as a speculative digital asset project within the broader Thore Network ecosystem, which included multiple tokens (THR, TCH, THX) and a proprietary exchange platform called ThoreExchange. The project positions itself as an investment token or "index" within the cryptocurrency space, though without clear utility or revenue-generating mechanisms.
The business model relies primarily on token sales and trading activity on ThoreExchange, where ThoreCoin (THR) was one of the main listed assets. The exchange claims to generate revenue through trading fees, though volume remains consistently low at under $50,000 daily.
The project attempts to create value through a multi-token ecosystem, with ThoreCash (TCH) meant for payments and ThoreNext (THX) serving as a platform utility token. This approach aims to capture different segments of the crypto market, from traders to payment users.
Competition
ThoreCoin operates in a market that included cryptocurrency exchanges, DeFi platforms, and security token offerings/
Traditional crypto exchanges
Major centralized exchanges like Coinbase, Kraken, and Binance dominate legitimate trading volume and user activity. These platforms offer regulated trading environments, deep liquidity, and comprehensive security measures.
Security token platforms
In the security token space, ThoreCoin faces competition from projects like Crypto20 (C20) and Invictus Hyperion. These competitors provided transparent operations, verifiable asset backing, and regulatory compliance. Unlike ThoreCoin, they have maintained clear documentation of their holdings and regular audits.
DeFi ecosystems
By 2019, emerging DeFi platforms like Maker and Compound offered decentralized financial services with open-source code and active development. These projects built genuine communities and provided verifiable on-chain activity.
Risks
Extreme concentration risk: Trading activity suggests a small number of entities control the majority of tokens and trading volume. The project's reliance on its own exchange and minimal external listings creates a closed system where price discovery is artificial. This concentration means any significant selling pressure could cause a complete collapse in token value.
Regulatory exposure: The project's positioning as an investment vehicle without proper registration or compliance creates legal liability. The anonymous team structure and lack of transparent operations increase the likelihood of regulatory enforcement action.
DISCLAIMERS
This report is for information purposes only and is not to be used or considered as an offer or the solicitation of an offer to sell or to buy or subscribe for securities or other financial instruments. Nothing in this report constitutes investment, legal, accounting or tax advice or a representation that any investment or strategy is suitable or appropriate to your individual circumstances or otherwise constitutes a personal trade recommendation to you.
This research report has been prepared solely by Sacra and should not be considered a product of any person or entity that makes such report available, if any.
Information and opinions presented in the sections of the report were obtained or derived from sources Sacra believes are reliable, but Sacra makes no representation as to their accuracy or completeness. Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance. Information, opinions and estimates contained in this report reflect a determination at its original date of publication by Sacra and are subject to change without notice.
Sacra accepts no liability for loss arising from the use of the material presented in this report, except that this exclusion of liability does not apply to the extent that liability arises under specific statutes or regulations applicable to Sacra. Sacra may have issued, and may in the future issue, other reports that are inconsistent with, and reach different conclusions from, the information presented in this report. Those reports reflect different assumptions, views and analytical methods of the analysts who prepared them and Sacra is under no obligation to ensure that such other reports are brought to the attention of any recipient of this report.
All rights reserved. All material presented in this report, unless specifically indicated otherwise is under copyright to Sacra. Sacra reserves any and all intellectual property rights in the report. All trademarks, service marks and logos used in this report are trademarks or service marks or registered trademarks or service marks of Sacra. Any modification, copying, displaying, distributing, transmitting, publishing, licensing, creating derivative works from, or selling any report is strictly prohibited. None of the material, nor its content, nor any copy of it, may be altered in any way, transmitted to, copied or distributed to any other party, without the prior express written permission of Sacra. Any unauthorized duplication, redistribution or disclosure of this report will result in prosecution.