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Once again, rounds of insolvencies have entered the crypto space, with Thorchain being the most recent. The network has paused THORFI services, probably due to its financial uncertainty, which has circulated shock waves across the markets. The functions like swaps remain active while the lending operations are on hold.
On Jan. 24, THORChain announced via X that it had paused its network due to excessive debt and leverage issues impacting its ecosystem. The platform owes nearly $200 million in ecosystem debt.
RUNE Plunges 30% as THORChain Pauses Bitcoin, Ether Withdrawals
THORChain has paused THORFi services as it faces financial uncertainties with allegations of insolvency swirling around.
If I were a THORChain creditor, I'd withdraw my bitcoin collateral ASAP.
THORChain (RUNE), once a beacon of potential in the DeFi space, has seen its yearly gains evaporate, while newer entrants like Pepe Unchained (PEPU) and PIPPIN soar. Pepe Unchained and Pippin seem to be riding a trend reversal that has seen most memecoins register modest gains after days in the red.
THORChain's 2024 year-end report highlights major developments, including new integrations, liquidity changes, and strategic upgrades to enhance the network's efficiency and security.
ThorChain founder JP Thorbjornsen and the development team have decided to pause the ThorFi Savers and Lending programs for the next 12 months. The decision, announced Thursday, comes after consultations with key community members, devs and node operators, according to the project's Discord.
The blockchain ecosystem has given rise to a variety of tools and solutions. However, this expansion has been hindered by several technical limitations, with the lack of interoperability between chains being one of the most complex challenges.
Thorchain (RUNE) price has shown strong bullish momentum over the last 24 hours, after finding support at an intra-day low of $6.16. Bulls have reversed the negative sentiment, driving the price to a seven-day high of $7.08, marking a 12% increase in the past day and a 25% rise over the last 30 days.
THOR Chain's token, RUNE, has captured market attention with a swift 18% rebound following a sharp 33% drop. As volatility in the crypto market remains high, THOR Chain's price movement suggests renewed interest in RUNE, ignite discussions on whether the token can continue its recovery or if further consolidation is on the horizon.
It appeared more likely that RUNE would consolidate, allowing time for short liquidations to build up.
RUNE fell 15% but began recovery, with potential bottom at $4.50.
RUNE, the native token of the decentralized cross-chain liquidity protocol ThorChain, recently broke out of a falling wedge pattern after trading within it since its year-to-date high of $10.60 on March 13.
With this partnership, you can trade your assets without needing a centralized exchange. With THORChain, users can exchange assets across different blockchains right from their Ledger Live Desktop app.
TL;DR Ledger Integrates THORChain: Ledger has integrated THORChain into its Ledger Live app, enabling users to perform native swaps between Bitcoin and Ethereum directly within the app, enhancing security and user experience. Seamless Cross-Chain Swaps: This integration allows for seamless cross-chain swaps without relying on wrapped tokens or centralized exchanges.
The hardware wallet Ledger has just introduced native cross-chain swaps thanks to the latest integration of the THORChain network.
If you've ever wanted to trade something like BTC for ETH without jumping through hoops, now's your chance. Users can do it all directly from their Ledger device, keeping their assets safe.
Ledger will allow users to swap assets across chains in its app using the decentralized liquidity protocol THORChain.
The Securities and Exchange Commission (SEC) has intensified its scrutiny of digital assets, particularly affecting RUNE Coin. The agency shared two critical filings related to Thorchain, the platform behind RUNE Coin, which have caused a significant decline in its price.
Bitcoin (BTC) is currently heading higher. All eyes will be on the number one cryptocurrency as it paves the way for the crypto sector.
When/if Bitcoin ($BTC) makes its next upside move, some of the more fundamentally sound altcoins have the potential to outperform. Binance Coin ($BNB), Fantom ($FTM) and THORchain ($RUNE) are among them.
THORChain's Q3 2024 report highlights new integrations, a focus on risk management, and strategic shifts towards the App Layer, enhancing the ecosystem's resilience and innovation.
In a crucial move to enhance its decentralization efforts, liquidity protocol THORChain (RUNE) has revealed plans to bridge decentralized finance (DeFi) to the top cryptocurrency by market cap, Bitcoin. The development comes as THORChain cements its presence in the digital assets space. RUNE's total value locked (TVL) has grown steadily from $225.
