Thorchain
THORChain network resumes following 20-hour chain halt
Cross-chain exchange and proof-of-bond network THORChain announced it was once again “fully operational” after an outage of more than 20 hours In an Oct. 28 tweet, the THORChain team said the network was “back online and producing blocks” and had reenabled trading. The network was halted on Oct. 27 after the team said a bug had caused “non-determinism between individual nodes.” “Turns out to be string manipulation: code was pushing a cosmos.Uint (instead of a uint64) into a string, which causes the string to get the point of the big int instead of the actual value, causing the memo string to be different on different nodes,” said the THORChain team following the chain halt. “Didn’t see this in stagenet because the bad memo never gets written to disk/block, because it gets swapped immediate...
RUNE Pumps 18% as THORChain deactivates non-native tokens
Cross-chain exchange and proof-of-bond network THORChain has finally activated the killswitch that will progressively wind down support of the BEP-2 and ERC-20-based variants of the RUNE token. BNB.RUNE, and ETH.RUNE, also known as IOU Tokens, are being swapped out for the upgraded and completely native RUNE token after THORChain’s long-awaited mainnet late last month. Moving forward, these tokens will progressively lose their value over the next 12 months as the project aims to foster adoption of its fully unified variant of RUNE, enabling stronger asset interoperability. Users who hold their IOU Tokens on centralized changes will have their tokens automatically upgraded to the new native RUNE. Those who keep their tokens in private wallets must create a new wallet supported by THOR...
THORChain token price up 16% following mainnet launch
The price of THORChain’s token RUNE is up 16% since the project announced the official launch of its mainnet on June 22. The team announced the mainnet launch on Wednesday, alongside the rollout of a “Rune in a Million Campaign” on Binance that contains a total of $1 million worth of RUNE rewards for users of the exchange. The announcement has been followed by a 16% bump for RUNE to $2.18 at the time of writing, and the price is up 31.6% over the past seven days. The surge has provided some much-needed relief for RUNE, though the price is still down 31% from $3.21 at the start of June. THORChain is a cross-chain exchange and proof-of-bond network that enables users to swap assets by liquidity pools across various networks such as Binance Smart Chain, Ethereum, Dogecoin and Bitcoin. The exc...
Top 5 cryptocurrencies to watch this week: BTC, VET, THETA, RUNE, AAVE
Bitcoin (BTC) is attempting to hold above its closest support level, and traders are watching to see if the price can remain strong and close above the 2022 yearly open price at $46,200 for the second week in a row. April has historically been the best performing month of the year for the S&P 500, according to Sam Stovall, chief investment strategist at CFRA. If history repeats itself and the close correlation between the United States equity markets and Bitcoin continues, it could bode well for the crypto markets in the near term. Crypto market data daily view. Source: Coin360 Another sentiment booster could be that the 19th million Bitcoin entered circulation on April 1. For the remaining 2 million BTC, the crypto markets will have to wait for a long time because the last Bitcoin is ...
THORChain quietly outperforms crypto market in Q1 — Can RUNE price break $10 next?
THORChain (RUNE) could continue its upward momentum in the coming weeks even as it treads inside a classic bearish reversal structure. RUNE’s price has rebounded strongly by over 165% four weeks after testing its multi-month horizontal level support near $3.15. What’s more, its upside retracement has opened up possibilities about an extended bull run toward $11.50, about 45% above the current price level near $7.89, as shown in the chart below. RUNE/USD weekly price chart featuring descending triangle setup. Source: TradingView The $11.50-level coincides with RUNE’s multi-month falling trendline resistance, forming a descending triangle, a bearish setup, in conjunction with the lower horizontal support. That could have RUNE’s price correct again to $3.15 after reach...
THORChain spikes by 34% after activating synthetic assets
The price of the native asset for cross-chain decentralized exchange THORChain (RUNE) has spiked by 34% in a day following the activating of synthetic assets on the network. At the time of writing the price had settled back to a 21% gain over the past 24 hours to sit at $5.27.. Crypto synthetics or synths are derivative tokens of other digital assets that are pegged to the value of the underlying collateralized asset such as Bitcoin (BTC) or Ether (ETH). In THORChain’s variation, the project has opted to back its synths with 50% of the underlying asset and 50% in RUNE. The activation went live earlier today and synthetics such as sBTC and sETH are now able to be traded on the network. THORSwap Finance highlighted the advantages of the synthetic assets via a March 10 blog post, noting that ...
Bitcoin’s sub-$40K range trading and mixed data reflect traders’ uncertainty
The phrase “hindsight is 20/20” is a perfect expression for financial markets because every price chart pattern and analysis is obvious after the movement has occurred. For example, traders playing the Feb. 28 pump that took Bitcoin (BTC) above $43,000 should have known that the price would face some resistance. Considering that the market had previously rejected at $44,500 on multiple instances, calling for a retest below $40,000 made perfect sense, right? Bitcoin/USD at Coinbase. Source: TradingView This is a common fallacy, known as “post hoc” in which one event is said to be the cause of a later event merely because it had occurred earlier. The truth is, one will always find analysts and pundits calling for continuation and rejection after a significant price move. Usually ...
