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Home»ALTCOIN NEWS»Thorchain pauses BTC and ETH withdrawal during restructuring. Rune prices decrease by 37%.
ALTCOIN NEWS

Thorchain pauses BTC and ETH withdrawal during restructuring. Rune prices decrease by 37%.

By Crypto FlexsJanuary 24, 20253 Mins Read
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Thorchain pauses BTC and ETH withdrawal during restructuring. Rune prices decrease by 37%.
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  • Thorchain cited bankruptcy risks and paused BTC and ETH withdrawal.
  • Rune’s price fell 37% in just seven days in restructuring and debt concern.

Thorchain, a cross chain swap protocol, paused withdrawal. Bitcoin (BTC) and Ether Leeum (ETH) Loan and savings service according to the Thorfi platform. This decision is raising concerns about the platform’s financial health and raising allegations of bankruptcy and debt within the encryption community.

This suspension is part of the 90 -day restructuring initiative. Currently, other services, such as transactions and swaps, will continue to operate during this period.

Loan and savings service temporarily suspended

The decision to stop Thorchain’s Thorfi service comes from concerns about the sustainability of the loan and savings program. Over time, these programs have been feared in bankruptcy by accumulating unmatched debt levels.

The validator node implemented a 90 -day freeze to alleviate the risk and protect the protocol from the “rush to the exit.” This measurement aims to solve financial uncertainty while maintaining its operating state.

HASEEB QURESHI, DRAGONFLY partner management, explanation Similar to the “bankruptcy freezing” that emphasizes the seriousness of liquidity.

Concerns are also about the potential lack of bitcoin reserves in the loan grass. As a result, large -scale repayment is increasing questions about the ability to fulfill Thorchain’s obligations.

Challenge to the role of Thorfi and Rene

The ongoing problem is that it goes back to the BTC loan issued when the price is much lower than the current level. As a result, to solve the debt, Thorchain further raised concerns about market stability using additional runes Token. Without active liquidation mechanisms, fear of potential large repayment is equipped. This can devalue the rune and weaken the financial foundation of Thorchain.

Synthetic assets, including BTC’s derivatives and ETHs supported by Rune-Cullesternized liquidized pool, are also faced with a survey. These assets rely heavily on the value of tokens, causing more risks when market fluctuations continue.

As expected, all of this responded a lot from many people in the community.

.@ethchain I go bankrupt

If a large debt repayment and/or saber and saber and the syndi -cycle diet leverage occur, you are convinced that the TC cannot meet the obligations of Bitcoin and ETH.

The validity test was decided to pause the network while voting for the restructuring plan.

🔽🧵

-TCB (@1984_IS_TODAY) January 24, 2025

Restructuring and future steps

But despite these challenges, Thorchain’s leadership is optimistic about recovery. Founder John-Paul Thorbjornsen I insisted,,,

“This protocol can earn a lot of money and provide a reconstructed debt.”

Community validers are trying to evaluate the proposal to improve Thorchain’s economic framework. On the other hand, the suspension of loan and savings service is to buy time to effectively implement these changes.

Rune price and market performance

runeThorchain’s Aboriginal token has seen a sharp drop in price in financial uncertainty. In fact, TRadding at price $ 2.40 In the press timeRunes have decreased 20.30% in the last 24 hours and 37.78% in the last week.

There are also encryption analysts famous Rune prices are close to 2022-2023 integrated zone.

This reduction has frustrated some investors, but other investors think it is a potential opportunity to accumulate tokens. If the restructuring effort is completed, you can expect a rebound.

Next: Trump’s administrative command analysis of cryptocurrency and it means to you

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