A widely followed crypto trader says that Binance Coin (BNB) is dangerously close to losing key support amid a bearish digital assets market. Pseudonymous trader Altcoin Sherpa tells his 196,300 followers on the social media platform X that BNB could dip below the $200 level as the altcoin trades well below its 200-day simple moving […]
The post Crypto Trader Calls One Blue-Chip Altcoin’s Price Action ‘Scary’, Updates Outlook on Bitcoin and THORChain appeared first on The Daily Hodl.
A crypto trader is updating his outlook on one altcoin that is soaring this month as the broader digital assets market dips. Pseudonymous trader Altcoin Sherpa tells his 196,300 X followers that the decentralized cross-chain liquidity protocol THORChain (RUNE) has more room to run after a bounce off of a key Fibonacci retracement level. “RUNE: […]
The post Trader Updates Outlook on Crypto Asset That’s Up Over 60% This Month, Says One Altcoin’s Uptrend Is Still Strong appeared first on The Daily Hodl.
A widely followed crypto analyst is identifying five altcoin projects that he believes have the potential for massive growth. In a new video update, Coin Bureau host Guy Turner says he is bullish on the lending and borrowing decentralized finance (DeFi) protocol Aave (AAVE). “The fact that Aave has been around for a while now […]
The post Coin Bureau Names Aave, THORChain and Three Additional Crypto Assets on Its Altcoin Watch List appeared first on The Daily Hodl.
A top crypto trader says he thinks three under-the-radar altcoins including decentralized exchange ThorChain (RUNE) are gearing up for strong surges. Starting with decentralized storage network Filecoin (FIL), the crypto analyst believes that there’s no resistance for the altcoin until it hits $5.80. “I think FIL is going to pull the same move COMP did. […]
The post Three Altcoins Are Flying Under the Radar and Primed To Absolutely Rip, Says Popular Trader appeared first on The Daily Hodl.
A popular crypto analyst known for his timely altcoin calls is making multiple bullish predictions for a slew of digital assets. The pseudonymous trader known as Kaleo tells his 538,000 Twitter followers that Cosmos (ATOM), which aims to be an ecosystem of interoperable blockchains, will be one of the more explosive altcoins on the market […]
The post Analyst Says One Altcoin Set for Explosive Breakout, Predicts Rallies for Dogecoin, Solana and Two Additional Crypto Assets appeared first on The Daily Hodl.
A top-100 decentralized finance (DeFi) crypto project is recovering after enduring a 20-hour network outage due to a technical error this week. THORChain (RUNE), a decentralized cross-chain liquidity protocol, announced on Thursday afternoon that its chain had halted. On Friday morning, the project said the network was operational again after a 20.5-hour outage. THORChain developers […]
The post Top 100 DeFi Crypto Project Suffers 20-Hour Network Outage Due to Technical Issue appeared first on The Daily Hodl.
The team stated that the next steps were to find the source of the non-determinism, release an update, and restart the state machine, but there have been no updates since.
Cross-chain exchange and proof-of-bond network THORChain was halted earlier today as the result of a bug causing “non-determinism between individual nodes."
At around 8 pm UTC, the THORChain team initially tweeted that developers were aware of a chain outage and were working to find the root cause of the issue.
Roughly four hours later, the team posted a further update noting that “consensus halts in a distributed state machine are from sources of non-determinism between individual nodes and prevent the ledger from becoming corrupted.”
It stated that the next steps were to find the source of the non-determinism, release an update, and restart the state machine, and while noting that step one was close, there have been no updates since, suggesting the developers are dealing with a fair bit of a headache.
Consensus halts in a distributed state machine are from sources of non-determinism between individual nodes and prevent the ledger from becoming corrupted.
— THORChain (@THORChain) October 27, 2022
Next steps:
1) Find source of non-determinism
2) Release update
3) Restart state machine
(1) is close https://t.co/sS4EMbYcOQ
According to THORChain explorer, the network still appears to be halted at the time of writing. However, token swapping platform THORSwap provided an update of its own, noting that its platform is still operating.
“Update on the current halt of THORChain Swaps/LP. Funds are safe. Ethereum and ERC-20 swaps are fully functioning on ThorSwap via DEX Aggregator. Hang tight, THORChain devs are on the case!” it wrote.
THORChain infrastructure developers Nine Realms were unfazed by the incident, as it suggested that ironing out bugs is just part of the process of improving the THORChain network.
“Each halt is investigated immediately by a security team and core devs—resulting in protocol improvements. As the network matures: halt early, halt often,” it stated.
Cointelegraph has reached out to THORChain for comment and will update the story if a response is received.
Related: Network outages have been Solana’s ‘curse,’ says co-founder
THORChain isn’t the only one to suffer network issues this week, as Meta-owned messaging platform WhatsApp went offline to its 2 billion users for around 2 hours on Oct. 25. Whatsapp attributed the problem to a technical error, but didn’t go into any further detail.
THORChain’s native token RUNE is down 1.4% over the past 24 hours to sit at $1.53, but is still up 6.5% in the past seven days. Zooming out, the asset is down a hefty 92.7% since it's all time high of $20.87 on May 19 2021, according to CoinGecko.
The BEP-2 and ERC-20-based variants are being swapped out for the upgraded native RUNE token after THORChain's long-awaited mainnet late last month.
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 THORChain and then click an upgrade button to make the switch.
The THORChain team stated via Twitter on July 18 that killswitch will go live at block 6500000 and that 1:1 exchange rates will “linearly tick down to 1:0 over the next 12 months” as the IOU Tokens become worthless.
Today, the BEP-2 and ERC-20 $RUNE killswitch will be activated at block 6500000. Upgrades will no longer be 1:1. Exchange rates will linearly tick down to 1:0 over the next 12 months.
— THORChain (@THORChain) July 18, 2022
If you hold $RUNE in a self-custody wallet, ensure your wallet address begins with `thor1...`
The team previously stated in a blog post earlier this year that this move was part of a push towards further decentralization of its network, as it highlighted issues with having IOU RUNE spread across two separate networks:
“THORChain is extremely strict in having no 3rd party dependencies, preferring to manage everything in-house. There are no oracles, no off-shored security, and no reliance on external liquidity.”
“However, BNB.RUNE and ETH.RUNE has privileged access to the state machine’s “mint” function. Anyone presenting these tokens can mint fresh RUNE, as well as making THORChain’s state dependent on these two networks,” the blog post read.
The move from THORChain has coincided with a significant 18.6% bounce of RUNE prices to $2.61 over the past 24 hours. Measuring over a broader time frame also shows promising signs, with RUNE gaining 65.9% over the past 30 days, according to data from CoinGecko. However RUNE is still down 87.5% since its all-time high of $20.87 from May 19 last year.
Related: Total crypto market cap reclaims $1 trillion as Bitcoin, Ethereum and altcoins breakout
Apart from enabling users to swap assets by liquidity pools across various networks such as Binance Smart Chain, Ethereum, Dogecoin, and Bitcoin, THORChain also supports the trading of synthetic assets, which are tokenized derivatives that mimic the value of other assets such as stocks and commodities.
Under the recently launched mainnet, the project aims to provide enhanced security measures and network stability, greater decentralization, a new governance process, establish new chain integrations, wallet integrations, aggregator implementations, and roll out a single-sided yield feature.
Popular crypto strategist Michaël van de Poppe says he expects surges for a handful of altcoins. Van de Poppe tells his 616,600 Twitter followers that BNB, the coin powering Binance and the smart contract platform BNB Chain, is flashing strength after breaching resistance at $240. “Held the area around $216 again. Expecting that, once it […]
The post Top Crypto Analyst Michaël van de Poppe Predicts Strong Rallies for Polygon, THORChain and Two Ethereum Rivals appeared first on The Daily Hodl.
A popular crypto analyst is highlighting a handful of crypto projects as one niche defies the overall market downtrend. In a YouTube update, pseudonymous Coin Bureau host Guy tells his 2.08 million subscribers that decentralized finance (DeFi) is making an impressive comeback. “Starting with Convex Finance, CVX seems to be rallying because of developments on […]
The post Coin Bureau Says DeFi Making Comeback As Uniswap, Aave, THORChain and Two Additional Altcoins Overperform appeared first on The Daily Hodl.
