THORChain Token RUNE Up 70% Following Update Enabling ETH Trading

By José Oramas October 26, 2021 In DeFi, Ethereum, Tokens

RUNE, THORChain’s native token, has been thriving in the DeFi market, up 70 percent following a network update that enabled Ether (ETH) trading.

As per a blog post from RUNEBase, THORChain has updated its network nodes and now allows ETH and ERC20 token trading. The update comes a few months after THORChain fell victim to several exploits, the most recent being an attack on the ETH router, which halted ETH trading and withdrawals.

The update has significantly boosted RUNE’s price, now trading at US$13.10 and with a 24-hour trading volume up to 85.91 percent as per data from Binance.

The price is the highest maximum reached by the token, surpassing last week’s maximum of $11.28 early on October 25.


Difficult Year For THORChain

THORChain suffered heavy losses after being attacked three times in Q2 2021, losses that amounted to around US$100 million.

Since then the protocol has been working behind closed curtains, developing new safety measures to avoid further attacks. Last week, THORChain announced the released of “two new critical features for node operators”.

The first feature, Make Pause, will allow node operators to pause the network for a period of one hour in the event of an attack. Trading and outbunds are halted, trapping attack transactions.

The second feature, called Make Relay, is a verified anonymous broadcasting service for nodes, broadcasting signed and verified messages into public channels.

José Oramas

José Oramas

José is a journalist and translator with a keen interest in blockchain and cryptocurrencies.

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