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[SITUATION] · [QUIET] · [BUSINESS]
2 clusters · 4 sources · 4 days · First seen · Last updated
THORChain network upgrade and privacy asset integration
Overview
The implementation of the THORChain v3.20 network upgrade initially triggered a significant market response. Following the upgrade on August 26, the THORChain (RUNE) token surged by over 26%, accompanied by a three-fold increase in trading volume to more than $20 million. The upgrade was designed to allow direct swaps between privacy-focused assets, such as Monero (XMR) and Zcash (ZEC), and major cryptocurrencies like Bitcoin and Ethereum.
However, the full functional deployment of these swap routes faced delays. While the infrastructure for Monero’s FROST threshold scheme was included in the update, THORChain postponed the actual activation of Monero and Zcash support by one to two weeks starting August 27 to prioritize network stability. This delay contributed to price volatility for Monero, which saw a monthly gain of over 45% but faced resistance as the specific trading routes remained inactive.
Entities
Timeline
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12 days ago
[BUSINESS] 3 sourcesMonero price fluctuates amid delayed THORChain trading activationMonero saw a 45% monthly rally driven by anticipation of a THORChain upgrade, though the actual trading route activation has been delayed due to network stability concerns.
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16 days ago
[TECHNOLOGY] 2 sourcesTHORChain RUNE surges 26% following privacy-focused network upgradeTHORChain's RUNE token surged 26% following the v3.20 upgrade, which enables swaps between privacy coins like Monero and Zcash and major assets like Bitcoin and Ethereum.
Sources
ambcrypto.com · bitcoinethereumnews.com · ethnews.com · tronweekly.com