In a significant milestone, THORChain, the decentralized liquidity protocol, has surpassed $10 billion in total monthly trading volume. This marks a historic achievement for the platform. However, amidst this success, there's a growing debate among Bitcoin maximalists regarding the safety of the protocol for potential borrowers.
THORChain announced this milestone through its official social media account on March 27. According to Runscan data, the protocol has recorded a staggering $10.26 billion in trading volume for the current month alone.
Following the announcement, a heated debate erupted among Bitcoin maximalists regarding THORChain's security. Some express reservations about the safety of borrowing on the platform, particularly for Bitcoin holders seeking interest-free loans against their BTC.
Mathematician and Bitcoin investor Fred Krueger voiced confidence in THORChain, declaring it "real" and endorsing BTC-backed loans on the platform as a safe option for Bitcoin holders. However, Bitcoin analyst Dylan Le Clair challenged this view, arguing that such loans pose risks due to their dependence on altcoin exchange rates.
THORChain operates as a decentralized liquidity protocol facilitating asset swaps across blockchains. It provides interest-free loans against major cryptocurrencies like Bitcoin and Ether, with no enforced liquidations or fixed expiry dates.
Recent upgrades to THORChain, including reduced collateral requirements for Bitcoin and Ether, have attracted attention. However, analysts like Chris Blec have raised concerns. They highlight the inherent risks of lending to a protocol that faced security issues in the past and the reliance on centralized providers for loan terms.
THORChain's history includes two mainnet halts in 2023 due to reported security vulnerabilities. These incidents underscore concerns about the protocol's long-term stability and security.
The sale of an "epic sat" during Bitcoin's fourth halving event for $2.13 million marks the growing value of unique digital assets in the cryptocurrency ecosystem. With Bitcoin's inflation rate now lower than gold's, it solidifies its status as a rare and coveted store of value in the digital realm.
JoyHong Kong is launching Asia's first spot Bitcoin and Ether ETFs, potentially establishing itself as a crypto hub in the region, though mainland Chinese investors are currently restricted. The move could trigger a ripple effect across Asia, encouraging other regulators to explore similar initiatives, potentially reshaping the regional crypto investment landscape.
WeatherlyThe recent Bitcoin halving has sparked optimism among analysts, with predictions suggesting prices could reach as high as $4.5 million per coin, driven by limited supply and growing institutional interest. Bitcoin's potential as a sustainable mega-asset, supported by institutional investment and a narrative shift towards environmental friendliness, signifies a bold new era for the cryptocurrency.
WeatherlyThe 2024 Bitcoin halving, marked by the emergence of spot Bitcoin ETFs and a dwindling tradable supply, presents a departure from past events. These novel factors, alongside uncertainty in the Federal Reserve's policy, introduce intriguing dynamics that could reshape Bitcoin's trajectory.
JoyThe upcoming Bitcoin halving in 2024 will cut miner rewards in half, sparking a race for rare "epic sats" and pushing miners to optimize operations for higher efficiency and income diversification.
AnaisHong Kong's approval of bitcoin and ether ETFs signals its growing role in cryptocurrency innovation, contrasting with China's stricter stance. While this move promises investment opportunities and financial growth, it also poses risks due to cryptocurrency volatility and regulatory uncertainties.
AnaisBitcoin's upcoming halving will slash miner rewards, potentially causing a $10 billion annual revenue drop. Miners face increasing competition for power and must innovate to survive.
WeatherlyBinance NFT platform will cease Bitcoin NFT trading and deposits starting April 18th, 2024, at 14:00 GMT. Additionally, related airdrops and benefits will be terminated from April 10th, 2024. Users are urged to withdraw their NFTs before the specified dates to avoid potential losses.
Cheng YuanWhile Genesis' Bitcoin investment strategy offers potential upside, the company faces substantial hurdles in its journey towards financial rehabilitation.
SanyaSouth Korean political parties vie for voters' favor by promising access to US Spot Bitcoin ETFs. However, forthcoming regulations on digital assets pose potential challenges.
BerniceThis article will take Zetachain as an example to explain how Omminchain writes cross-chain rules into smart contracts to achieve decentralization of cross-chain interoperability.
JinseFinanceCardano (ADA) and THORChain (RUNE) perform well, but Milei Moneda ($MEDA) presale attracts whale investors for potential gains. Priced at $0.010, $MEDA offers 100% gains upon Uniswap launch in May, with projected altcoin price of $0.020. With accessible features and user-friendly approach, $MEDA emerges as a promising contender.
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OliveElliptic's findings reveal a hacker's exploitation of THORSwap on FTX, converting Ethereum to Bitcoin. THORSwap resumed after addressing suspicious activity, introducing new terms, causing controversy over decentralization. ShapeShift's Erik Voorhees distinguishes THORChain as decentralized but THORSwap as centralized in decision-making. THORSwap now collaborates with an "industry leader" to prevent illicit fund flows. Their return coincides with Elliptic's report on the hacker's $120 million Ether-to-Bitcoin conversion.
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