THORChain is in a debt repayment crisis. The verification nodes have suspended network operations and are voting on the reorganization plan.
On January 24th, according to X user TCB, THORChain is currently in a state of insolvency. Data shows that THORChain's current liabilities include $97 million in borrowing (ETH and BTC) and approximately $102 million in savings and synthetic assets, with only $107 million in external liquidity available. TCB stated that THORChain's borrowing obligations are fulfilled by minting and selling RUNE tokens, which has led to high reflexivity and further exacerbation of the problem. After repaying $4 million in RUNE debt yesterday, the protocol owes several million more RUNE. Validation nodes have temporarily suspended network operations and are voting on restructuring proposals.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Best Crypto Presale to Buy: Nexchain Leads, Unstaked & BTC Bull Follow
Nexchain leads 2025’s top crypto presale with AI Layer‑1, daily gas‑fee rewards, audited security & 429% ROI. BlockDAG & Solaxy trail in yieldNexchain – The AI Layer‑1 with Real YieldBlockDAG – Parallel Processing with Big CapitalSolaxy – Carbon‑Neutral Layer‑0 for Climate Use CasesConclusion
Bitcoin below $100K now ‘less likely’ as BTC price eyes liquidity at $106K
XRP price consolidates for 200 days: Analysts predict where it’s going next
Tron to Go Public in US, Merge With SRM Entertainment – Eric Trump, Expected to Join
Trending news
MoreCrypto prices
More
