Is the New THORChain Bitcoin Update a Game Changer for RUNE?

THORChain’s latest Bitcoin update lowers the confirmation times from three to two, potentially boosting the RUNE cryptocurrency. This change might instigate a recovery following the sharp crash in January 2025.

The RUNEUSDT Crash

Since its impressive run in early November, RUNE saw a significant drop in value, falling to below $1 by early February after peaking at around $7.465 in December. The drastic sell-off led to an 85% loss from its peak, sparking concerns of a LUNA-like collapse among its holders.

RUNEUSDT Performance

Will This THORChain Bitcoin Confirmation Update Boost Prices?

THORChain has proposed a significant update to cut the Bitcoin confirmation requirement from three to two, meaning RUNE transactions would be processed roughly 33% faster. The developers claimed that this adjustment would also enhance the platform’s liquidity and reliability.

Will Validators Support the Proposal?

Safety is still a concern as the Bitcoin network generally requires more confirmations to ensure transaction security. Currently, support for the update is mixed among validators; at least 74 of the 110 must agree for it to pass. So far, 61 have voiced their support, anticipating a positive impact on user experience and price stability.

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