Binance Backs THORChain RUNE Network Upgrade Scheduled for May 22
- Binance supports THORChain’s RUNE network upgrade on May 22.
- Brief pause in deposits and withdrawals.
- Anticipated minimal disruption to trading activities.
Binance, the leading cryptocurrency exchange, will support the THORChain RUNE network upgrade on May 22, 2025. Deposits and withdrawals will be briefly paused during the transition.
Binance’s support for the THORChain network upgrade underscores its commitment to enhancing cryptocurrency infrastructure. This upgrade temporarily halts RUNE deposits and withdrawals, ensuring trading processes remain uninterrupted.
Coordination and Impact
The network upgrade involves significant coordination between Binance and the THORChain team. Binance CEO Richard Teng oversees the process, with THORChain’s decentralized community playing a key role. The upgrade focuses on ensuring a seamless user experience.
Temporary Pause and Market Resilience
Immediate effects include a temporary pause on RUNE deposits and withdrawals via Binance, with trading activities remaining unaffected. The market anticipates minimal disruption based on historical precedents.
The upgrade does not involve new funding or direct impacts on other assets like ETH or BTC. Binance assures users of a swift resumption of services post-upgrade once stability is confirmed.
Starting at approximately 2025-05-22 16:00 (UTC), Binance will suspend the deposits and withdrawals of token(s) on the THORChain (RUNE) network to support its network upgrade to ensure the best user experience. The network upgrade will take place at the block height of 21,210,000, or approximately at 2025-05-22 17:00 (UTC)… Binance will handle all technical requirements involved for all users. Deposits and withdrawals for token(s) on the aforementioned network will be reopened once the upgraded network is deemed to be stable. Binance Announcement
Expectations and Financial Outlook
Previous upgrades indicate brief liquidity rebalancing. No major financial or regulatory changes are expected. The decentralized governance model ensures community input in the decision-making process.
Financial outcomes hinge on RUNE’s performance and adoption post-upgrade. Historical data supports the expectation of steady network function. The THORChain upgrade reflects broader trends towards decentralized finance adaptability.
