MEXCWill RUNE’s September Hard Fork Propel THORChain Price to ATH?
Highlights
- THORChain price increases by 5% in 24 hours, indicating positive momentum.
- The upcoming RUNE upgrade on September 4 could boost the price significantly.
- Technical indicators suggest strong rebounds as market conditions improve.
THORChain price (RUNE) has experienced a noticeable uptick in its value as the broader cryptocurrency market begins to rebound. The price of RUNE is indicating a robust recovery, hinting at positive market dynamics. As digital currencies overall appear to be rebounding, the sector anticipates further growth, particularly with an impending hard fork upgrade.
THORChain Price Surge Anticipated Post-Upgrade
THORChain price is slated for a substantial hard fork on September 4, 2024, at 4 pm UTC. This event, expected at block 17561740, will introduce significant enhancements. It will update the Cosmos SDK from version 45.1 to 45.16, excise outdated legacy code, and remove superfluous Cosmos modules. These changes aim to trim the node state, enabling quicker synchronization processes, now over 1 terabyte.
September-2024 Hard Fork Preparation
THORChain’s blockchain will undergo an upgrade on 4 September 2024 at 4pm UTC, estimated at block 17561740
No action is required by any user
Exchanges, wallets, and dApps must prepare to ensure a seamless transition for your users
— THORChain (@THORChain) August 20, 2024
No user intervention is required for this upgrade. However, exchanges, wallets, and decentralized applications need to prepare meticulously to ensure their users experience no disruptions. This preparation will aid in maintaining the stability and efficiency of services connected to the THORChain network.
RUNE Price Surges 6%, Eyes More Gains Ahead
Over the past 24 hours, the THORChain price has seen a notable increase. At the time of writing, the RUNE price hovered at $4.14, making a strong surge of 6.16%, indicating a robust upward trend in the market.
The top altcoin opened the day at $3.81 and reached a high of $4.13 before settling at the current price. This recent movement underscores growing investor confidence in THORChain’s market position and potential for future gains.
According to Coinglass, the trading metrics for RUNE have seen significant changes. The trading volume has decreased by 15.24%, now standing at $84.75 million. In contrast, the open interest has increased notably, rising by 13.02% to reach $52.12 million. These metrics suggest a mixed sentiment among traders, with a decline in trading activity alongside a growing interest in holding positions in the market.
If the price of THORChain overcomes the $5 mark due to strong bullish trends, this could herald a revival. Such an advancement may propel its price toward the previously reached $7.27 peak. Surpassing this milestone might set the stage for approaching the three-year-old record high of $21.26 after the hard fork upgrade.
Frequently Asked Questions (FAQs)
1. What is the THORChain hard fork?
2. Is user action required for the hard fork?
3. How could the hard fork affect RUNE's price?
- Ripple Swell Conference 2025: How to Watch, Date, and Expected Impact on XRP
- Crypto Market Crash as $595.8M in Longs is Liquidated, Bitcoin Slides to $105,000
- Saylor’s Strategy Buys 397 BTC as Trump Blames Democrats for Prolonged U.S. Shutdown
- Bitget Erects 10-Meter Interactive LED Tower, Launches Exclusive Crypto Prize Pool At UNTOLD Dubai
- Balancer Hack: $129M in Crypto Assets Stolen, Berachain Validators Halt Chain for Hard Fork
- Solana Price Eyes Rebound as Institutional Demand Tops $3.2B YTD
- Will Hyperliquid Price Hit $50 After OKX Listing?
- Top 3 Developments That Could Impact Bitcoin Price This Week
- Chainlink Price Eyes $30 Rebound as FTSE Russell Collaboration and Supply Squeeze Fuel Optimism
- Ethereum Price As Stablecoin Volume Hits ATH of $2.82T Despite Struggling Crypto Market- Is a Recovery In Sight?
- XRP Price Forecast: Spot ETF Approval Could Propel Token to $3.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
