Thorchain, the decentralized liquidity protocol, witnesses a remarkable surge in lending activities, with weekly flows surpassing $100 million. Traders flock to avail themselves of zero-interest loans on Thorchain following the removal of collateral limits.
On March 8, Thorchain announced a significant upgrade, burning 60 million RUNE tokens, unlocking an additional $160 million worth of collateral capacity for BTC and ETH. This move led to a notable increase in deposited assets, with ETH and BTC collateral now totaling $120 million, compared to $36 million pre-upgrade.
Investors demonstrate increasing interest, with deposits soaring to 1,005 BTC and 15,279 ETH, marking a substantial rise from previous levels. Daily loan openings also witness a surge, peaking at triple digits in recent days, signifying growing demand for Thorchain's offerings.
Thorchain's appeal lies in its provision of interest-free loans against major cryptocurrencies like Bitcoin and Ether, without fixed expiration dates or liquidations. A recent reduction in collateralization ratios further enhances its attractiveness, allowing users to borrow up to half the value of their assets.
Notable crypto investor Fred Krueger publicly explores Thorchain's offerings, leveraging BTC loans to acquire more Bitcoin. Despite some criticism from Bitcoin maximalists, Krueger expresses satisfaction with his initial experience on the platform.
While Thorchain offers transparency and 200% collateralization requirements, potential vulnerabilities remain, particularly regarding RUNE minting and recent code vulnerabilities. However, the allure of zero-interest loans appears to outweigh these concerns, driving continued interest in Thorchain's services.
Before participating in DeFi projects or trading, users should understand and assess these risks and take appropriate precautions, such as conducting thorough project reviews, managing risk exposure, and maintaining investment diversification.
Donald Trump's administration plans to create a national Bitcoin reserve, boosting Bitcoin's role in the global economy. State-level and institutional support is growing, with 10 US states preparing their own Bitcoin reserve plans.
WeatherlyRobert Kiyosaki predicts Bitcoin could drop to $60,000 but remains confident in its long-term potential, planning to buy more if the price falls. He forecasts Bitcoin could reach $250,000 by 2025 and even $500,000, according to an AI model.
AnaisVancouver is exploring using Bitcoin in its financial reserves to protect against economic instability and inflation. The city aims to position itself as a hub for digital asset businesses and attract tech talent.
WeatherlyBrazil is considering a law to create a Bitcoin reserve, RESBit, as part of its economic strategy to strengthen stability and support its digital currency, Drex. Inspired by El Salvador's Bitcoin use, the reserve would diversify assets and be managed with blockchain for transparency.
WeatherlyAlan Joseph, a 36-year-old from Lancaster, Massachusetts, was convicted on 22 November 2024 for operating an unlicensed money transmitting business and laundering money through Bitcoin for criminals involved in trafficking counterfeit goods. He faces up to 20 years in prison and a fine, with sentencing set for February 2025.
AnaisRumble is investing up to $20 million in Bitcoin as part of its strategy to diversify its treasury and strengthen ties with the crypto community. This move follows the example of companies like MicroStrategy, which has invested billions in Bitcoin.
JoyBitcoin is nearing the $100,000 mark, driven by growing optimism around Trump’s crypto-friendly policies and rising institutional interest. The crypto market is surging, with altcoins also gaining strength, signaling a bullish trend across the sector.
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AnaisMichael Saylor plans to present a Bitcoin investment strategy to Microsoft’s board ahead of a key vote on 10 December. The proposal, backed by shareholder activism, suggests Microsoft consider Bitcoin as a potential investment, citing MicroStrategy's success with the asset.
AnaisA Brazilian pianist lost access to his Bitcoin wallet worth over 2 million reais after misplacing his recovery phrase. Despite efforts to recover it, he faces the harsh reality that without the backup phrase and PIN, the funds are likely gone for good.
JoyOn June 10, 2024, UwU Lend was attacked, and the project owner lost about 19.3 million US dollars. SharkTeam immediately conducted a technical analysis of the incident and summarized security precautions.
JinseFinanceOn June 10, 2024, according to the SlowMist MistEye security monitoring system, UwU Lend, a platform providing digital asset lending services on the EVM chain, was attacked and suffered a loss of approximately US$19.3 million.
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CointelegraphAfter four years of waiting, THORChain's new mainnet "marks the realization of a fully functional and feature-rich protocol with a large ecosystem and strong community."
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