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Friday, October 7, 2022

RUNE Pumped Up To 18%, THORChain Deactivates Non-native Tokens

The BEP-2 and ERC-20-based variants are changing their places for a native, upgraded token called RUNE. THORChain has suffered its mainnet late of last month.

THORChain’s mainnet came late in the last month. This opened a prospect for a native token called RUNE. The BNB and the ETH variants of the token is being cleaned from the market as the upgraded token takes them over.

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These tokens are hoped to go down in price over the next 12 months. This project aims to unify with its variant and thus create better interoperability of the assets.

What Will Happen To The BNB.RUNE And The ETH.RUNE Holdings? 

Well, as per the news so far, those who have held possessions of those two currencies have to worry about nothing. These holdings will be upgraded to the new native variation automatically

However, there can be a little bit of work for the people who keep their holdings in private wallets. For them, one has to open a new account and wallet with THORChain and have to press a button to upgrade. That way, all these holdings will be upgraded to RUNE.

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The team of THORChain has recently taken Twitter to share the news. They said that the killswitch would be at 6500000 blocks, and the 1:1 ratio will go down to 1:0 slowly as the IOU tokens we have talked about get worthless.

According to data from the CoinGecko, RUNE, now standing at $2.61, has helped THORChain with a significant leap of 18.6%. Rune has already gained 65.9% in the last month. However, it is still not great news for the holders as the coin still is 87.5% behind its all-time high.

The project aims to decentralize the holdings of the coins. It also is looking forward to enhancing the security measures of the network and more.

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