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Altcoin, Up 284 Percent in the Last Month, Plunges on Rumors, Developer Defends It as ‘FUD’

THORChain (RUNE), a decentralized liquidity protocol that enables cross-chain swaps, announced that it is facing a performance issue on the Binance Smart Chain (BSC) cryptocurrency network.

The issue affects trading of BSC’s native token, BNB, on the THORChain platform. The network will need to pause outbound signing and trading until a correction is made, which is expected early next week.

According to a tweet by THORChain’s anonymous developer Pluto, the problem stems from the difficulty of processing large BSC blocks.

According to the tweet, THORChain has to monitor transactions on nine subchains, including the BSC, and run nine daemons for each chain. If there is a problem operating any of these chains, THORChain must stop processing transactions related to assets on these chains.

Chart showing today’s approximately 10% drop in RUNE price.

Pluto explained that this is a usual issue for all exchanges that deal with multiple layer 1 networks and that THORChain is a separate Blockchain that operates independently of other chains.

Pluto noted to the community that this incident was considered routine and that the team had dealt with similar issues on other chains before. Pluto also asked users to stop spreading fear, uncertainty and doubt (FUD) in the replies section below his post.

*This is not investment advice.

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