Rune faced a sudden drop today at about 30%. A lot of concerns taking place around the insolvency of the project adding to the fact that Rune price is under 2,50$.
👉 THORFI Lending markets are not-supported / paused by the current Node operators on the THORChain DeFi protocol
👉 Bad Dept leed to a 90-day restructure plan
👉 Crypto Influencers and KOL spreading the concern on social media wether THORChain will be able to meet its BTC and ETH obligations to creditors
👉 Fear / Concerns for surge in large redemptions
The problem began with large BTC loans that THORChain had to secure by issuing additional RUNE tokens as collateral.
Rumours are matching the issue with the Terra / Luna collapse in 2022.
What are your opinions around it and are there any other crypto projects that might face the similar issue ?
