Binance Temporarily Suspends RUNE Transactions for THORChain Network Upgrade

Binance has announced a temporary suspension of deposits and withdrawals for THORChain (RUNE) in preparation for a scheduled network upgrade and hard fork. The suspension, which took effect on July 16 at 7:00 PM Turkish Time, aligns with the blockchain's milestone at block height 21,984,000. While trading activities remain unaffected, the exchange will handle all technical aspects during the maintenance window, expected to conclude by 8:00 PM. Users are advised to complete any pending transfers before the suspension period. This move underscores Binance's commitment to ensuring a seamless transition during critical network upgrades, reflecting the growing maturity of blockchain infrastructure in the cryptocurrency ecosystem.

Binance Suspends RUNE Transactions Amid THORChain Network Upgrade

Binance has temporarily halted deposits and withdrawals for THORChain (RUNE) ahead of a scheduled network upgrade and hard fork. The suspension, effective July 16 at 7:00 PM Turkish Time, coincides with the blockchain's milestone at block height 21,984,000. Trading remains unaffected.

The exchange will manage all technical aspects during the maintenance window, expected to last until 8:00 PM. Users must complete transfers before the cutoff. Network stability will determine when services resume—no further announcements are planned.

THORChain's upgrade focuses on security and efficiency enhancements. Such protocol improvements often precede increased network activity, though short-term operational disruptions are inevitable during transitions.

Ether Outperforms Bitcoin as GENUIS Act Shifts Focus to Yield-Bearing Stablecoins

Ether surged 6% against Bitcoin, marking its strongest performance since mid-May, as the proposed GENUIS Act threatens to ban interest-paying stablecoins. The ETH/BTC ratio climbed to 0.02670, while ether's USD price breached $3,100 for the first time since February.

Analyst Markus Thielen of 10x Research attributes ether's rally to growing expectations that the U.S. stablecoin bill will pass, potentially cementing Ethereum's role in the digital asset ecosystem. The legislation WOULD prohibit U.S. issuers from offering yield-bearing stablecoins, drawing attention to synthetic dollar products like Ethena's USDe.

The market movement reflects a decisive breakout from weeks of range-bound trading, suggesting continued ether outperformance. Thielen notes the GENUIS Act has particularly spotlighted Ethena's $5 billion USDe, which generates yield through delta-hedging strategies involving ETH collateral and perpetual futures.