Binance suspends RUNE deposits & withdrawals for THORChain upgrade
Binance will temporarily suspend THORChain (RUNE) deposits and withdrawals starting 22 January 2025 at 20:00 UTC to support a scheduled THORChain protocol upgrade. Spot trading for RUNE will remain active during the maintenance window. Binance says the pause — typically 2–8 hours but dependent on network stability checks — is required to upgrade nodes and avoid funds getting lost or stuck during the chain transition. The upgrade is expected to occur automatically once the target block height is reached; deposits and withdrawals will resume only after Binance verifies network stability. Users are advised to complete pending deposits or withdrawals before the deadline, check transaction histories, and follow Binance’s official channels for the resumption notice. The upgrade is part of THORChain’s roadmap to improve cross-chain liquidity, security and interoperability. Historically, exchange pauses for chain upgrades are routine but can cause short-term volatility in RUNE markets, so traders should prepare for possible price swings and liquidity changes during and shortly after the maintenance window.
Neutral
The announcement is an operational maintenance notice rather than a protocol failure or security incident, so the long-term fundamentals of RUNE are unchanged. Short-term price impact is likely: deposits/withdrawals freezes reduce liquidity and can trigger volatility or wider spreads during the maintenance window and immediately after resumption. Spot trading remaining active limits extreme sell pressure, which mutes downside risk compared with a full trading halt. Historical precedent shows such pauses typically produce brief price swings that settle once normal deposit/withdrawal flow resumes. Therefore the expected market effect is neutral overall — elevated short-term volatility but no persistent bullish or bearish trend solely from this announcement.