--- title: "Why did THORChain drop 2.9% on October 31, 2026?" language: en canonical: "https://whycoinmoves.com/en/coins/thorchain/2026-10-31" date: 2026-10-31 --- # Why did THORChain drop 2.9% on October 31, 2026? A THORChain-specific operational disruption is the clearest candidate: reports said an Ethereum reorganization caused a duplicate refund and an emergency pause. The fall may also have been amplified by long liquidations, but their timing does not establish that they started it. On October 31, 2026 (UTC), RUNE went from about $0.648 to $0.63 (-2.88%) on Gate · USDT, trading between $0.6215 and $0.73. There is not enough price history yet to tell how much of RUNE's move followed Bitcoin; the figures below describe the move, not its cause. RUNE fell further than this on 8 of the past 29 days. 2 RUNE reports are on the timeline below: 1 published before the largest hourly move and 1 during or after it. Timing alone does not show what caused the move. ## What may be driving the move A THORChain-specific operational disruption is the clearest candidate: reports said an Ethereum reorganization caused a duplicate refund and an emergency pause. The fall may also have been amplified by long liquidations, but their timing does not establish that they started it. - trigger · medium: Reports published Oct 31 at 11:02 UTC said an Ethereum reorganization led to a duplicate refund and THORChain pausing operations. A disruption could weaken confidence in the protocol or demand for RUNE. Evidence gap: The report times are not verified event-onset times, and the evidence does not show the pause’s direct effect on RUNE or connect it to the start of the fall. Sources: [S12](), [S11]() - amplifier · low: Gate recorded about $42,600 in long liquidations during the measured 24 hours, mostly in the hour beginning Oct 31 at 16:00 UTC. Forced long closures could have added selling pressure. Evidence gap: This is one venue’s data; it does not establish whether liquidations followed or intensified the fall. Open interest fell, but that alone does not identify direction or cause. Sources: [S3]() Open question: The reports do not establish when the pause began or how directly it affected RUNE demand; the liquidation data covers one venue and cannot show whether liquidations preceded or followed the fall. Analysis generated: 2026-11-01T01:08:16.000Z; evidence window: 2026-10-31T01:07:57.000Z → 2026-11-01T01:07:57.000Z. - Day open / close: $0.648 → $0.63 (24 hourly candles, Gate · USDT) - Day range: $0.6215 – $0.73 - Versus the past month: 8 of the past 29 days fell further; -2.88% in the 24 hours to Nov 1, 2026, 00:00 UTC, 1.4× a typical day (2.0%). - 30-day range: 23.3% below the high · 8.7% above the low; From hourly highs and lows on the same venue - 24h volume: 3.0×; of its prior 30-day daily average Computed from Gate · USDT hourly candles for the 24 hours to Nov 1, 2026, 00:00 UTC. ## RUNE timeline around October 31, 2026 Largest closed hourly move: -5.88%, Oct 31, 2026, 16:00–17:00 (UTC). - Oct 30, 2026, 09:52 UTC (before the largest hourly move): [RUNE rises after report of Binance record $6.3B hack]() · Cointelegraph — Cointelegraph reported that THORChain's RUNE token jumped 13% after Binance's record $6.3B hack. - Nov 1, 2026, 18:25 UTC (after the largest hourly move): [Analyst says North Korean hackers laundered $242 million via Tron as FBI presses THORChain]() · The Block — An analyst cited by The Block said North Korean hackers laundered $242 million of Binance loot through Tron, and that crypto bridges Relay, THORChain, Chainflip and Symbiosis moved about $140 million of the stolen funds off Tron, with… Prices, market readings and reports are shown side by side; timing alone does not show what caused a move. ## Same-day movers · 2026-10-31 (UTC) - [Akedo (AKE) -21.50%]() - [Lisk (LSK) +19.22%]() - [Lighter (LIT) +13.80%]() - [Morpho (MORPHO) +13.74%]() - [Stacks (STX) +12.81%]() [THORChain (RUNE) price and news]() [Methods and limitations]()