Resource: News.bitcoin.com
2 months ago
Date: 13 Aug 2022 - 20:30

Amid the crackdown against Tornado Cash associated addresses contributing developers and anyone who uses the mixing platform the projects governance token called TORN has shuddered in value. TORN is an ERC20 with a fixed supply that is leveraged for governance proposals and voting. During the last seven days the Tornado Cash governance token has lost 57.6 in value against the U.S. dollar. Tornado Cash Token Loses More Than Half of Its Value This WeekIt seems that everything Tornado Cash touched is tainted and during the last week the projects governance token tornado cash TORN has lost more than half of its USD value. TORN is an ERC20based token that was launched in February 2021 and 5 of the supply was airdropped to users who had leveraged the mixing application before the snapshot.Theres approximately 1511065 TORN tokens and 500000 TORN was airdropped to the Tornado Cash community. Since the U.S. government cracked down on Tornado Cash and banned the mixing application alongside associated ETHbased addresses TORN has taken a severe market beating.TORN has seen 43.4 million in global trade volume and a lot of it stems from selling. Popular crypto exchanges that list TORN include Binance Bingx and Bitget. 69.93 of all TORN trades today are paired against USDT which is followed by BUSD 24.73 BTC 3.92 WETH 1.18 and USDC 0.24.Additionally 30 of the TORN stash was reserved for devs and contributors and vested for a threeyear linear vesting period with a oneyear cliff. TORN is down 97.2 from the crypto assets alltime high on February 13 2021.TORN tapped an alltime low hours ago on Saturday morning EST hitting 11.81 per unit on August 13. If the TORN market rout continues vested stashes of the ERC20 will be worth less and less as time passes. The U.S. governments sanctions against the mixer Tornado Cash may cause TORN investors to continue dumping after losing faith in the project.What do you think about the tornado cash TORN coin losing significant value this past week Let us know what you think about this subject in the comments section below.

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USDT Market Price Change (24H) Market Cap Last 7 Days
39997.79 $ 0 % 760.32 Billion $
3001.33 $ 0 % 360.05 Billion $
1.001 $ 0 % 82.65 Billion $
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1.004 $ 0 % 50.96 Billion $
101.49 $ 0 % 33.28 Billion $
0.122 $ 0 % 31.52 Billion $
0.7024 $ 0 % 30.96 Billion $
82.96 $ 0 % 29.44 Billion $
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