Tornado Cash (TORN) is a decentralized and non-custodial privacy solution built on the Ethereum blockchain. The cryptocurrency leverages zero-knowledge proofs and smart contracts to offer a permissionless and completely private network.
This guide reviews the Tornado Cash price prediction for 2023-2025. We take an in-depth look at this popular cryptocurrency platform’s main features to determine TORN’s potential value in the coming years.
Tornado Cash Price Prediction Summary
After releasing in 2019, Tornado Cash (TORN) has been a very volatile asset. Initially, the token reached an all-time high (ATH) of $437 a week after releasing at $213. However, ongoing sanctions from the U.S Treasury Department have led the TORN crypto price to fall under $10.
This Tornado Cash price prediction summary lists some potential targets for TORN in the coming years:
- End of 2023 – The medium-term performance of TORN will depend on the aftermath of the sanctions. A positive outlook in the ongoing scenario could witness TORN push past the $30 level, where the token traded before the sanction.
- End of 2024 – TORN has been on a downtrend since setting an all-time high (ATH) and could end 2024 at $2.
- End of 2025 – Many Tornado Cash price prediction algorithms are suggesting differing outlooks on the long-term price of TORN. Wallet Investor predicts a drop below $1, while other price prediction forums predict TORN to surpass the $100 mark in 2025.
Tornado Cash Coin Price History
In 2019, Tornado Cash (V1) was released as experimental software before it became a wholly decentralized and open-source blockchain.
In February 2021, Tornado Cash (TORN) went live after airdropping 500,000 tokens -accounting for 5% of the 10 million total supply.
The token traded over the $400 mark during February after TORN was listed on the BKEX exchange with a USDT pairing. However, the initial price increase proved too much, as the bears took over and pushed TORN coin price below the $200 mark at the beginning of March.
After falling to $129 at the beginning of March, the token showed signs of reversal after increasing to $180 on the 14th. This was following the network’s announcement that it planned to add back-ups to its withdrawal keys.
In a press release issued by the treasury department, Tornado Cash has been used to launder over $7 billion in virtual currency since 2019. The announcement of the sanctions led to a massive price drop, as TORN fell from $30 to $16 in 24 hours.
The token is 98% below its ATH of $437.
- TORN was released at $213 on 7th February 2021, with a max token supply of 10 million
- On 13th February 2021, TORN reached an ATH of $437.
- The bears swept in and pushed the token to the $120 mark beginning March 2021.
- TORN rose to $180 during mid-March after the platform implemented back-ups for its withdrawal keys
- The Torn token price has fallen to $8.76 after the US Treasury Department sanctioned the platform for an alleged $7 billion being money laundered on the cryptocurrency.
Tornado Cash Crypto Price Prediction 2023
The Tornado cash price prediction for the medium-term will massively depend on the impact of the U.S Treasury Department’s sanctions. Currently, U.S-based investors are exempt from using the Tornado Cash network, which is one of the reasons for the recent price correction.
However, the platform creators have stated that this truly decentralized platform has been created to provide investors with 100% privacy. Following the U.S sanctions, Vitalik Buterin, the creator of Ethereum, tweeted that he used Tornado Cash to donate to Ukraine.
This argument states that the permissionless and decentralized network can be used for financial privacy on a global scale. Since the whole concept of blockchain technology in a decentralized set-up has promoted privacy and secrecy of transactions, Tornado Cash may remain a popular platform for users.
Currently, TORN is trading at its lowest price point since its release. By 2023, we will get a better idea of the impact of the sanctions on this cryptos price. A bullish scenario could send the Tornado cash price to the levels before the US sanction. In this case, a price increase of $30 and above is possible.
On a bearish note, TORN may experience challenges in adopting new investors due to the uncertainty of the ban. As seen with XRP, the court case with the SEC (securities and exchange commission) has led to years of token trading sideways. Long-term investors may avoid further investments if the token keeps correcting below $7 to $6.
Tornado Cash Coin Price Prediction 2025-30 Prediction
Apart from the recent sanctions, Tornado Cash offers a unique cryptocurrency network. In May 2020, the creators destroyed their admin keys, meaning they cannot see or alter any transactions on the network.
The network aims to provide investors with a completely private network, which is why it may be adopted in the long term. One of the most volatile cryptocurrency assets in the market, there are many differing Tornado Cash price predictions. For example, priceprediction.net, an AI-based algorithm, predicts Tornado Cash to have an average price of $105 by 2025. This is nearly an 11x price increase from current levels.
However, Wallet Investor (WI), another crypto price prediction algorithm, predicts the token to fall by 96% by 2025. This would place the TORN crypto price at $0.35 per token.
Potential Highs & Lows of Tornado Cash Coin
The table below summarizes the potential price predictions for Tornado Cash between 2023 – 2025.
|Year of Price Prediction||Potential High||Potential Low||Average Predicted Price|
What is Tornado Cash Coin Used For?
The sections below discuss some of the main use cases of Tornado Cash.
Tornado Cash is an open-sourced and permissionless crypto network that acts as a privacy solution on the Ethereum blockchain. The platform uses zero-knowledge succinct non-interactive argument of knowledge (zk-SNARKS) – a protocol that allows an entity to prove it possesses certain information without revealing it.
In the case of Tornado Cash, the zk-SNARKS allow the users to prove they are entitled to receive a certain number of tokens from the smart contracts that the cryptocurrency uses without actually handing out private information from their deposits.
This allows participants to break a link in on-chain activity, facilitating transaction privacy between the sending and receiving parties.
The Tornado Cash network develops a secret hash whenever an investor deposits assets. The smart contracts on the network are used along with the hash to accept the deposit.
Another privacy feature that users can access with Tornado Cash is anonymity mining. This is a mining process where the only information users provide is the wallet address.
Tornado Cash provides users with a two-stage shielded liquidity mining system, which provides investors with privacy when mining tokens by providing liquidity to the platform. After investors deposit their holdings on Tornado Cash, they are awarded Anonymity Points (AP) in their shielded account.
The shield account hides the users’ wallet addresses, balances, and other information. After investors collect enough AP, they can convert their holdings into TORN tokens.
Tornado Cash provides investors with its private blockchain network by leveraging TORN – the governance token of the network. TORN is an ERC-20 token with a total supply of $10 million; and is used to maintain transactions and can be used as an investment asset.
Notably, 55% of the total token supply has been reserved for the DAO (decentralized autonomous organization) governance treasury, allowing participants to make decisions on the network.
What Drives the Price of Tornado Cash?
The sections below will take a look at some of the major factors that determine the price of Tornado Cash.
After launching at just over $200 a token, TORN reached an ATH of $437 within the same month of trading. This is due to the 100% privacy that the network provides. While the Tornado Cash network has been linked to anonymous hackers and potential money laundering activities, it provides a decentralized set-up.
When Bitcoin was released in 2009, the main purpose was to provide an anonymous and less-centralized form of currency for investors to use globally.
While Tornado Cash’s (V1) was experimental software, the TORN token facilitates privacy and anonymous transactions worldwide.
Uncertainty through Recent Backlash
While the Tornado Cash network offers a unique means of transferring funds internationally, the US Treasury Department has recently sanctioned the platform. The department has claimed that over $7 billion worth of funds has been laundered via the Tornado Cash network.
The department believes that $455 million of the laundered money comes from funds that have been stolen by hackers sponsored by the Democratic People’s Republic of Korea. The group of hackers, believed to be the Lazarus Hacking Group, was previously sanctioned by the treasury department in 2019.
The Tornado Cash token price dropped after the crackdown, falling from $30 to $8 in a span of a few days.
Is Tornado Cash the Best Coin to Buy in 2023?
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This guide has reviewed the Tornado Cash coin price to determine the potential price predictions for 2023-2025. While TORN provides investors with a completely private and decentralized method to send and receive funds, recent sanctions led to a 50% price correction in the token.
We also recommended $FGHT as a great alternative to Tornadao Cash to invest in right now. Currently, the token is undergoing one of the most viral crypto presales and has collected over $5 million during the first stages of its presale.
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