What Is Tornado Cash (TORN) Coin: TORN Jumps 410% In 24 Hours As Sanctions Lifted
Tornado Cash is a crypto transaction privacy program developed on the Ethereum blockchain, which breaks the direct connection between the sender and receiver of the cryptocurrency, thus providing greater privacy in cryptocurrency transactions.
Concerns over the misuse of the technology for money laundering led the U.S. government to announce sanctions against Tornado Cash in 2022, imposing significantly negative impact on Tornado Cash and its native token TORN. However, in November this year, the US Court of Appeals overturned the sanctions order, causing TORN coin to skyrocket 10 times, once again raising the hopes of the community.
Then, what is Tornado Cash (TORN)? Is it legal? What is the future of TORN Coin? This guide provides a comprehensive overview on Tornado Cash and its native token TORN.
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Table of Contents
Latest News & Updates on Tornado Cash (TORN)
Tornado Cash (TORN) Price History
Tornado Cash (TORN) Price Prediction
Is Tornado Cash (TORN) Price a Good Investment?
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Latest News & Updates on Tornado Cash (TORN)
In 2022, the Office of Foreign Assets Control (OFAC) of the US Treasury Department imposed sanctions on Tornado Cash, accusing it of facilitating transactions for users posing national security threats, notably hackers backed by North Korea.
According to US officials, They were stealing billions of dollars in crypto from various platforms, and using the proceeds to fund Pyongyang’s nuclear weapons programme.
Following the sanctions imposed on Tornado Cash, six users banded together to sue OFAC, contending that the law utilized was inadequate to address the complexities raised by blockchain-based technology.
Since then, TORN (Tornado Cash) has been hovering below $10 for a long time.
TORN has soared by 410%, surging to $18 after a federal appeals court lifted US sanctions against the Tornado Cash mixing service.
The U.S. Court of Appeals for the Fifth Circuit ruled that immutable smart contracts such as Tornado Cash cannot be classified as “property” under current law, and that the U.S. Treasury’s Office of Foreign Assets Control (OFAC) “overstepped the authority granted by Congress.”
The ruling means Tornado Cash’s smart contracts will be removed from the sanctions list and US persons will once again be allowed to use this privacy-protecting protocol.
Inspired by the news, Tornado Cash’s native token, TORN, soared to a high above $41 on November 27, an increase of nearly 1,000%. Although the price of TORN coin has fallen since then, the ruling will have an impact on TORN coin in the future.
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What is Tornado Cash?
Tornado Cash is a decentralized, open-source cryptocurrency mixer designed to enhance the privacy of blockchain-based transactions. Operating on the Ethereum blockchain, Tornado Cash enables users to obscure the link between the sender and recipient of cryptocurrency transactions. This is achieved through the use of advanced cryptographic techniques and self-executing smart contracts.
Tornado Cash adopts zero-knowledge proofs to obscure the trail of cryptocurrency transactions, providing privacy for users. The protocol is governed by a decentralized autonomous organization (DAO) and employs a voting system using the $TORN token for protocol updates. Despite its legitimate privacy goals, Tornado Cash has been accused of facilitating money laundering and has faced significant legal challenges, including sanctions from the U.S. Treasury’s Office of Foreign Assets Control (OFAC) and criminal charges against its developers.
How does Tornado Cash Work?
Tornado Cash serves as an intermediary in cryptocurrency transactions with the aim of enhancing privacy. Typically, cryptocurrency is exchanged directly between two parties, creating a record that links the sender to the receiver.
Tornado Cash works to break this link by taking crypto deposits, disassociating them from their senders, and then giving them back out to any other party that has a deposit’s associated security key.
Here’s how Tornado Cash works:
- A user chooses a cryptocurrency and the amount they want to deposit to Tornado Cash.
- The user connects their crypto wallet to Tornado Cash to facilitate the transaction.
- Tornado Cash generates a security key specific to the deposit, which the user copies.
- Once the transaction is authorized and completed, Tornado Cash puts the deposited crypto in a shared pool, where it’s disassociated from the depositor’s crypto wallet address. This is known as “crypto tumbling” or “crypto mixing.”
- A person who has a deposit transaction’s associated security key can use it to withdraw crypto from the balance into their own crypto wallet.
A person withdrawing crypto from Tornado Cash may also use a “relayer” program. A relayer takes a withdrawal request, then files it with Tornado Cash on the user’s behalf. So the person can withdraw crypto from Tornado Cash without having the withdrawal transaction directly linked to their crypto wallet address, further protecting their privacy.
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What is the TORN Token?
| Cryptocurrency | TORN Token |
| Token | TORN |
| Price | $ 5.1795  0.00% |
| Rank | 1372 |
| Market Cap | $ 2.6M |
| 24H Trading Volume | $ 1.5M |
| All-time High | $ 91.9733 |
| All-time Low | $ 1.3220 |
| 24 High | $ 5.1795 |
| 24 Low | $ 5.1795 |
| Cycle High | $ 5.1795 / 2024-11-26 23:21:49 |
| Cycle Low | $ 1.3220 / 2024-02-24 15:40:00 |
| Update Time | 2024-11-28 07:27:53 |
The TORN token is the governance token of Tornado Cash. It was announced in December 2020 and launched in February 2021.
TORN Token Utility
TORN is the native currency of Tornado Cash. It’s an ERC-20 token with a maximum supply of 10 billion coins, and it enables holders to participate in proposals and vote for protocol changes. Besides, TORN holders gain Anonymity Points as they use the protocol, which they can deposit into a protected account and convert into TORN tokens.
TORN Tokenomics
With a total supply of 10 million TORN tokens, 55% is reserved for the DAO governance treasury, 30% for founding developers and early supporters, and 10% for anonymity mining. The remaining 5% was airdropped to early adopters.
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Tornado Cash (TORN) Price History
TORN was officially launched in February 2021 with an initial price of $273. TORN then rocketed to a record high of $437.41.
After hitting a high, TORN quickly fell back to below $100. Even when the bull market hit in 2021, TORN traded as high as $77.
In August 2022, due to the sanctions imposed by the US government, TORN coin fell even further, falling $10 and reaching an all-time low of $1.31 in January 2024.
However, in November 2024, sanctions against Tornado Cash changed, and the price of TORN coin soared more than 10 times to a maximum of $41.42.
As of writing the article, Tornado Cash is traded at $ 5.1795, boosting a market cap of $ 2.6M and witnessing a 24H trading volume of $ 1.5M. TORN token saw a price change of 0.00% over the past 24 hours and minor fluctuation of 0.00% over the past hour.
The following sets forth the TORN to USD Chart
Tornado Cash (TORN) Price Prediction
The following sets forth our price prediction for TORN from 2025 to 2050:
| Year | Yearly Low | Yearly Average | Yearly High |
| 2025 | $ 6.0707 | $ 9.1305 | $ 10.6389 |
| 2026 | $ 6.6825 | $ 8.8071 | $ 9.6792 |
| 2027 | $ 7.1898 | $ 9.4405 | $ 9.6269 |
| 2028 | $ 9.5378 | $ 11.6222 | $ 12.3860 |
| 2029 | $ 10.9242 | $ 17.5366 | $ 20.1169 |
| 2030 | $ 10.5517 | $ 17.7246 | $ 18.6801 |
| 2035 | $ 10.0365 | $ 17.4934 | $ 20.9750 |
| 2040 | $ 18.9295 | $ 28.0146 | $ 30.1192 |
| 2045 | $ 19.4166 | $ 31.2864 | $ 35.2244 |
| 2050 | $ 20.2035 | $ 34.7169 | $ 39.3424 |
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Is Tornado Cash (TORN) Price a Good Investment?
In many ways, the outcome of the U.S. Treasury’s sanctions against Tornado Cash could be a defining moment for digital assets. It shows how far the U.S. government is willing to go in controlling cryptocurrencies as they approach mainstream acceptance.
The future of Tornado Cash looks bleak until 2024 as the US government continues to adopt a negative attitude towards it. After the US election results, things took a turn, with the market expecting Trump to implement a more cryptocurrency-friendly regulatory environment. The latest ruling by the US appeals court seems to confirm this.
With regulatory changes and legal access to Tornado Cash in the United States, Tornado Cash usage will improve and increase user and investor confidence in the future of Tornado Cash.
How to Buy the TORN Token?
At present, TORN token is available on crypto exchnages like MEXC, Gate.io, Uniswap, ETC., where interested investors can trade this coin.
Unfortunately, TORN is not available on BTCC platform as it is under its presale stage. However, it is worth mentioning that BTCC, one of the longest-running exchanges in the world, supports crypto copy trading, spot trading, as well as futures trading for 300+ cryptocurrencies with a leverage ranging from 1Χ to 500Χ. If you want to trade cryptocurrency, you can start by signing up for BTCC.
That’s all information about Tornado Cash (TORN). If you want to know more information about Tornado Cash (TORN) coin and other cryptocurrencies, please visit BTCC Academy.
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