Tornado Cash TVL saw a boost in July due to renewed interest in decentralized finance (толугу менен) and certain areas of the crypto finance industry.
TornadoCash is a platform that is used to obfuscate crypto asset transfers. The platform’s native ТОРН asset increased by 49% in жалпы маани кулпуланды in July. On July 1, it had a TVL of around $297.13 million, and this ascended to $445.37 million on July 31.
Announced in December 2020 and launched in February 2021, TornadoCash is a service that helps cryptocurrency owners protect their anonymity by scrambling information trails on the blockchain. Through this decentralized solution, around 40,000 users have been able to conceal transactions.
What contributed to the rising TVL?
TVL soared in July due to an increase in the value locked on all the blockchains where the protocol is deployed. There was a spike in TVL on Ethereum, Binance SmartChain, Арбитрум, мөнгү, Gnosis, and маанай ошол эле мезгилдин ичинде.
After going up by $148.24 million, Tornado Cash had the lion’s share in TVL when compared to Quickswap, DefiChain DEX, Benqi, Соленд, BiSwap, and Marinade Finance.
TORN price reaction
ТОРН opened on July 1, with a trading price of $20.73, reached a monthly high of $28.38, tested a monthly low of $19.56, and closed the month at $25.09. Overall, there was a 21% increase between the opening and closing price of TORN in July.
баш тартуу
Биздин сайтта камтылган бардык маалыматтар ак ниеттүүлүк менен жана жалпы маалымат берүү максатында гана жарыяланган. Окурман биздин веб-сайттагы маалыматты кандай гана болбосун, алардын өз тобокелчилигинде.
Source: https://beincrypto.com/tornado-cash-total-value-locked-tvl-spikes-140-million/