The price of $TORN, the native token of Tornado Cash, surged by an astonishing 1000% in just 90 minutes after news broke that a court had declared sanctions against the protocol illegal.
The announcement, which surfaced at 2:16 Moscow time, sent the token’s value soaring as traders rushed to capitalize on the development.
Within minutes of the news, savvy investors began accumulating $TORN. Just 10 minutes later, the token topped charts in both social media activity on X (formerly Twitter) and trading volume dynamics, with a 24-hour volume increase coefficient of +105.
Interestingly, $TORN had already been leading activity changes on X five minutes before the news broke, significantly outperforming its 30-day average.
🌪🚀 #TORN +1000% in an hour and a half on the news that the Court declared sanctions against Tornado Cash illegal.
The news appeared at 2:16 Moscow time, after which $TORN took off. After 2 minutes, smart guys were already actively buying the token (2 screenshots).
10 minutes… pic.twitter.com/6ncha2WJHJ
— CryptoBull_360 (@CryptoBull_360) November 27, 2024
$TORN ComebackÂ
This meteoric rise comes exactly one year after Binance announced the delisting of $TORN, a decision that pushed the token to its lowest point. However, recent events have breathed new life into the token. On November 8 and 11, a “smart money” investor accumulated 26,359 $TORN from MEXC at an average price of $2.70 per token, totaling $455,000. With $TORN’s current price reflecting a 540% gain, this investor’s unrealized profit stands at an impressive $384,000.
After a U.S. court ruled that sanctions against the #TornadoCash were unlawful, the price of $TORN skyrocketed by ~1000%!
On Nov 8 and Nov 11, a smart money accumulated 26,359 $TORN($455K) from #MEXC at ~$2.7.
The unrealized profit is $384K (+540%) currently.… pic.twitter.com/9RpDeKJEi4
— Lookonchain (@lookonchain) November 27, 2024
The news has reignited interest in $TORN, with market participants speculating on its future prospects. While the token’s dramatic recovery highlights the potential impact of regulatory clarity, the broader implications for Tornado Cash remain to be seen. For now, $TORN’s explosive rally is a testament to how quickly market sentiment can shift in response to legal and regulatory developments.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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