Tornado Cash (TORN) has seen its token price and total value locked (TVL) surge despite a bearish crypto market. TORN is up by 11.8% in the past 24 hours, trading at $3.36, with a market cap exceeding $17 million.
Historically, TORN is still down 99.23% from its all-time high of $437.41 in February 2021. However, its TVL increased by 7%, reaching $614.18 million, a level last seen in May 2022.
The Tornado Cash defi protocol, known for its privacy features on Ethereum, saw $41.63 million in USD inflows today. This comes after its downfall in August 2022 due to sanctions by the U.S. Treasury’s Office of Foreign Assets Control (OFAC).
Support from influential figures like Vitalik Buterin, who recently donated 30 ETH, underscores the ongoing significance and potential long-term resilience of Tornado Cash.
