Home Technology Ethereum (ETH) and Tornado Cash (TORN) exploded! So why?

Ethereum (ETH) and Tornado Cash (TORN) exploded! So why?

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Ethereum (ETH) and Tornado Cash (TORN) exploded!  So why?


Recent turbulent events in the cryptocurrency industry have sparked increased interest in some related tokens, notably Ethereum (ETH) and Tornado Cash (TORN).

Ethereum (ETH) and Tornado Cash (TORN) exploded! So why?

According to data on CoinMarketCap on August 10, a few hours ago, Ethereum emerged as the leader of the crypto trend list, strengthening 0.11% in 24 hours and 2.57% over the week, while TORN took second place despite losing 16.74% on the day and 32.03% during the week. .

Ethereum (ETH) and Tornado Cash (TORN) exploded!  So why?  - Picture : 1

Top 5 trending cryptocurrencies in 24 hours. Source: CoinMarketCap (3 hours ago)

However, while we were preparing this content, Ethereum, in particular, had a rapid rise in a few hours. According to snapshots, Ethereum emerged as the leader of the crypto trend list, gaining 8.18% in 24 hours, while TORN took second place despite losing 13.00% on the day.

Ethereum (ETH) and Tornado Cash (TORN) exploded!  So why?  - Picture : 2

Top 3 trending cryptocurrencies in 24 hours. Source: CoinMarketCap (Instant)

This impact on Ethereum’s rise may be due to the rapid approach of the Merge upgrade, which will mark the network’s transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) algorithm. This also seems to have affected the ETH futures volume reaching a 3-month high.

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