The cryptocurrency market is struggling to maintain its gains in the new year, which started with a strong rally. While the leading crypto Bitcoin (BTC) is trying to reclaim $23,000, altcoin projects are also resisting the bears. However, the impact of important news on the market is strong due to the positive weather. After a significant merger, Threshold (T) rallied 132 percent.
Threshold (T) has crossed the world boundaries and reached the moon!
According to data from CoinMarketCap, Threshold Network (T) saw its price skyrocket today. The altcoin project made a flight to $ 0.0278 $ 0.06278 during the day. At the current rate of growth of Threshold, a very promising announcement shared by the protocol has played a significant role. Although the altcoin project retreated from its daily top, it remained bullish at press time and was changing hands at $0.052, up 80%.
cryptocoin.comThe reawakening of Threshold came from a recent tweet by Coinbase Assets that highlighted the potential of NyCypher Protocol (NU) and Keep Network (KEEP) to combine to create the Threshold protocol. As the merger launches in 2021, Coinbase said it will disable NU and KEEP support while accepting deposits for T.
Since the opening of Coinbase deposits is billed on January 25th, T token holders are particularly on a saving spree to take advantage of the potential price increase that could be recorded in the coin once trading starts on Coinbase.
This kind of price increase, which is prelisted on a major exchange like Coinbase, is not a new phenomenon. Also, as a highly volatile and relatively low-volume cryptocurrency, big price movements are somehow inevitable for Threshold.
Altcoin rising to fall?
With Threshold’s current growth rate, there could be a period of significant cooling after the Coinbase listing, according to crypto analyst Godfrey Benjamin. Despite this growth, the T still has a long way to go before it retests its all-time high of $0.2245, which it reached nearly a year ago.
Regardless of the current price action, Coinbase’s Threshold listing is proof that the American trading platform supports both the core NyCypher and the Keep Network’s core ideology. After the merger, Threshold remained relevant as a network that provides and maintains a set of cryptographic primitives for various dApps. The protocol’s ecosystem is growing and the Coinbase listing will place it on the top altcoin projects map to watch out for.
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