- TORN, the native token of Tornado Cash, crossed the $20 mark on Friday, recording a 170% gain since Trump’s inauguration.
- Ethereum co-founder Vitalik Buterin has called for the release of the Tornado Cash co-founders after Trump recently pardoned Ross Ulbricht.
- Recent events have boosted demand for privacy-focused coins with Monero, TRON, and DASH attracting significant search interest on CoingeCo.
The price of TornadoCash (TORN) reached $20 on Friday, an increase of nearly 170% since Trump’s inauguration. TORN price appears poised for more near-term gains as Ethereum’s Vitalik Buterin issues statement calling for the release of Mixer Protocol co-founders.
TornadoCash posts 170% gain in first week of Trump’s presidency
TornadoCash (TORN) has emerged as one of the biggest beneficiaries of the Trump presidency as several bullish catalysts have driven its price to new highs this week.
Two major US regulatory moves have significantly impacted TORN’s remarkable upward trajectory.
First, in a landmark ruling, a US court reversed sanctions on TornadoCash that were initially imposed under the Biden administration over allegations that North Korean hackers used the cryptocurrency mixer for money laundering Was. This legal victory has revived market confidence in the protocol.
And adding momentum, President Trump issued an executive order pardoning Ross Ulbricht, founder of the notorious Silk Road dark web marketplace. This unprecedented move has rekindled enthusiasm among privacy-focused crypto advocates, increasing the appeal of TornadoCash.
Tornadocash (TORN) price action
These developments have significantly driven TORN’s price action. Since Trump’s inauguration, TORN has surged 167%, rising from $7.50 on Monday to $20 by the end of Friday.
This incredible rally outpaced other major gainers like Solana, Chainlink, and Tron (TRX), which recorded solid but comparatively modest double-digit gains over the same period.
Ethereum co-founder calls for release of TornadoCash founders
TornadoCash co-founders, Roman Storm and Alexey Pertsev, were detained in 2022 on charges of enabling money laundering through their decentralized protocol.
US authorities accused him of allegedly facilitating the laundering of more than $7 billion in cryptocurrencies, including funds linked to North Korean hackers.
The arrests sparked heated debate in the crypto community, with enthusiasts and privacy advocates criticizing the detentions as an overreach that could stifle innovation.
Vitalik Buterin calls for the release of TornadoCash co-founder, January 23, 2025, Source: X.com/VitalikButerin
Ethereum co-founder Vitalik Buterin recently reignited the conversation by calling for the release of Storm and Pertsev.
In a widely shared social media post, Buterin stressed the need to free these developers, declaring, “No one is left behind,” that he believes was unfairly targeted. Had gone.
Their call to action has sparked legal remedies for the creators of TornadoCash and global scrutiny of activist privacy coin markets.
Privacy Coins Zone Demo, January 24, 2025 | Source: Coingeco
Recent events, including Buterin’s statements, have increased demand for privacy-focused cryptocurrencies like Monero (XMR), TRON, and ZCASH.
Coingeco data shows a sharp increase in search interest for these assets within the last 24 hours, underscoring investors’ growing enthusiasm for privacy solutions.
The increasing attention on Tornadocash shows that TORN is gaining popularity among new market entrants.
Should its co-founders be released, the expanded customer base could stabilize TORN’s price, protecting it from sharp declines when market enthusiasm wanes.
TORN Price Prediction: Multi-day close above $20 to confirm next leg up?
TornadoCash (TORN) continues to show remarkable momentum, rising 169.69% in five days to trade near $20.13. Despite the rally, the chart highlights $21 as a key resistance level to confirm the next uptrend. A multi-day close above this range could lead to another rally towards $26.
The technical chart shows a decisive breakout above the 50-day (red) and 200-day (blue) moving averages, indicating bullish strength. Volume increased to 626,770, indicating increased market interest. The Parabolic SAR (blue dot) remains below the candles, reinforcing the uptrend.
TornadoCash (TORN) price prediction
Continued buying at current levels could push TORN above $21, paving the way for price targets at $26 and $30 that would align with the Fibonacci Extension.
However, failure to break and hold $21 could lead to profit-taking as the 169% surge could lead to overbought conditions. Volume is decreasing, indicating a potential lack of demand. If prices drop below the $18 support zone, TORN could fall back to $14, close to the 200-day simple moving average (SMA), weakening the recent bullish sentiment.
Growing interest in privacy coins supports the bullish narrative, but strategic traders wait for a confirmed breakout of $21 before entering new positions.
