Tornado Cash’s privacy pool USD value surpasses $13M, hitting a new high
The USD value of Ethereum-based mixer Tornado Cash’s privacy pool has logged an all-time high, peaking at over $13 million on November 11, according to data compiled by The Block.
The non-custodial privacy service has experienced a nearly 7,700% growth increase year-to-date, from $174,000 to $13.44 million.
Tornado Cash has been active since August 2019 and has four different types of mixer contracts supporting ETH, DAI, cDAI and USDC. The service is used to protect a user’s identity by shielding the link between their withdrawal address and the one they used to deposit their assets.
Each mixer contract allows Tornado Cash users to choose between one of four fixed amounts. For example, for ETH, users can pick between 0.1 ETH, 1 ETH, 10 ETH or 100 ETH.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Saniya More
