When we take a look at the crypto money market, we see that Bitcoin is priced at 22 thousand dollars with a minor correction. Leading altcoin Ethereum continues its sideways movement in the $1,500 region. When we look at the most profitable assets of the last 24 hours, we see Threshold. Threshold, which has gained 13.63% in the last 24 hours, has gained more than 130% in the last week.
What is Threshold?
Threshold is the result of an on-chain merger between Keep Network and NuCypher. You can think of the Threshold project as a way to keep your information and digital assets private while using the blockchain. In short, this network allows smart contracts to access and manage private encrypted data.
I just mentioned that Threshold emerged from the combination of two different decentralized networks. This allows Threshold to run NuCypher’s popular privacy tools while still having the technical infrastructure provided by Keep Network. The name of the project’s native cryptocurrency is T token. Yes, it’s just written with a T. This T token has gained over 130% in the past week.
Why Is Threshold Rising?
Seeing that the asset has gained so much value, crypto money investors naturally wondered the reason for the rise, and the explanation that satisfied their curiosity came from Coinbase. The popular crypto asset trading platform announced on its Twitter account that transfer transactions will open on January 25, 2023, today at 20:00. According to the platform’s statement, users who want to trade Threshold will be able to perform these transactions as of January 26, 2023 20:00 CET.
At the beginning of our article, when talking about what Threshold is, I stated that it consists of the combination of two different networks. According to Coinbase’s statement, the local assets of these two networks, NU and KEEP, will be disabled as of February 6, 2023.
Will Threshold Continue Its Rise?
This rise of the T coin may experience a significant correction after the Coinbase listing. However, Coinbase’s listing of Threshold is proof that the American crypto platform supports both the core NuCypher and Keep Network ideology. Listing this asset, which is growing its ecosystem day by day, on Coinbase may place it among the top altcoins to watch out for. This may lead the T coin to experience new rallies in the future.
Threshold Price Analysis
Threshold, which broke out from the descending resistance line on January 24, managed to rise to the level of $ 0.064. The asset, which has retraced after its correction, is currently located in the $ 0.053 region. If Threshold, which creates a long hanging wick, exceeds the resistance of $ 0.055 and $ 0.058, we can show the 12 cent region as the next target. However, if the asset fails to continue its rise and pulls back, the first level of support it will face is located in the $0.058 region. The asset, which cannot hold at this level, may decline below the $0.055 zone.