Outside Source
Threshold has surged over 30% in the last week on the heels of optimism in the DeFi sector.
The Threshold token is up over 13% in 24 hour trading and over 30% in a week as optimism appears to be signalling a resurregence in the decentralized finance sector. The token is currently trading at $0.03385, rallying alongside an increase in the total value locked (TVL) in its Bitcoin (BTC) tokenizing protocol — tBTC.
As of press time, DeFiLlAma data indicates that tBTC has a TVL of nearly $61 million — 846% more than the $6.45 million it had locked in the protocol in early February 2023.
Positive signs that the protocol is seeing some good growth in its adoption and market share.
Threshold’s growth significantly outpaced the overall growth of the DeFi ecosystem, with the total TVL having grown from just $40 billion on Jan. 9, 2023 to $54.3 billion as of press time — totalling growth of just under 36%. Threshold’s price increase this week was also accompanied by a 24-hour trading volume increase from just $13.3 million to its current value $436.5 million — an increase of over 3,180%.
Threshold is both a DeFi ecosystem and decentralized autonomous organization with its own Solana-based tokenized Bitcoin (BTC) — Threshold BTC (tBTC) — and T staking, liquidity providing alongside services meant to power third-party decentralized applications (DApps). The threshold access control is the project’s end-to-end encrypted data sharing and communication protocol meant to enable secure communication with no centralized authority. The cryptographic services network was birthed from the merger of two pre-existing platforms, Keep and NuCypher, offering a suite of decentralized solutions across various sectors.
This article first appeared at crypto.news
