- At the time of writing, the Threshold token was trading at USD 0.05049.
- The price has increased fivefold in the past seven days.
- Most of the token’s price gains were registered yesterday after gaining more than 95% in hours.
Threshold (T) is currently the most trending cryptocurrency according to Coinmarketcap data. The price of T is up 130% in the last 7 days and 220% in the last 30 days.
Interestingly, most of the price increase was registered yesterday after the coin suddenly surged by more than 95%, pushing it from around $0.032 to a high of $0.061 in a matter of hours. Although it has pulled back slightly from yesterday’s high, it is still in the green and has recovered about 20% today.
This is why the Threshold price rose yesterday
A majority of crypto investors were taken by surprise by yesterday’s Threshold price rally, but this is the main reason behind the price increase.
On January 23, Coinbase announced its roadmap for listing the T-coin, sparking a small price move for the remainder of the day. The token then continued its bullish trend the next day, this time with more force, as traders speculated that Threshold could soon be listed on the Coinbase exchange.
Assets added to the roadmap today: Threshold (T) https://t.co/rRB9d3hSr2
— Coinbase Assets (@CoinbaseAssets) January 23, 2023
Coinbase’s move to announce its roadmap for listing the token was intended to increase transparency and also reduce the likelihood of insiders gaining an unfair advantage using the listing announcement. However, it is important to note that adding a token to Coinbase’s roadmap does not necessarily mean that Coinbase will list the token. The token still needs to pass Coinbase’s review process to be listed.
Nevertheless, even though Threshold is a small-cap altcoin built on the Ethereum network, the news of reaching the Coinbase roadmap has certainly caught the attention of many investors. Threshold Network is creating a site of cryptographic solutions focused on blockchain user sovereignty and their first product is the tBTC, a decentralized Bitcoin bridge. tBTC allows BTC holders to transfer their BTC to the Ethereum network and use it as an Ethereum-linked token.