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What is the circulation amount of Tornado Cash (TORN) coins?
As of [date], the circulating supply of TORN coins stands at approximately 36.6 million, indicating the availability of the majority of the 100 million total-supply TORN coins.
Dec 02, 2024 at 05:53 pm
What is the Circulation Amount of Tornado Cash (TORN) Coins?
Tornado Cash (TORN) is an Ethereum-based decentralized application that offers privacy-enhancing features for cryptocurrency transactions. It allows users to anonymize their transactions by mixing them with other transactions in a large pool. This makes it difficult for observers to track the origin or destination of funds.
Circulation Amount of TORN Coins
As of [date], the circulating supply of TORN coins is approximately 36.6 million. The total supply of TORN coins is capped at 100 million.
Steps to Calculate the Circulation Amount of TORN Coins:
- Obtain the total supply of TORN coins: This information can be found on the Ethereum blockchain or on TORN's official website.
- Subtract the amount of TORN coins that are locked in the Tornado Cash smart contract: The locked TORN coins represent the reserve that is used to facilitate mixing transactions.
- Subtract the amount of TORN coins that are held in the Treasury: The Treasury holds a portion of the TORN supply for funding development and other expenses.
- Add the amount of TORN coins that are held by exchanges: Exchanges hold TORN coins to facilitate trading.
- Add the amount of TORN coins that are held by wallets: Private wallets hold the majority of the TORN supply. These wallets include those of individual users, investors, and custodians.
Importance of the Circulation Amount
The circulation amount of TORN coins is an important metric for several reasons:
- Market capitalization: The circulation amount is used to calculate the market capitalization of TORN, which is the total value of all circulating coins.
- Liquidity: The circulation amount affects the liquidity of TORN on exchanges. A higher circulation amount typically indicates higher liquidity.
- Scarcity: The limited supply of TORN coins makes it a scarce asset, which can contribute to its value.
- Staking rewards: A portion of the TORN supply is used for staking rewards, which incentivizes users to participate in the network.
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