Guilty judgment sends torn price crashing by 15% – what is the following?

Guilty judgment sends torn price crashing by 15% – what is the following?

2 minutes, 17 seconds Read

Tl; Dr.

  • Tornado Cash Developer Roman Storm was found guilty of exploiting a money without a permit.
  • The torn price fell below $ 10 after the court’s decision and registered a loss of 24% for seven days.
  • Active addresses were on August 6 to 173, probably powered by wallet activity during market sales.

The court is guilty of Tornado Cash -developer

Roman Storm, a developer and co-founder of Tornado Cash, has been found guilty of running a money shipment without a permit. The verdict came from a federal jury in Manhattan on August 6, after four days of deliberations.

Meanwhile, the court reaches A decision about one crime. The jury did not reach an agreement on two other charges linked to money laundering and punishing violations. Storm now stands for a punishment that can be imprisoned up to five years.

Torn prize falls after the court ruling

In particular, the price of Tornado Cash (torn) fell by around 15% after the verdict. Toking traded at $ 10.3 on the press, with a 24-hour trade volume of around $ 1.7 million. It has lost almost 18% last week and around 24%.

For the decision, Analyst Papa Wheelie suggested The token could dive if there was a guilty judgment. He noted that although the disadvantage was probably in that case, he expected that the protocol itself would remain active and recover on time.

Indicators show a constant downward pressure

Price cards for the torn/USDT pair show a strong sale. The relative strength index (RSI) fell to 32 and approached over -selling circumstances. It also went under the signal line, which had been at 45.

Source: TradingView

Moreover, the MACD indicator is also negative. The line is located under the signal line and there are red rods in the histogram that are still increasing. Both indicators indicate active sale with no impending indications of reversal.

Activity on the network is increasing

The number of active addresses on the Tornado Cash Network rose sharply on August 6 and reached 173. This meant the highest level in the past month. It came when the price dropped below $ 10.

Glassnode-Studio_Torn number-of-Active addresses
Source: Glassnode

The largest part of July the count remained between 60 and 120 addresses. The peak in activity can be linked to users who move funds in response to the legal outcome. It probably reflects increased caution instead of a new question.

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