Tornado Cash (TORN) price

Tornado Cash (TORN) is the governance token of a privacy protocol on Ethereum. The protocol is a set of smart contracts that break the visible link between a sender's address and a recipient's address: a user deposits funds into a shared pool and later withdraws them to a different address. The token falls under the Privacy and DAO categories and is meant for people who want a say in how the project develops.

TORN is a token on Ethereum, not the coin of its own blockchain. It gives voting rights in the DAO: holders decide how protocol parameters change and how treasury funds are spent. The token also plays a part in the service's own economy, for example in participant incentives. The main difference from its neighbours in the category is that control sits with the community, and the protocol runs as public code with no single operator.

Total supply is about 10 million TORN, and according to CoinMarketCap roughly 5.26 million circulate, about half. A maximum supply is not stated in the data. The remaining ≈4.7 million have not yet entered circulation, so their gradual arrival on the market is worth keeping in mind as a possible source of selling pressure.

What to watch and the risks: the token is tied to a single product and to Ethereum, so interest in it depends on demand for on-chain privacy. Anonymisation tools get close attention from regulators, and rules can change quickly across jurisdictions. On the market side, daily turnover is small relative to the number of trading pairs, so liquidity may be thin. It is also worth following DAO votes and developer activity in the repository. This is reference information, not investment advice.