Threshold (T) is seeing its price hit the roof today, soaring by 132% at the time of writing, according to data from CoinMarketCap. At the current growth pace, Threshold is changing hands at $0.05642, a massively bullish growth trend that has its undertone in a very promising announcement shared by the protocol.
The Threshold reawakening came from a recent tweet shared by Coinbase Assets highlighting the potential of the merger of the NyCypher (NU) protocol and Keep Network (KEEP) to form the Threshold protocol. While the merger was initiated back in 2021, Coinbase said it will be disabling support for NU and KEEP, while accepting deposits for T.
With the Coinbase deposit billed to open on Jan. 25, holders of the T token are notably on an accumulation spree in order to take advantage of the potential price surge that may be recorded on the coin when trading opens on Coinbase.
On Jan 25 2023, on or around 9am PT, we will be opening transfers for T on @Coinbase & @CoinbaseExch in the regions where trading is supported.— Coinbase Assets (@CoinbaseAssets) January 23, 2023
On Jan 26 2023, on or around 9am PT, trading for T is expected to begin.
Such price growth pre-listing on a major exchange like Coinbase is not a new occurrence, and as a highly volatile and relatively low-cap coin, massive price movements are somewhat inevitable for T.
Is T rising to fall
With the current growth rate of the T coin, chances are there might be a significant cooling off period post-Coinbase listing. Despite this growth, T still has a long way to go before it can retest its all-time high (ATH) price of $0.2245 attained about a year ago.
Irrespective of the current price action, the Coinbase listing of Threshold is evidence that the American trading platform is supportive of the core ideology of both the underlying NyCypher and Keep Network.
Following the Merge, Threshold has maintained its relevance as a network that provides and maintains a suite of cryptographic primitives for several dApps. The protocol's ecosystem is growing, and the Coinbase listing will place it on the map of top altcoins to watch out for.