Threshold (T) Rallies 11% Even As Bitcoin, Ethereum Shed Gains

Threshold (CRYPTO: T) shot up 11.45% to $0.053 on Tuesday evening even as the rally in Bitcoin BTC/USD and Ethereum ETH/USD lost momentum.

What Happened: The utility token of the project that came into being due to the on-chain merger of NuCypher and Keep Network in January 2022 has shot up 137.50% over a seven-day period.

The Threshold Network has been attracting buzz around the tBTC v2 Project, which functions as a decentralized and trustless bridge between Bitcoin and Ethereum.

Why It Matters: On Monday, Threshold’s T coin shot up over 90% after Coinbase Global Inc COIN announced a roadmap for the listing of the Ethereum-based digital asset.

The roadmap doesn’t guarantee a listing as T coin must first pass the platform’s review process, according to a prior report.

Even so, the price momentum in T Coin has remained intact, even as Bitcoin dropped 1.6% to $22,621.07 and Ethereum by 4.8% to $1,552.25 at the time of writing.