Top Altcoins to Watch: Tornado Cash, THENA, Cardano

• Cardano’s active addresses hit 94K, boosted by the Chang hardfork, Ripple partnership, and Cardano Constitution.
• Tornado Cash gained 397% after a landmark legal victory against OFAC, boosting confidence in crypto mixers.
• THENA’s Binance listing drives its price up 1667%, with market cap soaring from $50M to $300M in one day.

With the cryptocurrency market witnessing significant price surges recently, have gained attention for unique reasons: Tornado Cash (TORN), THENA (THE), and Cardano (ADA). While Bitcoin (BTC) briefly reclaimed the $97,000 price level on Wednesday, these altcoins stood out with substantial gains.

Cardano (ADA) Gains Momentum With New Users

Cardano (ADA) climbed above $1, a milestone, despite being 67.42% below its all-time high of $3.10. After years of lackluster performance, ADA has entered a bullish phase, recently achieving two-year highs. 

Data from IntoTheBlock reveals a 65% profit rate among Cardano wallets, reflecting growing interest from market participants. Additionally, Santiment reported that Cardano’s daily active addresses surged to 94,000 in November 2023, marking a sharp rise in adoption.

Read also: Layer-1 Altcoins Defy Bitcoin Dip: AVAX, DOT, FTM Surge

Cardano’s advancements go beyond price performance. The network is collaborating with Ripple, implementing the Chang hard fork, and introducing the Cardano Constitution. Charles Hoskinson, Cardano’s founder, outlined plans to transition the blockchain into a multi-chain protocol and integrate Real-World Assets (RWA), positioning the platform as a leader in blockchain innovation.

Tornado Cash (TORN) Secures Legal Victory, Boosting Rally

Tornado Cash (TORN) surged 397.39% over the past seven days, trading at $17.19 despite a 10.91% drop in the last 24 hours. The U.S. Treasury’s OFAC was ruled to have exceeded its authority in sanctioning Tornado Cash, marking a landmark legal win. This decision has rejuvenated confidence in crypto mixers and the broader digital asset market, setting the stage for TORN’s continued rally.

THENA (THE) Soars After Binance Listing

THENA (THE) skyrocketed 149.43% in the past day, trading at $3.25—a 1667.97% weekly gain and 1199.67% rise over the last 30 days. The surge followed its listing on Binance, the largest cryptocurrency exchange by volume. 

THENA’s market cap soared from $50 million to $300 million on November 26, 2024, highlighting the influence a major exchange listing can have on a token’s performance. However, analysts point out that the price surge is driven more by speculation than by the token’s actual value.