Tornado Cash Monthly Users Fall by Over 50% Post-US Sanctions
Tornado Cash is experiencing a significant drop in activity following the sanctions by the U.S. Treasury. The number of unique users and weekly deposits and withdrawals have both fallen. Tornado Cash is taking a tumble in terms of activity as a result of the sanctions imposed by the United States Treasury.
The sanctions have effectively taken Tornado Cash from all-time highs in terms of unique users to what could be lows that could be permanent. Monthly users have also fallen by over 50%, from over 2,600 in July to under 1,300 the month after. That represents a 52% drop in users. The weekly deposits and withdrawals have also taken a significant hit, to the point where they are less than a tenth of what they were in the early parts of the year. In the last week of September, weekly deposits and withdrawals amounted to $3.6 million and $5 million, respectively.
Source
https://t.me/CryptoMarketUpdates
