Your watchlist and preferences stay in this browser.
- Open:
- $0.004674
- High:
- $0.004861
- Low:
- $0.004318
- Close:
- $0.004431
24H–1Y views may use Binance USDT futures candles; MAX and fallback history use CoinGecko. Futures prices can differ from spot prices.
USDT quotes are displayed using 1 USDT ≈ 1 USD. Other currencies use the current USD exchange rate for the entire history, not historical FX rates.
Candle times mark the opening time for Binance data and the closing time for CoinGecko data.
Market Stats
- Market Cap
- $49.44M
- 24h Volume (Binance futures)
- $1.99M
- All-Time High
- $0.2269
- CoinGecko · Updated:
- Circulating Supply
- 11.15B T
- CoinGecko · Updated:
- Market Cap Rank
- #433
Live Threshold price tracker — view T in USD, EUR & 20+ currencies. Includes 24h volume, circulating supply, and historical price charts.
Threshold Price Performance
Price changes in each quote currency. BTC, ETH and USDT comparisons use matching USD observations. Fees and investment income are excluded.
| Price pair | 1H | 24H | 7D | 14D | 30D | 1Y |
|---|---|---|---|---|---|---|
| T / USD | -0.46% | +0.30% | -4.64% | -3.41% | -15.39% | -64.37% |
| T / BTC | -0.44% | +0.26% | +4.17% | +4.69% | -4.89% | -50.15% |
| T / ETH | -0.35% | +0.91% | +12.75% | +8.65% | +2.56% | -40.54% |
| T / USDT | -0.45% | +0.30% | -4.60% | -3.42% | -15.38% | -64.35% |
A dash means reliable, sufficiently recent data is unavailable for that comparison.
T Spot Markets
Threshold prices across every T spot trading pair we track, with 24-hour volume.
| Pair | Exchange | Price | Volume | Exchange |
|---|---|---|---|---|
| T/USDT | Binance |
0.00446 USDT
≈ $0.004454
|
$120,920 | |
| T/USDT | OKX |
0.004466 USDT
≈ $0.004461
|
$6,357 | |
| T/USDT | KuCoin |
0.00447 USDT
≈ $0.004466
|
$5,930 | |
| T/USD | Kraken |
0.00445 USD
≈ $0.00445
|
$3,025 | Trade on Kraken |
| T/EUR | Kraken |
0.00406 EUR
≈ $0.004498
|
≈ $2,212 | Trade on Kraken |
| T/USDC | OKX |
0.004462 USDC
≈ $0.004467
|
$7 | |
| T/EUR | OKX |
0.004039 EUR
≈ $0.004488
|
— | |
| No results found. | ||||
Updated:
Ad · Digital asset prices are subject to high market risk and price volatility. Don't invest unless you're prepared to lose all the money you invest. Terms
This page contains affiliate links. We may earn a commission if you sign up, at no extra cost to you.
What is Threshold?
Threshold Network is a decentralized threshold cryptography protocol that provides a suite of privacy-preserving infrastructure and cryptographic tools for user sovereignty across multiple blockchains. It was created in early 2022 through the first-ever on-chain merger of two established protocols: Keep Network, founded by Matt Luongo in 2017 to build privacy layers for public blockchains, and NuCypher, founded by MacLane Wilkison and Michael Egorov in 2015 to deliver proxy re-encryption services.
The merger — ratified through parallel DAO votes by KEEP and NU holders — consolidated both communities, treasuries, and engineering teams under a single governance token, T, and launched the Threshold DAO in January 2022. The protocol is governed by T holders via the Threshold Council, with proposals executed through Boardroom and Snapshot. Its flagship product is tBTC v2, a permissionless, decentralized bridge that mints a 1:1 Bitcoin-backed ERC-20 on Ethereum using a randomly selected signer group of 100 stakers running threshold ECDSA — a significant architectural departure from custodial wrappers like wBTC.
Following the Ethereum Cancun upgrade, tBTC has expanded to Layer 2 networks including Arbitrum, Optimism, Base, Polygon, and Solana through cross-chain routers. The second core offering is TACo (Threshold Access Control), the successor to NuCypher's proxy re-encryption service, which lets developers build conditional decryption and private data-sharing features into dApps without trusting a central server.
Threshold has integrated with or been adopted by protocols including Curve Finance (where tBTC sits in major stable and crypto pools), Balancer, Aave (proposed collateral listings), Wormhole, and LayerZero. The ecosystem experienced notable moments including the 2023 sunset of tBTC v1 in favor of v2, community debate over staker rewards and inflation reductions through several governance proposals, and ongoing coordination with the Bitcoin community around decentralized BTC bridges as alternatives to custodial or federated designs.
The network continues to push forward as one of the few production-grade decentralized Bitcoin bridges, with tBTC total value locked fluctuating based on BTC market cycles and DeFi demand. Threshold competes in a narrow field alongside projects like tBTC's predecessors, Ren (defunct), and newer entrants in the BTCFi space. The T token captures value through staking — required for node operators who secure tBTC minting and TACo decryption — with slashing conditions for misbehavior.
The DAO treasury, which absorbed assets from both Keep and NuCypher, funds grants, liquidity incentives, and core development through the Threshold community. Development is led by multiple independent teams, including Thesis (the original builders of Keep) and NuCypher's engineering contributors, who operate under a federated structure rather than a single foundation.
Controversies have been modest but include community discussions about distribution fairness post-merger, where legacy KEEP and NU holders received T at fixed conversion ratios, and debates about emission schedules and staker APRs. Threshold represents one of the more technically ambitious experiments in combining multiple cryptographic primitives — threshold ECDSA, proxy re-encryption, and random beacon — into a single coordinated network, making it a distinctive player among privacy and interoperability protocols competing for developer mindshare in 2024 and beyond.
Key Features of Threshold
- Decentralized tBTC Bridge: Threshold powers tBTC v2, a permissionless Bitcoin-to-Ethereum bridge secured by a randomly selected group of 100 signers using threshold ECDSA. Unlike custodial wrappers, no single entity holds user BTC, making it one of the most trust-minimized Bitcoin bridges in production.
- TACo Access Control: Threshold Access Control (TACo) provides decentralized conditional decryption as a service, letting dApps enforce who can decrypt data based on on-chain or off-chain conditions. It's the evolution of NuCypher's proxy re-encryption and serves use cases from token-gated content to private messaging.
- Multi-Chain Deployment: tBTC has expanded beyond Ethereum mainnet to Arbitrum, Optimism, Base, Polygon, and Solana via native cross-chain routers. This broad deployment lets DeFi builders integrate decentralized BTC liquidity on the L2 or chain most relevant to their users.
- Staking-Based Security: T token holders stake to run nodes that secure both tBTC minting and TACo decryption services, earning rewards for honest participation. Misbehaving operators face slashing, creating strong economic alignment between stakers and protocol users.
- DAO-Governed Treasury: Threshold is governed by T holders through the Threshold DAO, which controls a substantial treasury inherited from both Keep and NuCypher. Proposals covering grants, emissions, protocol upgrades, and integrations are voted on via Snapshot and executed on-chain through the Threshold Council.
Threshold Use Cases
- Bringing Bitcoin to DeFi: Users lock native BTC to mint tBTC on Ethereum and Layer 2 networks, then deploy it as collateral in lending markets, liquidity in Curve and Balancer pools, or margin on perpetuals platforms. This unlocks yield opportunities for BTC holders without relying on a custodial issuer.
- Token-Gated Content Access: Creators and platforms use TACo to encrypt content off-chain and grant decryption access only to holders of specific tokens or NFTs. This enables subscription models, private communities, and exclusive media drops without trusting a centralized server with plaintext data.
- Private DeFi and dApp Logic: Developers integrate TACo to keep sensitive dApp data — such as order book intents, private credentials, or confidential metadata — encrypted until specific conditions are met. This allows for confidential features within otherwise transparent smart contract ecosystems.
- Node Operator Staking: Technically capable participants stake T and run node software to earn protocol rewards while securing tBTC signer groups and TACo decryption cohorts. Stakers can also delegate to professional operators if they prefer passive participation.
- DAO Governance Participation: T holders vote on Threshold Improvement Proposals covering treasury spending, emission schedules, tBTC parameters, chain expansions, and grant programs. Engaged governance participants help shape one of the more active privacy-focused DAOs in crypto.
Threshold Tokenomics
- Total Supply
- T has a dynamic supply following the merger of KEEP and NU, with total supply denominated in the billions. Emissions continue for staking rewards, so the circulating figure changes over time.
- Circulating
- Circulating supply reflects tokens distributed from the Keep and NuCypher conversions plus ongoing staking rewards, minus any DAO-held treasury allocations.
- Utility
- T is used for staking to secure tBTC and TACo, for governance voting in the Threshold DAO, and as the reward asset distributed to node operators. It also serves as the base asset in liquidity incentives for tBTC pairs across DEXs.
- Emission
- Emissions are controlled by DAO governance and have been adjusted through multiple proposals to balance staker rewards with long-term sustainability. Current rates depend on active staking participation and DAO-approved reward budgets — see the Threshold governance forum for the latest parameters.
Frequently Asked Questions
Can I stake T tokens?
Yes, T can be staked to secure the Threshold Network and earn rewards. You can either run your own node using Threshold's staking infrastructure or delegate to a professional operator through the official staking dashboard at dashboard.threshold.network. Staking involves lock-up periods and slashing risk if your node misbehaves.
What drives the value of Threshold (T), and what are its risks?
Threshold occupies a meaningful niche as one of the few decentralized Bitcoin bridges and a leading privacy infrastructure provider, which gives it real utility. However, T is a volatile altcoin subject to emissions, competition from other bridges, and broader crypto market cycles. Always do your own research and consider only capital you can afford to lose.
What determines the minimum spot order for T?
The minimum depends on the platform, trading pair and order type. Check both the minimum quantity of T and the minimum order value in the pair’s quote asset. The price of one coin is not the minimum purchase amount. Check current trading rules and fees, and confirm that the service is available to your account and location. Also check permitted quantity increments; minimum deposits and withdrawals are separate.
How is tBTC different from wBTC?
wBTC is issued by a centralized custodian (BitGo) that holds user BTC in custody and relies on a federation of merchants to mint. tBTC is minted by a permissionless, randomly selected group of 100 signers running threshold ECDSA, meaning no single entity can seize or censor user funds, making it a more trust-minimized alternative.
Where can I store T tokens safely?
T is an ERC-20 token and is supported by any Ethereum-compatible wallet, including MetaMask, Rabby, Ledger hardware wallets, and Trezor. For significant holdings, a hardware wallet combined with a non-custodial interface like MetaMask or Frame offers the strongest security posture.
What happened to KEEP and NU tokens?
Following the 2022 merger, KEEP and NU tokens were converted to T at fixed ratios determined by the DAO proposals that ratified the merger. Holders could (and in some cases still can) wrap legacy tokens into T through the official upgrade portal, and T became the sole governance and utility token of the combined network.
How do I participate in Threshold governance?
Hold T tokens in a compatible wallet and visit the Threshold governance forum and Snapshot space to read active proposals and cast votes. You can also stake T to gain additional governance weight on certain proposals and engage with the community on Discord, where most proposal drafting and debate happens before formal votes.
Risk Warning
Cryptocurrency prices are highly volatile and can change rapidly. The information on this site is provided for informational purposes only and does not constitute financial, investment, or trading advice.