What is the current price of Threshold?
The current price of Threshold is $0.004848 with a 1.27% change in the last 24 hours.
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Prices and notionals are USD-equivalent venue units, with USDC collateral. No currency conversion is applied. Notional = venue price × base-asset size. Contract specifications
Derivatives and mapped ecosystem data, with source timings and coverage.
Threshold is a network of independent node operators that uses threshold cryptography to custody Bitcoin without any single party controlling it. Its flagship product is tBTC, a Bitcoin-backed token that can move into decentralized finance and back to native BTC without an intermediary holding an IOU. T is the ERC-20 token that governs the network and accrues value from it, deployed on Ethereum at 0xCdF7028ceAB81fA0C6971208e83fa7872994beE5.
The core claim is narrow and testable. Instead of one custodian holding deposited Bitcoin, control of each deposit wallet is split across a randomly selected group of operators, and a threshold majority must cooperate before any Bitcoin can move.
Official sources:
Threshold does not have a conventional founding team, because it was not founded in the usual sense. It was created by merging two existing projects, Keep Network and NuCypher, in what was the first on-chain merger of two decentralized autonomous organizations. Both communities voted, and the combined network launched with the T token in early 2022.
The merger converted the two legacy tokens by total supply rather than by price, which worked out to roughly 3.26 T per NU and roughly 4.78 T per KEEP. The DAO set an initial supply of 10 billion T, split as 4.5 billion to NU holders, 4.5 billion to KEEP holders and 1 billion to the Threshold DAO treasury. A further 1.155 billion T was minted during an inflationary bootstrapping phase to pay stakers and node operators, bringing the total to 11,155,000,000 T. That bootstrapping phase has ended, and no further T is issued.
Since February 2025, following the approval of governance proposals TIP-098 and TIP-100, operations, development and growth have been handled by Threshold Labs, led by MacLane Wilkison and Callan Sarre. Worth noting for anyone reading older material: the threshold access control work inherited from NuCypher is no longer the center of the roadmap, which is focused on tBTC and Bitcoin in decentralized finance. Check the official documentation for live product scope rather than relying on legacy articles.
tBTC is the mechanism most people will interact with:
A user deposits BTC to a wallet the network controls The deposit address belongs to a Threshold wallet, not to a company.
That wallet's keys never exist in one place Signatures are produced using threshold ECDSA. Each wallet is controlled by 100 signers, and 51 of them must cooperate to sign. No operator ever holds a complete key.
Signers are chosen randomly and rotated Operators are selected through a Sortition Pool, with randomness supplied by a Random Beacon. New wallets are created on a governance-set schedule, currently every 14 days, so no fixed group holds custody indefinitely.
tBTC is minted against the deposit, and can be redeemed back Redemption returns native BTC, which is what keeps tBTC anchored to Bitcoin rather than to a promise from an issuer.
Minting and redemption each carry a protocol fee of 20 basis points. The mint fee was originally offset to encourage adoption and was reinstated in April 2026.
T has two clear functions.
Governance is the first. T holders vote on proposals covering product priorities, fee parameters and treasury allocation. Voting power can be self-delegated or delegated to someone else, which requires an on-chain transaction.
Fee capture is the second. Since the start of 2026, staking T earns fee waivers and rebates on tBTC minting and redemption. Those rebates come from real protocol activity rather than from new token emissions, which is a meaningful distinction. Staking T is optional and is not required to mint, redeem or use tBTC, and whether it is worthwhile depends on how much bridge activity a holder expects to generate.
The combination of a 51-of-100 signing threshold with biweekly operator rotation is unusual. Most Bitcoin-backed tokens rely either on a named custodian or on a smaller multisig with fixed membership. Rotating the signer set on a schedule means an attacker cannot slowly compromise a static group, and the honest-majority assumption can be quantified rather than assumed.
The second distinguishing trait is redeemability. tBTC has a direct, verifiable path back to native Bitcoin through the same protocol that issued it, which is what separates a bridge from a wrapper backed by an off-chain balance sheet.
Custody security rests on the honest-majority assumption of each wallet's signer group. Because operators are drawn randomly from the pool and the group is replaced roughly every two weeks, the probability of any single wallet being controlled by a colluding majority can be calculated rather than guessed. Signing uses threshold ECDSA, so a complete private key is never assembled on any machine.
Governance security is layered. A proposal needs forum discussion, then an off-chain temperature check, then on-chain submission by an address holding at least 0.25 percent of total T supply. Voting runs for 10 days and requires a quorum of at least 1.5 percent of total supply, and Governor Bravo adds a two-day timelock before execution. Late quorum protection extends the deadline by two days if quorum is only reached near the end, and the elected Committee can veto a dangerous proposal that passes. Committee multisigs operate on a 6-of-9 signature policy.
Bitcoin holds an enormous share of total crypto value and almost none of it is natively programmable. Every attempt to change that runs into the same question: who holds the Bitcoin while the token circulates. Threshold matters because it gives a concrete, auditable answer that is neither a company nor a small fixed multisig, and because it kept a verifiable redemption path to native BTC instead of settling for an off-chain reserve attestation. It is also one of the few examples of two independent token communities merging into one network by on-chain vote, a governance precedent as much as a technical one.
T trades on major centralized exchanges and on decentralized exchanges including Uniswap, Curve and Balancer. Availability and pairs vary by jurisdiction, and T is deployed on Ethereum, Base, Optimism and Solana, so confirm the network before transferring.
T is commonly available on:
Pairs such as T/USDT and T/USD are typical where supported.
Always confirm the network and contract address before a deposit or withdrawal, since T exists on several chains.
Compare T with other Bitcoin-linked and infrastructure assets on Coinrithm:
Track Threshold live price, chart, market cap, and volume in real time. Practice mock trading and demo trading for Threshold on CoinRithm before using real money.
Use a crypto paper trading account to demo trade Threshold with real-time prices, AI trade feedback, and trading leagues. Test strategies, learn risk management, and build confidence before trading Threshold with real money.
Read the complete paper trading guideThe current price of Threshold is $0.004848 with a 1.27% change in the last 24 hours.
The daily trading volume is $106,989 representing a 6.64% change in the past 24 hours.
The market capitalization of Threshold is $54,076,262, ranking #286 globally.
The fully diluted valuation (FDV) of Threshold is $54,076,262, calculated assuming the total supply of 11,155,000,000 T is in circulation.
Circulating: 11,155,000,000. Total: 11,155,000,000. Max: N/A.
In the last 24 hours, Threshold traded between a low of $0.004682 and a high of $0.004887.
T/USDTTether USDT0.004848 USDT
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