Nu Crypto: A Smart Investment Decision?

NuCypher (NU) is a decentralised encryption software that provides a security and privacy layer for public blockchains. It enables seamless data sharing between multiple participants using proxy re-encryption. As of August 2024, NU's price was $0.0639, and the currency has been in a downtrend for the past year. Some sources predict that NU is a bad long-term investment option, while others suggest that it could be a top 20 cryptocurrency.

NuCypher's current price

NuCypher (NU) is a decentralised encryption software that provides a security and privacy layer for public blockchains. It is designed to facilitate end-to-end encrypted data sharing on public blockchains and decentralised storage solutions.

The current price of NuCypher is $0.0761 per NU, with a 24-hour trading volume of $62.48. This represents a -1.50% price decline in the last 24 hours and a 14.50% price increase in the past 7 days. The highest price paid for NuCypher (NU) was BTC0.00004403, recorded on 15 October 2021. In USD, the all-time high of NuCypher is $2.35. The current market cap of NuCypher is $0.00.

The NU tokens are used to incentivise network participants to perform key management services and access delegation/revocation operations. They are also used to operate a NuCypher worker node and participate in the NuCypher DAO, a protocol that controls network parameters and smart contract upgrades.

The price of NuCypher is calculated in real-time by aggregating the latest data across 2 exchanges and 2 markets, using a global volume-weighted average formula.

The trading volume of NuCypher is $24.09 in the last 24 hours, representing a -98.30% decrease from the previous day and signalling a recent fall in market activity.

According to WalletInvestor, NU is a bad long-term (1-year) investment. Their analysis predicts that the price of NuCypher may drop from its current price of $0.0656 USD to $0.0365 USD.

NuCypher's price predictions

NuCypher (NU) is a token that powers the NuCypher network, which is a decentralised key management service (KMS) and privacy layer on top of the Ethereum blockchain.

As of 11 July 2024, the current price of NuCypher is 0.0656 USD. However, the price has been in a downtrend for the past year, and it is predicted that the price will continue to decline. According to WalletInvestor, NU is a bad long-term (1-year) investment option.

• WalletInvestor predicts that the NU price will continue to decline and may drop to 0.0365 USD.
• TradingBeast predicts that the NU price will go down to 0.06099 USD by December 2025.
• PricePrediction.net predicts that the NU price will grow to around 0.1926 USD in 2025.
• WalletInvestor and PricePrediction.net predict NU prices in the range of $0.01034–$0.1557 for 2026. TradingBeast takes a different view and cites the possibility of the price reaching $0.2022 in December 2026.
• For 2027, TradingBeast and WalletInvestor predict a further decline in NU prices, with TradingBeast forecasting a price drop to $0.05457 and WalletInvestor to $0.01094. PricePrediction.net also supports the idea of a decline, forecasting NU to fall to $0.02408 by December 2027.
• In terms of long-term predictions for 2030, TradingBeast and WalletInvestor expect NU prices to continue declining, with predictions of $0.1396 and $0.01203, respectively. However, PricePrediction.net remains positive, predicting growth up to $0.2696.

It is important to note that these predictions are based on technical analysis and market trends, but the cryptocurrency market is highly volatile and subject to sudden changes. Therefore, investors should always do their own research and carefully consider their risk tolerance before investing in any cryptocurrency.

NuCypher's market rank

NuCypher (NU) is a decentralised encryption software that provides a security and privacy layer for public blockchains. It allows users to share private data between multiple participants in public consensus networks, using proxy re-encryption (PRE) technology. NU is the native token of the NuCypher network and is used to incentivise network participants for performing key management services and accessing delegation/revocation operations. NU tokens are also used for staking to run a NuCypher worker node and to participate in the NuCypher DAO, which controls network parameters and smart contract upgrades.

As of 24 September 2024, the live NuCypher price is $0.079361 USD, with a 24-hour trading volume of $24.24 USD. The current CoinMarketCap ranking is #7447, with a live market cap of $0. The all-time high of NuCypher is $2.35. This was the highest price paid for NuCypher since its launch. The current circulating supply of NuCypher is 0 NU, with a maximum supply of 1,380,688,920 NU coins.

According to Wallet Investor, NU is a bad long-term (1-year) investment. Their analysis predicts that the price of NuCypher may drop from $0.0656 USD to $0.0365 USD, a change of -44.4020%. They also predict that NU will not hit $1, $5, or $10 USD within a year. However, it is important to note that due to the low market cap, NU price can be easily manipulated.

As per data obtained from the market in October 2021, the current value of NuCypher at $1.50 ranked it in the 93rd position in the crypto ecosystem.

NuCypher's utility

NuCypher (NU) is decentralised encryption software that provides a security and privacy layer for public blockchains. It allows for seamless, end-to-end encrypted data sharing between multiple participants without the need for a central service provider. This is achieved through Umbral proxy re-encryption (PRE), a type of public-key encryption (PKE) that enables proxy entities to transform or re-encrypt data from one public key to another, without ever accessing the underlying plaintext or private keys.

The NU token is an ERC-20 utility token with several functions. Firstly, it incentivizes network participants to perform key management services and access delegation/revocation operations. Secondly, NU tokens can be staked to run a NuCypher worker node, earning inflation rewards (in NU) and policy fees (in ETH). Staking, however, comes with the risk of slashing if the corresponding worker node misbehaves. Thirdly, NU tokens facilitate governance and participation in the NuCypher DAO, powered by Aragon.

The NuCypher protocol consists of two main components: Staker nodes and Worker nodes (Ursala). Staker nodes lock NU tokens into a "Staking Escrow" contract for a defined duration, generating two income streams: inflation rewards (in NU) and policy fees (in ETH). Worker nodes, on the other hand, perform threshold cryptography operations on behalf of Stakers, and they must remain online to provide uninterrupted on-demand services.

NuCypher's Threshold Access Control (TACo) is another critical aspect of its utility. TACo enables end-to-end encrypted data sharing and communication without the need for a centralized authority. This decentralized service ensures that no single entity can unilaterally deny service or decrypt private user data. As a community-driven project, NuCypher encourages outside contributions and actively engages with developers through its Discord server.

NuCypher's investment risk

NuCypher (NU) is a high-risk investment option. Its low market cap makes it susceptible to price manipulation, and its value is predicted to decrease in the long term.

According to WalletInvestor, NU is a bad long-term investment. Their AI cryptocurrency analyst predicts a negative trend in the future and recommends looking for other projects to build a portfolio. The current price of NuCypher is 0.0656 USD, and the price may drop to 0.0365 USD, a change of -44.4020%.

NuCypher's price predictions for 2024, 2025, 2026, 2027, 2028, and 2029 all indicate a negative trend. The NU currency has been in a bearish cycle for the last 12 months, and trading in bear markets is challenging for new investors.

While some commentators have noted that NuCypher is as important as ChainLINK, others have expressed disappointment with its performance. One user commented that they would never pay for the service again due to its inaccuracy.

In summary, investing in NuCypher comes with high risk. Its price is predicted to decrease, and it has been in a bearish cycle for the past year. Investors should carefully consider their risk tolerance and conduct thorough research before investing in NU.

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