Nucypher Coin: A Smart Investment Decision?

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 a certain number of people in networks, using proxy re-encryption technology (PRE). NuCypher's price has been volatile, with a sharp rise in value in 2021, followed by a drop. As of July 2024, NU is considered a bad long-term investment option, with a negative outlook predicted. However, some sources consider it a great investment due to its potential, low circulating supply, and small market value.

Nucypher's price history and future predictions

NuCypher is a decentralised encryption software that provides a security and privacy layer for public blockchains. It allows users to share private data between a certain number of people in networks, using proxy re-encryption technology (PRE).

In October 2021, NuCypher's price hit an all-time high of $3.48, a spike of more than 1,115%. This surge came after it was launched on the Korean crypto exchange site Upbit. However, this spike was short-lived, and the price soon dropped to $1.43. Another price spike occurred on November 13, 2021, when the price reached $1.34, but again, the price quickly dropped, this time to $1.11. As of January 7, 2022, the NuCypher price was $0.66, with a market cap of $465.4 million and a circulating supply of $703.0 million.

According to WalletInvestor, NuCypher is predicted to be a bad long-term (1-year) investment. They predict that the price of NuCypher may drop from 0.0656 USD to 0.0365 USD, a change of -44.4020%. They also predict that NuCypher will not surpass Bitcoin in value in the near future. Their analysis also suggests that NuCypher may crash and that it is not a profitable investment. However, it is important to note that NuCypher has a low market cap, and its price can be easily manipulated.

Despite the negative predictions from WalletInvestor, some sources consider NuCypher to be a great investment due to its potential, low circulating supply, and small market value. The internet is moving towards a decentralised era, which means that platforms like NuCypher will be more in demand. Additionally, NuCypher's merger with Keep crypto has created excitement in the crypto community, as blockchain mergers are rare.

Nucypher's market cap and supply

NuCypher (NU) is a decentralised encryption, access control, and key management system (KMS) 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 NU tokens are native to the NuCypher network and are used to incentivise network participants to perform key management services and access delegation/revocation operations. They 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.

At the time of NuCypher's mainnet launch in October 2020, there was a total supply of 1 billion NU tokens. According to the release schedule, 3,335,938 and 4,460,000 NU tokens are released monthly to the SAFT Series 2 and Team/Equity investors, respectively. The WorkLock, NuCypher's network node setup mechanism, is expected to receive 225,000,000 NU tokens in April 2021. As of October 2021, there were 1,088,876,961 NU tokens issued, with 392,750,000 in circulation. The network has a max supply of ~3.89 billion NU tokens, which are released monthly as rewards to stakers.

The current circulating supply of NuCypher is 0 NU, which means that the current market cap is $0.00. The all-time high of NuCypher was $2.35, and the 24-hour trading volume is $62.48. The price of NuCypher has been on the rise, with a 3.65% increase in the last 24 hours.

Nucypher's use case

NuCypher (NU) is decentralised encryption software that provides a security and privacy layer for public blockchains. It allows users to share private data between a certain number of people in networks using proxy re-encryption technology (PRE). This makes it more secure than traditional blockchain projects.

The NuCypher network was launched in October 2021. Since then, thousands of stakers and dozens of dapp developers have discovered threshold cryptography. NuCypher's decentralised threshold cryptography network offers the ability to grant or revoke access to data across public networks. Users in the NuCypher ecosystem are incentivised to carry out key management services by distributing NU tokens, the native token used in the NuCypher ecosystem.

The price of NuCypher has been volatile. In October 2021, the price hit an all-time high of $3.48 after it launched on a Korean crypto exchange site, Upbit. However, this spike was short-lived, and the price soon dropped to $1.43. Another price spike occurred in November 2021, but this was also short-lived, with the price dropping immediately after. As of January 2022, the NuCypher price is $0.66, with a market cap of $465.4 million and a circulating supply of $703.0 million.

Nucypher's merger with Keep

NuCypher (NU) is decentralised encryption software that provides a security and privacy layer for public blockchains. It allows for seamless data sharing between multiple participants using proxy re-encryption.

In March 2022, NuCypher (NU) and Keep Network (KEEP) were merged into the Threshold Network Token (T). This merger resulted in the creation of a new token, T, which is available for deposits and withdrawals. Users can use the convert function to swap their NU and KEEP tokens for the new T tokens. The conversion rate is approximately 1 NU = 3.5 T, and 1 KEEP = 4.5 T.

The merger of NuCypher and Keep Network has created an upgraded platform, Threshold, which combines the features of both networks. The conversion rate will remain valid indefinitely, and users can convert their tokens at any time. It is important to note that exchanges are not required to close down trading of NU and KEEP, so these coins can continue to be traded independently of the new T token.

Following the merger, there will be three coins: NU, KEEP, and T. The price relationship between these coins is not yet clear, but it is likely that their prices will be relative to each other. The development of the new T platform may impact the value of the old platforms, NU and KEEP.

To summarise, the merger of NuCypher and Keep Network has resulted in the creation of a new token, T, and users can swap their existing NU and KEEP tokens for the new T tokens. The conversion rate favours KEEP, as 1 KEEP = 4.5 T, while 1 NU = 3.5 T. The price dynamics of the three coins post-merger remain to be seen, but it is expected that their values will be interconnected.

Nucypher's potential risks and rewards

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 a certain number of people in networks, using proxy re-encryption technology (PRE), making it more secure than traditional blockchain projects.

One of the main potential rewards of investing in NuCypher is its innovative technology and use case. The ability to grant or revoke access to data across public networks is a compelling proposition, particularly for those who require secure data sharing, such as spies and secret agents. This unique offering has the potential to attract a dedicated user base and drive up the value of the NU token.

Another potential reward is the low circulating supply and small market value of NuCypher's assets. This could make it more attractive to investors looking for opportunities in cryptocurrencies with a higher potential for growth. Additionally, the internet is moving towards a decentralised era, which could increase the demand for platforms like NuCypher.

However, there are also potential risks to consider before investing in NuCypher. The cryptocurrency market is highly volatile, and the value of NU can fluctuate significantly in a short period. For example, after hitting an all-time high of $3.48 following its launch on a Korean crypto exchange site, the price soon dropped to $1.43. This level of volatility can make it challenging to predict the future value of NU and may not be suitable for risk-averse investors.

Another potential risk is the low market cap of NU, which can make its price more susceptible to manipulation. As a result, investors should exercise caution and conduct thorough research before deciding to invest.

Lastly, while the merger between NuCypher and Keep crypto created a lot of excitement and attracted many investors, there is a risk that any negative news or concerns surrounding the merger could cause the value of NU to drop rapidly. Therefore, investors should carefully consider the potential risks and rewards before deciding whether to invest in NuCypher.

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