NuCypher (NU) is a token powering NuCypher network — a decentralized key management service (KMS). NuCypher works as a privacy layer on top of the Ethereum blockchain, providing additional encryption options to the data being exchanged on blockchain-based Dapps and facilitating key management operations.
NuCypher was founded in 2015 as an encryption service protecting the data being moved or stored on the cloud. The product has quickly found its customers in industries highly sensitive to information safety, like healthcare and banking. As the service continued to prove its value, the founders decided to expand into the blockchain space. After several rounds of testing, in October 2020 NuCypher launched its mainnet.
NuCypher doesn’t offer its services to the end users, focusing on serving blockchains themselves instead. The service description involves a lot of highly technical details mostly irrelevant to the ordinary users, but the founders are hoping that in time NuCypher will become a security protocol of choice for Dapp developers.
NuCypher token is used for staking by node providers and for governance purposes. Note that in June 2021, the community voted to merge infrastructure with another crypto security project, Keep. This union is called KEaNU, but the principal products will stay separate. The merger is going to take place by the end of the summer of 2021, with the new token — T — issued to NuCypher and Keep holders.
NuCypher initially started trading at ~$0.2 upon its release in October 2020. Its price then dropped down to $0.06-$0.07 but didn’t stay there long, as the token’s Coinbase listing in December pushed it as high as $0.3. Then, after experiencing a lull, NuCypher had joined the crypto market bull run, hitting an all-time high of $1.13 on February 21, 2021. The price has been slowly but steadily climbing down since then, reaching about ~$0.2 by late June. This decline was probably caused by a combination of the general market downturn and the news of the coming merger with Keep, which introduced a great deal of uncertainty into the future of the NuCypher token. But many of the more optimistic investors still have faith in the project, pointing out that NuCypher is a young project with solid fundamentals and a lot of potential.
Despite the fact that 100% accurate technical analysis for NuCypher cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated NU buy-and-sell rating for selected timeframe. The summary for NU/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
Below we have collected the most reliable price projections for NuCypher (NU) from popular forecast platforms.
According to WalletInvestor, NuCypher price will grow from $0.2423 to $0.695 in one year. That makes NU an awesome investment. The long-term earning potential is 186.83%. Predicted price for the end of 2026 is $2.507.
In DigitalCoin analysis, the price of NuCypher cryptocurrency will rise in the next 5 years starting from $0.240014 as of today’s price to $0.9177613. It will go up to $0.4011289 by 2022 and continue its growth in 2023–2024. Based on this forecast, NuCypher is a profitable long-term investment.
As it can be clear from the analysis cited above, NuCypher (NU) projections are rather contradictory. There is no universal consensus either about positive or negative future NU price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the NuCypher projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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