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With the 700% jump in the last year, NuCypher (NU) coin reflects the support of investors with a strong bullish sentiment.
NuCypher Network is a fresh breath within the crypto industry. Due to innovative protocol dynamics, fully homomorphic encryption, developer focus, and a decentralized Key Management System (KMS) that allows for little competition with other projects.
NuCypher appears poised to play an essential role in the rise of blockchain technology in data security systems. In summary, it is a project with a solid foundation for the upcoming bull markets and beyond.
The security, immutability, transparency, and privacy of blockchain are cutting-edge technologies. As a result, they are helpful in a variety of industries including real estate, sports, and insurance. It also applies to music, art, fashion, and other industries.
What Is NuCypher?
NuCypher token (NU), a blockchain-based cryptographic framework, secures computation, privacy-preserving applications, and dynamic control access. It also allows users to manage a wide range of computational secrets like identity and access management tokens and database and secure shell (SSH) credentials that allow remote access to servers.
NuCypher offers the ability to grant and revoke access for any number of recipients. In addition, users can process encrypted data, which preserves the confidentiality and integrity of transaction inputs and computational results.
The NuCypher Network also provides an intuitive platform that allows extensible runtimes and interfaces to manage secret management dynamically.
NuCypher Features
The NuCypher network has a wide range of privacy-preserving technology solutions that are useful for different purposes across different applications.
NuCypher Hadoop
NuCypher Hadoop gives security professionals unique capabilities to share data and secure it in a "data lake." Thus, Hadoop stands as "High-Performance Access Management, Data Protection."
Additionally, the NuCypher Hadoop encrypted management and delegated access control system is a highly scalable and enterprise-ready encryption solution. This design helps secure data sharing for governance, residency, and other requirements globally.
Umbral Proxy Re-Encryption (PRE)
Umbral (NuCypher's Proxy Re-Encryption) provides cryptographic access controls to distributed protocols and other applications. Proxy-re-encryption, a form of public-key encryption (PKE), allows proxy entities to alter and re-encrypt data using public keys.
Fully Homomorphic Cryptography (FHE)
Fully Homomorphic Encryption, also known as FHE, is a type that allows for secure and arbitrary computations with encrypted data. Any encrypted data can be quickly processed without having to decrypt it beforehand. Furthermore, operations on encrypted data can be performed as though they were being done on the relevant plaintext information.
Secret Management
NuCypher secrets management manages dynamic environments and structural secrets. It allows users to store encrypted secrets on any backend. It includes S3, InterPlanetary File System (IPFS), as well as Swarm. In addition, NuCypher secrets Management allows users conditionally to revoke and allow access to these secrets.
NuCypher Staking
The WorkLock is an Ethereum-based Proof-of-Stake (PoS) distribution system that coordinates worker Nodes within the NuCypher Network. For 353,913 NU tokens staked, it takes at least 2,000 operators. The WorkLock automatically stakes NuCypher and pays out rewards every 30 days unless a node chooses to opt-out. However, the WorkLock doesn't guarantee greater returns on NU tokens staked for more than a year.
NuCypher DAO
The NuCypher autonomous decentralized organization (DAO) offers a public forum that includes several categories. These include news, announcements, proposals for real viable protocol upgrades, research, discussion. Also, an “uncategorized” section for all things related to NuCypher.
The NuCypher DAO Forum is where you can share ideas and suggestions for protocol enhancements and improvements. NuCypher is seeking innovative development ideas to improve economic stability and the health of its network and security and service quality.
NuCypher (NU) Token: Price Analysis
Flashback: The Fundamental Analysis of NU Token
Today's current price of one NuCypher coin is $1.31, with a 24-hour trading volume of $719 million. The NU coin price has fallen 10.85% over the past 24 hours.
Currently ranks at #106 on CoinMarketCap with a market cap of $898M, NuCypher has a total circulating supply of 687.5 million NU coins and a maximum of 3.88 Billion.
Technical Analysis of NuCypher (NU)
Source - https://www.tradingview.com/x/xWV7Mz1w/
As per the daily chart, NU coin price created a new-all time high of $3.58 with a 400% jump on 15th October. After that, however, the price pulls back to the $1.14 mark. Thus, the pullback insinuates that the price may soon retest the previous peak near $1.
In the past week, the NU coin price projected exceptional bullish growth. For example, on 1st January 2021, the NU coin price was trading at near $0.16. And, as of printing time, the coin price is trading at $1.31. Thus, resulting in a humongous growth of 700%.
Hence, due to the strong past performance and solid fundamentals, we can observe immense growth in the future for NuCypher cryptocurrency.
Into The Block
As per Into The Block, the short-term sentiment for the NuCypher coin is neutral. The fall in large transactions and the money addresses indicate bearishness. However, the jump in Net Network Growth and Bid to Ask Volume spread provide bullishness.
CoinMarketCap
The number of addresses holding the NU token increased dramatically over the past few months. From less than 9.75K holding addresses in July to more than 10.75K addresses.
NuCypher (NU) Price Prediction 2021
Upon successful retest of $1 level, we can observe a growth till $1.5 or even $1.8 mark by December 2021.
NuCypher (NU) Price Prediction 2022
As the merger of Keep and NuCypher approaches, the coin price of NU will also increase. Thus, it is possible that the price can hit the $2.55 mark by September 2022.
NuCypher (NU) Price Prediction 2023
In 2023, NU prices can see exponential growth as the platform increases its hype. Hence, the coin price can be $4 or even $4.40 by December 2023.
NuCypher (NU) Price Prediction 2024
By 2024, we can witness a massive surge in its value by the end as the platform becomes more and more mainstream among various businesses. This token can be invested at any time that suits your budget. The price of the token will reach $6 this year.
NuCypher (NU) Price Prediction 2025
NU coin has considerable potential and could dominate a significant part of the crypto market. Therefore, by 2025, NU coin prices could reach $8 or even higher.
NuCypher (NU) Price Prediction: Market Sentiment
The price analysis of NU coin by various media outlets is listed in the section below-
Digital Coin Price
Digital Coin Price predicts that the NuCypher price will have a bullish future. NU coin prices will reach $4 by the end of 2025. And by 2028, a single NU token can have a value equivalent to $6.
Gov Capital
As per Gov Capital, the NU coin price will approximately hit the high of $3 by the end of 2022. Furthermore, the upcoming years can be highly bullish, as predicted by the Gov Capital. It estimates the NU coin to reach the $9 mark by December 2025.
Coin Arbitrage Bot
In the next three years, the NuCypher price could reach $6.78073, and the lowest Nucypher price could be $0.65077. According to Coin Arbitrage Bot's predictions, at the end of 2023, the NuCypher price can reach $1.87418, and by 2024 it could easily reach $3.03242.
Coins Kid
Coins Kid predicts NU coin price can reach $3 by November 2022. And by September 2025, the bull run will help the coin price reach $18.
Our NuCypher (NU) Price Prediction
NuCypher is a privacy-focused blockchain that helps other blockchains work smoothly. It can conditionally grant or revoke access on the network to sensitive data. It is a vital security option that could make it viable for companies that value this aspect.
This crypto is also worth considering because of its low circulating supply. NuCypher currently has 687.5 Million coins in circulation and a maximum supply of 3.9 million coins. Thus, with a bright future, the use cases for crypto seem strong.
Furthermore, NuCypher's low capital makes it attractive to crypto traders looking for tokens that have just begun towards their highest.
Mergers in the crypto space are not common. However, the upcoming merger between NuCypher, Keep and Keep could be the next catalyst to propel it to new heights.
We recommend that you do your research before investing in crypto assets.
Conclusion
NuCypher offers unparalleled security and encryption opportunities to users throughout the entire blockchain industry.
NuCypher is a public blockchain platform that attempts to implement privacy and security schemes. As a result, it may appeal to some users.
Smart contract developers who want to protect proprietary information and integrate privacy services into their decentralized applications may find the NuCypher network interesting.
Moreover, investors might also consider buying NU to add to their portfolio if they believe that the market will favor privacy and data management services designed for blockchain applications.