NuCypher Token (NU) Price Surges More Than 400 Percent in Last 24-Hours

NuCypher Token (NU) Price Surges More Than 400 Percent in Last 24-Hours
  • NuCypher, a cloud encryption service launched in 2015.
  • NU coins are also used to stake a NuCypher worker node.

NuCypher token (NU) is a decentralized critical management solution powered by the NuCypher network. By overlaying privacy on top of the Ethereum blockchain, the NuCypher network provides decentralized basic management services. It expands users’ encryption options while streamlining administration.

NuCypher, a cloud encryption service launched in 2015, protects data transferred to or stored in the cloud. The device has rapidly found clients in the healthcare and financial industries.

Protects Against Malicious Staking

These are the native tokens of the NuCypher network—the tokens reward network users for completing key management tasks and accessing network delegation/revocation functions. The NuCypher network safeguards against malicious staking by decreasing rewards automatically.

Back in October 2020, NuCypher was trading at $0.2. Before regaining its previous level, the price fell to approximately $0.06-$0.07. The coin’s December Coinbase debut pushed it as high as $0.3 in a matter of minutes. In May-June 2021, the price hovered between $0.22 and $0.24 before falling to approximately $0.084 presently.

NU/USDT: Source: TradingView

Since then, the price has fallen steadily, to about $0.2 by June 30. This drop was likely driven by the general market decline and the news of the planned merger with Keep, which prompted concerns about the NuCypher token’s future.

However, many hopeful investors remain bullish about the business, citing its youth and potential. With the increasing trading volume and market capitalization, NuCypher’s price has risen 403.84% percent in the last 24 hours. According to CoinMarketCap, the NuCypher price today is $1.50 USD with a 24-hour trading volume of $2,036,598,096 USD.

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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.