NuCypher, carried by its NU token, has just had a very high-flying week. With an increase in the price of its token of more than 300% over the last 7 days, the project is now displayed at the gates of the top 100 of the most important marketcap.
While it is undergoing a correction phase, the NU token is evolving to a level that today brings it to the gates of the top 100 cryptos. A place that the project had occupied for a few days. Will he be able to settle there in the longer term? Response elements !
Focus on the NuCypher Project
NuCypher was co-founded by Michael Egorov, well known in the cryptosphere for founding Project Curve. A project that is now installed in the top 100 crypto. The NuCypher project aims to offer a layer of privacy for other blockchains.
It is therefore a protocol that is anchored in the field of securing other blockchains. NuCypher thus offers a decentralized encryption and key management service. The protocol also allows users to exchange a certain amount of data in a completely secure manner. With access to data that can be limited or extended depending on the profile.
Depending on the platform, the technology provides an additional layer of security to that already used by the various public blockchain networks. The solution provides for token holders a staking system that generates interest on tokens kept on the platform. With an interest rate estimated at over 30% per year.
The NU Token price in 2021
The following graph shows the price of the asset for the year 2021.
At the beginning of the year, a token was exchanged for $ 0.16 on the markets. From the beginning of February, the project takes off. During this run, which will last more than a month, the token will see its price quadruple. From $ 0.25 to almost a dollar on May 20. As the crypto market begins its correction as evidenced by the price of Bitcoin at the time, the project will experience a bearish phase until July. On July 20, the token is only traded against $ 0.17, which is the price it was at the start of the year.
From this date and in line with the crypto market which is restarting, the price of the asset will increase slightly. On September 7, the token flirts again with the $ 0.40 mark. But the surge has been real since October 14. So listed at 0.30 USD, the token literally explodes. On the day of October 15, he will even reach his ATH over $ 3.58. In just over 24 hours, the project has just multiplied its marketcap by more than 10. Due in particular to the official announcement of its merger with the KEEP blockchain protocol, after several months of rumors. A merger that will give birth to the Threshold project.
Good to know : In terms of marketcap, the NuCypher project appears in the 111th position of the most important crypto valuations. For a marketcap of over $ 810 million. Less than $ 200 million from the top 100.
At the time of writing, a token is trading for $ 1.19. If the correction already seems to be underway, the project could maintain an interesting price level. And why not settle permanently in the top 100!
What to expect from the longer term project?
If one relies on prediction algorithms, the NuCypher project could continue its ascent. Thus, the models of TradingBeasts estimate likely that a token could sell for between $ 1.17 and $ 1.72 by the end of the year. For an average price of $ 1.37.
Same story for the algorithms of WalletInvestor. Depending on the platform, a token could move around $ 1.35 at the end of the year, in a price range between $ 1.12 and $ 1.56. In the longer term, the forecasts still seem very uncertain.
At the house of DigitalCoinPrice, one of the most widely used platforms, it is estimated that the asset could trade around $ 1.80 by the end of the year. In the longer term, it seems that the trend also remains bullish. By 2025, a token could then be exchanged for nearly $ 4. The desire of decision-makers and project leaders to settle permanently in DeFi and web 3.0 projects is also an incentive to take an interest in NuCypher and its native token.
The Merger with KEEP as a success factor?
It is difficult to predict the modalities or even the potential success of the merger between the two blockchain protocols. Either way, this novelty in the crypto world will obviously grab the attention of the cryptosphere. And sophisticated investors.
In the 24 hours since the announcement of the merger between the two protocols, the trading volume of the NU token has increased by almost 200 times.
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