The NuCypher token (NU) is a token powering the NuCypher network, a decentralized critical management service. The NuCypher network is a decentralized essential management service that works as a privacy layer on top of the Ethereum blockchain. It gives users additional encryption choices while facilitating critical management operations.
The data that is moved or stored on the cloud is protected by NuCypher, founded in 2015 as a cloud encryption service. Healthcare and finance are two sectors that have fast discovered their usefulness for information security, with the product finding its customers quickly.
After witnessing the service’s effectiveness, the entrepreneurs decided to expand into the blockchain industry. In October of 2017, they launched the NuCypher network ICO with the hope of bringing blockchain-level security to decentralized applications.
NuCypher historical development
The team behind the project is made up of members with various backgrounds in cryptography, academia, and entrepreneurship. MacLane Wilkison is the CEO and co-founder of this project; he has held CTO positions at several companies and was a full stack developer. He is the author of multiple patents and has been involved with technology from an early age.
Michael Egorov is the CTO and co-founder of NuCypher; he also serves as a director at Nucypher and Polkadot. He held positions managing large-scale data processing at several companies working to develop innovative cryptographic protocols.
The NuCypher network has released an updated version of its white paper, available only for community members before. The team decided to release the update early because it contained essential information related to their token sale and the ICO process in general. An updated tokenomics report was also released alongside it.
Instead of targeting consumers, NuCypher focuses on providing blockchains. The service description is full of intricate technical details that are irrelevant to regular users. Still, the founders believe that in time, NuCypher will become a favorite choice for Dapp developers.
The NU token is used for staking by node providers and for governance. Keep in mind that the community voted to link infrastructure with another cryptocurrency security project, Keep, in June 2021. Keanu is the name of this fusion, but the primary goods will continue to exist as separate entities. The joining of infrastructure and Keep does not affect the use of NuCypher for encrypting data.
Keep is the only protocol that is truly decentralized. “Keeps” are off-chain containers that allow contracts to use private data without exposing the data to the public blockchain. Keep and NuCypher, running on Ethereum, will merge their protocols’ functions and communities, not of their companies. This hard merge is called Keanu.
NuCypher has released an updated tokenomics report detailing the number of tokens available, how many are in circulation, and more. A majority of them will be distributed within a year, with 36% being held by the team and founders for future development. Another 24% is to be sold during the public sale, which will consist of a private pre-sale and a public sale. The remaining 40% tokens are distributed between the team, future developers, and the community fund.
Keeping in mind that NuCypher focuses on cloud encryption services, it seems they have taken adequate steps to provide their users with top-level security. The network business model is promising, but it remains to be seen whether the industry will adopt its services over other private networks.
How is the NuCypher network secured?
NuCypher is an Ethereum layer 2 resource allocation method that employs a proof-of-stake (PoS) mechanism to coordinate worker nodes.
The WorkLock is a unique node distribution method the network utilizes, also known as the Network Obfuscation Protocol. To run a NuCypher node, at least 2,000 node operators must stake 353,913 NNC.
The minimum lockup period is 30 days. However, in terms of earning rewards, NuCypher doesn’t promise that staking for more than one year will provide any additional advantages. Stake rewards are restaked automatically after each term unless the user opts out after a staking period.
NuCypher Price Forecast
When NuCypher initially debuted in October 2020, it traded at about $0.2. Its price plummeted to around $0.06-$0.07 before returning to its former level. However, it didn’t stay there for long; the token’s Coinbase listing in December sent it as high as $0.3. Then came a period of stagnation, with the price hovering around $0.22-$0.24 for most of May 2021-June 2022 before dropping to Nucypher price today at about $0.084.
The price has been declining gradually since then, reaching about $0.2 by the end of June. This decline was most likely caused by a combination of the overall market downturn and the announcement of the impending merger with Keep, which raised a lot of uncertainty about the future of the NuCypher token.
Many of the more optimistic investors, on the other hand, continue to believe in the project, pointing out that it is a young effort with solid foundations and a lot of promise.
Coinmarketcap market value chart in Nucypher price forecast
The price of NuCypher is $0.29 as of this writing, which makes it the cheapest cryptocurrency to date, with a market capitalization of $196,916,571. According to the most recent data available, NU is presently ranked #195 in the whole crypto industry, with a value of $0.29 per unit. The token’s 24-hour volume is $4,401,870, and its circulating supply is 283,859,596 NU.
In the past 24 hours, the price of the NuCypher has appreciated by 6.74%, as its trading volume and market capitalization have increased significantly.
After a brief pullback, the NU has continued to rise in recent days, gaining 7.82 per cent in seven days. NuCypher has been showing a lot of promise lately, and this might be an excellent opportunity to get involved.
However, when comparing the present value with that of the previous 30 days, it is clear that NuCypher has appreciated by 18.844 per cent. The monthly average minimum price was $0.21, whereas the maximum average price was $0.24. As a result, this coin appears to be a good investment and an excellent long-term hold for people since we can bet on the future price to be productive.
Future price technical analysis
Even though it’s practically impossible to get a perfect technical analysis of NuCypher cryptocurrency entirely correct, on TradingView, you may observe the real-time aggregated NU buy-and-sell rating for a certain period using this sophisticated technical analysis tool.
The conclusion for NU/USD is based on the most popular technical indicators. The technical analysis of the NU cryptocurrency is mainly based on three indexes: the Bollinger Bands, moving averages, and William O’Neill’s TTM momentum indicator.
The 21st ranked cryptocurrency on CoinGecko is NU (NuCypher). The price of NU forecasted for 2021 with a daily time frame is shown below.
NU/USDT Ascending Channel Trend (Source: TradingView)
The ascending channel trend, which is made up of upward sloping parallel lines. This price pattern features higher highs and troughs. Channel trends are frequently utilized to authenticate trends and pinpoint breakouts and reversals. The ascending channel trend indicates an overall advance.
Traders may swing trade between the pattern’s support and resistance levels or trade in the direction of the trend. A breakout is confirmed with a close outside of the upper line, indicating overbought conditions. This may be an intercepting buy setup for upside targets as the future price closes near the bulls.
The hourly time frame chart shows that if the NU breaks through $0.37 as a resistance level, it will reach the objective of $0.44. If the NU breaches the support level at $0.33, it will fall to around $0.27 if it breakout from the support level at $0.33.
NuCypher Price Forecast 2021
The NU price is expected to pass an average price level of $0.32 in 2021, the predicted minimum price level of NuCypher at the end of this year should be $0.30, and NuCypher price equal may reach a maximum price of $0.33.
NuCypher price November 2021
For November, the average monthly limit of $0.30 is expected for NuCypher, ranging between a high of $0.31 and a low of $0.28.
NuCypher price December 2021
In 2021, the price of NuCypher is expected to reach a minimum of $0.30. With an average trading price of $0.32 throughout 2021, the NU price could hit a maximum of $0.33.
NuCypher (NU) Price Prediction 2022
The forecast price of NU is expected to cross an average price level of $0.45 in 2022; the anticipated minimum price value for NuCypher at the end of the current year should be $0.44. Furthermore, by the end of 2020, NU may reach a maximum price level of $0.53.
Nucypher price prediction January and February
In January, the price of NuCypher is expected to reach an average monthly maximum of $0.33 and a minimum of $0.30.
In February 2022, the price of NuCypher is expected to be at least $0.33. The price of NuCypher will go up to a maximum of $0.35 with an average trading value of $0.35 in USD.
Nucypher price prediction September, October, November, and December
The most recent forecast by crypto analysts forecasts that the average price of NU may fall below $0.42 in September. According to crypto experts, NU is expected to trade at a maximum value of $0.47 with a minimum price of $0.41.
According to the forecast, the lowest price for NuCypher in October 2022 is expected to be $0.41. The NU price is anticipated to reach a peak of $0.48, with an average estimate of $0.43.
The price of NuCypher is expected to be at around a minimal value of $0.43 in November 2022. The average trading value in USD is anticipated to be between $0.44 and $0.51, with a maximum price worth of $0.51.
The average value of NuCypher (NU) may decline to $0.45 by the end of December. NU could trade at a top price of $0.53 and a bottom value of $0.44, with the anticipated price being $0.44.
NuCypher (NU) Price Prediction 2030
According to the projected price for NU and technical analysis, in 2030, the NU price is expected to reach an average value of $8.95, with a minimum price level of $8.71 predicted by the end of this year. Furthermore, NU may attain a maximum price level of $10.50.
NuCypher price prediction January 2030: The price of NU is expected to reach the lowest conceivable level of $5.86 in January 2030. With an average prediction of $6.41, the NU price may rise to $6.59.
NuCypher price prediction February 2030: In February 2030, the price of NuCypher is expected to be at least $6.36. The maximum value of the NuCypher price is anticipated to be around $6.85, with an average trading value of $6.66 in USD.
NuCypher price prediction March 2030: The price of NuCypher is anticipated to be at a minimum worth of $6.63 in March 2030. With an average trading value of $6.93, the price of NuCypher can rise to $7.11.
NuCypher price prediction April 2030: In 2030, the price of NuCypher is expected to be at least $6.76. With a trading price of $7.07 on average through 2030, the NU value might reach a maximum of $7.46.
NuCypher price prediction May 2030:On May 2030, the price of NuCypher is expected to reach a minimum possible level of $6.98 in May 2030. The NU price may rise to a maximum of $7.81, according to the average forecast price of $7.28.
NuCypher price prediction September 2030: In September 2030, the price of NuCypher is anticipated to be at least $7.81. The coin’s value can reach a peak of $9.25 with an average trading value of $8.12 in USD.
NuCypher price prediction October 2030: In October 2030, the price of NuCypher is expected to be at least $8.05. With an average trading value of $8.36 in USD, the NuCypher price value can reach a maximum of $9.65.
NuCypher price prediction November 2030: The price of NU is expected to reach its minimum possible level of $8.37 in November 2030. With an average estimate price of $8.61, the NU price may reach a maximum potential value of $10.07 and hence yield more than 1000X interest for those that wish to sell Nucypher at that point.
NuCypher price prediction 2030: December 2030 is estimated to be the lowest price for NuCypher. With an average forecast price of $8.95, the NU cost could reach a maximum attainable level of $10.50.
WalletInvestor NU Price Prediction for 2021, 2023, 2025
According to WalletInvestor, the price of NuCypher will rise from $0.2423 to $0.695 in one year. That makes NU a tremendous investment opportunity. The long-term income potential is 186.83 per cent, according to prediction markets.
DigitalCoin NU Price Forecast for 2021, 2022, 2023, 2025
In a DigitalCoin analysis, the price of NuCypher cryptocurrency is expected to rise over the next five years, from $0.240014 as of today’s price to $0.9177613 by 2022. By 2023–2024, it will have been increased to $0.4011289 and continue to rise in 2025.
CoinCodex NU Price Forecast for 2020, 2021, 2022, 2023, 2025
According to the forecast of CoinCodex, the NuCypher price today is $0.246615 and will drop to $0.221048 by H1 2020 before starting an uptrend that will take it to $0.5 in Q4 2020 and then to $0.71 by the end of 2021. The market will reach its peak towards the end of 2023, when it’s predicted to go down slightly, returning up during the second quarter of 2025 when it will start dropping again, reaching its lowest point in early 2029 at $0.131071 per coin.
The NU is one of the cryptos that has kept its feet on the ground during this bear market. As a result, our long-term NU price prediction for 2021 is optimistic. This will only happen if it breaks many past psychological barriers, which is a highly likely scenario. Furthermore, if it does so, it will be one of the best cryptocurrencies in the market.
Most investors who had invested in NU did so because they could see a long-term future for it. As a result of current improvements and upgrades in the NU ecosystem, it may have a bright future in 2021. It may very quickly reach $0.44 and rise even higher, yet if investors had anticipated that NU would be a profitable investment in 2021, it could get $0.5.
However, remember to conduct your research even after reading this price prediction to ensure you make informed decisions about crypto investments.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.