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NuCypher (NU) Price Prediction 2022-2030

27 Oct, 2022 9 min read
NuCypher (NU) Price Prediction 2022-2030

NuCypher (NU) is an Ethereum-based token that can be staked to run a node on the NuCypher network. NuCypher is a threshold cryptography network that provides data privacy and key management for decentralised applications and protocols. The platform's network nodes work as the storage and data distribution layer, generating rewards in return. The NU token acts as a governance token on the NuCypher DAO (decentralised autonomous organisation). 

A relatively new project, NuCypher was launched in 2017, while the NU token was released in October 2020. What do the NuCypher (NU) price predictions say about the project's future? Let's check it out.

What is NuCypher (NU)?

NuCypher (NU) crypto

NuCypher is a cryptographic framework that adds a security and privacy layer for dApps (decentralised applications) and public blockchain networks. NuCypher allows developers to store, share and manage private data across multiple blockchain networks. It also lets developers access sensitive information across several apps.

NuCypher is an Ethereum-based network that involves a decentralised key management system, encryption and access control service to resolve the issues of storing and manipulating information. NuCypher privacy encryption systems are especially useful to the banking, healthcare and other sectors dealing with huge volumes of data. 

MacLane Wilkison, Michael Egorov and Alexander Bezopasnyi launched the NuCypher project in 2017. The project raised $13 million in funding from Fenbushi Capital, Polychain Capital, Metastable Capital and other investors. 

The NuCypher project consists of three parts: 

  • Umbral is a key management system that uses proxy re-encryption to allow users to encrypt and decrypt data. 
  • Nodes are the servers running on NuCypher software and generating keys for the Umbral management system.
  • Proxy Re-encryption Keys are the keys to encrypt and decrypt data in the Umbral management system. 

Data privacy is the NuCypher project's main focus and use case. It allows companies to share data safely without revealing the underlying data. The network also offers data security keys to encrypt and decrypt data stored outside the organisation on the NuCypher network.

NU History

Before considering NuCypher (NU) token price predictions, let's look at its history and learn how and who launched the project.

NuCypher was presented to the market in 2015 as an affordable and secure way to send data to and from the cloud. MacLane Wilkison and Michael Egorov co-founded the project. Prior to launching the NuCypher project, Wilkison worked as an investment banking analyst for Morgan Stanley, and Egorov served as a senior software engineer. The project's co-founders' knowledge and experience helped shape NuCypher into a valuable and secure solution.

It wasn't until 2017 that NuCypher shifted its focus to providing services in the blockchain market. Back then, the project received a boost in notoriety after the network secured $750,000 in seed funding to expand its features.

The cryptocurrency market had a significant year in 2017, which is when multiple new platforms were launched. The crypto market's growth caught the attention of NuCypher. The project's co-founders made a shift to the development of the new decentralised token-based model. Instead of opting for a public token sale, the developers opted for SAFT (a simple agreement for future tokens). The approach let the company raise $4.4 million in December 2017. The public testnet went live in December 2019. 

The NuCypher currently consists of more than 20 members. The company has experts that take care of developing the NuCypher Token (NU) Platform. The project is backed by many exchanges, including KuCoin, Gate.io, etc. 

NuCypher Whitepaper

NuCypher (NU) whitepaper was published in June 2017. However, the testnet became operational in November 2018.

According to the official document of the project, NuCypher allows developers and enterprises to create highly-secure applications in healthcare, financial services and other business niches dealing with sensitive data. NuCypher brings private data sharing and computation to the public blockchain, enabling everything from encrypted content marketplaces to secret credentials management.

NuCypher provides the infrastructure for various applications that require sharing sensitive data as basic functionality. The use cases include:

  • Sharing encrypted files ("Decentralised Dropbox")
  • End-to-end encrypted group chat ("Encrypted Slack")
  • Patient-controlled electronic health records (EHR)
  • Decentralised digital rights management (DDRM)
  • Secret credentials management for scripts and backend applications
  • Shared credentials and enterprise password management
  • Mobile device management (MDM) and revocation, etc.

According to the NuCypher (NU) whitepaper, the main purpose of the NU token is to distribute trust in the system. "The amount of trust to each node is proportional to the number of tokens that node locks up. It means the probability of a node to get a re-encryption key is equal to the ratio of the tokens that node locks up and the total number of tokens locked up."

"Importantly, the token should be hard to obtain, which means that no miner can get close to 50% of trust, keeping good decentralisation of the system. Also, the token can be used as collateral against miner's misbehaviour when working on a blockchain which supports smart contracts (such as Ethereum)."

NuCypher (NU) Features

Our NuCypher (NU) price prediction article would be incomplete without highlighting the project's main features.

NuCypher is becoming an inevitable part of dApps. The protocol involves three key elements:

  • 'Staker nodes' can lock the 'Staking Escrow' for a duration. The NU locking will generate two types of rewards - Inflation reward NU and Policy reward ETH. 
  • Secondly, the worker node called 'Ursula' helps hold cryptographic operations. 
  • Finally, Umbral proxy re-encryption, a key-encryption type, provides access control to distributed protocols. Together the network preserves information from attacks and spamming.

Other unique features of the NuCypher (NU) project include the following:

  • Users can safely share their private information on public networks using the proxy re-encryption protocol.
  • Users can manage IAM tokens, identity and access management, database and secure shell credentials remotely.
  • NuCypher Hadoop is a high-performance access management data protection. It is a highly scalable enterprise-ready encryption solution.
  • NuCypher uses third-party nodes for private computing and data encryption.
  • NuFHE allows arbitrary and secure computation of encrypted data.
  • Using the dynamic access control feature, users can define parameters and conditions for data sharing and access.
  • NuBLS is the signature library for implementing threshold protocols. 

NuCypherDAO is one more thing worth a mention before we move further with the NuCypher price prediction discussion. This is a multi-category public forum where users can find the latest news and announcements from the NuCypher team, submissions for protocol updates, research, and discussions. This is also the place where developers can collaborate with the NuCypher team.

NU Benefits

The major benefit of joining the NuCypher ecosystem is the possibility to move information and computation to the cloud securely. Network nodes handle data encryption and decryption. The nodes never possess the encryption keys, so the data remains only visible to the approved parties. This system is called Proxy Re-Encryption (PRE). It aims to protect users from data breaches.

NuCypher is based on the Ethereum blockchain, the world's most popular DApp and DeFi blockchain. NuCypher users can also store and trade their tokens within the vast Ethereum ecosystem.

NuCypher (NU) Price Analysis

At the time of writing this NuCypher (NU) price prediction article (17/10/2022), the token's price was $0.147338, with a daily trading volume of $2,766,849. The cryptocurrency ranked #178, on CoinMarketCap, with a live market cap of $103,578,782, a circulating supply of 703,000,000 NU coins and a maximum supply of 3,885,390,082 NU coins.

NuCypher (NU) price statistics (as of 17/10/22)

Current price

$0.1472

Market cap

$103,578,782

Circulating supply

703,000,000.00 NU

Maximum supply

3,885,390,082 NU

Total supply

1,380,688,921 NU

Daily trading volume

$2,766,849

All-time high

$3.58 (15/10/21)

All-time low

$0.0611 (27/11/20)

Website

nucypher.com

NU price history

Following the official release, the NU token's price increased almost fivefold in a single day to an all-time high, up from $0.29 to $1.43. However, the price rise was unsustainable, and the token's price started falling through the rest of 2021, when it fell below $1 on 27 October and further down to $0.90 by 1 December 2021.

On 1 January 2022, NU was trading at $0.75. On 21 January, the price dropped below $0.50 and has stayed below that value since then. The token's price went down to lows of $0.1355 after the market-wide price fluctuations in the cryptocurrency industry. Following the NuCypher (NU) price drop, the value per token's asset increased to $0.38 on 1 June 2022.

In mid-June 2022, the market underwent another crash, resulting in the NU token trading at lows of $0.14. In the first half of autumn 2022, the cryptocurrency kept the price value at the same level. As of the moment of writing this NuCypher (NU) price prediction on 17 October 2022, the token was trading at $0.1472.

NU technical analysis

As of 17 October 2022, NuCypher had a market risk-adjusted performance of 0.6607 and a mean deviation of 2.34. 

NuCypher Price Chart US Dollar (NU/USD)
NuCypher Price Chart US Dollar (NU/USD)

At the moment of writing this NU price prediction, the token's price was $0.147338. It had a circulating supply of 703 million NU coins and ranked #178, with a market cap of $103,578,782.

On 17 October 2022, NuCypher price opened at 0.1489037. The NU stock was down by -0.60% from the open. After rallying to the $0.1495995 level, NU could not sustain power.

NU will need to avoid closing below the 0.1439897 level to make a move to the first major resistance level at $0.2090968. If another extended rally, it should test the next major resistance level at $0.2654785. The third resistance sits at $0.3092809.

Is NuCypher coin a good investment?

NuCypher is a good investment, as per NU crypto price predictions. Your current investment can turn out to be a profitable investment in the long run. However, you should remember that digital coins always experience high volatility, so your research and analysis are highly recommended before investing.

NuCypher price prediction 2022-2030

WalletInvestor's NuCypher coin price prediction for 2022, 2025 and 2030

WalletInvestor's experts and analysts are more pessimistic about NuCypher's future price, citing numbers downwards of $0.02057 in December. WalletInvestor keeps predicting NuCypher price decline, quoting prices around $0.1309 in 2023. They anticipate the NuCypher market to grow in 2025, resulting in $0.32725 by the end of the year. According to WalletInvestor's NuCypher (NU) price prediction, the token's price should reach $0.27115 by 2030.

TradingBeast's NuCypher coin price prediction for 2022, 2025 and 2030

As for TradingBeast's NuCypher price predictions for the rest of 2022, analysts forecast the token's price to go above $0.208004 by December. TradingBeast forecasts NuCypher to reach $0.290162 by December 2025. Most experts expect an encouraging future for NuCypher: long-term NuCypher price predictions promise significant growth by 2030. TradingBeast predicts the price to reach $0.307572.

CoinCodex's NuCypher coin price prediction for 2022, 2025 and 2030

According to the NuCypher price prediction provided by CoinCodex, the value of NuCypher is predicted to drop by -3.78% and reach $ 0.143852 by the end of October 2022. According to their technical indicators, the cryptocurrency's sentiment is Bearish, while the Fear & Greed Index shows 24 (Extreme Fear). NuCypher recorded 13/30 (43%) green days with 3.93% price volatility over the last 30 days. Based on CoinCodex's NuCypher forecast, it's now a bad time to buy NuCypher.

The NU price prediction for 2025 is $ 2.08 if it follows Facebook's growth. If NuCypher follows Internet growth, the prediction for 2025 would be $ 0.410443.

Gov Capital's NuCypher coin price prediction for 2022, 2025 and 2030

According to the Gov Capital's NuCypher (NU) price prediction system, the future price of the NU token is predicted at $0.59984260346779 (308.056%), meaning that if you invested $100 now, your current investment may be worth $408.056 on in 2023.

NuCypher future forecast in general

Most analysts and experts agree that NU could conclude the year 2022 on a high note. However, WalletInvestor's experts and analysts are pessimistic about the cryptocurrency's future growth.

How high can the NU coin go?

There is a considerably higher chance that the price of NuCypher will increase to $7.00 in ten years. The value of the NuCypher (NU) token can surpass a minimum price of $6.80 and a maximum price of $8.14 within the next 8 to 10 years.

NU price prediction today

There is a chance that the average price of NU could rise to about $0.22 by the end of 2022 if more investors are attracted to support the cryptocurrency. NuCypher (NU) could end 2022 with a maximum price of $0.25 and a minimum price of $0.21.

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