NuCypher price prediction: Outlook varies for 2022
The overall crypto market has seen a downturn lately, but what’s happening to NuCypher?
Contents
- What is NuCypher (NU)?
- NuCypher: The tokenomics
- What is the NuCypher price action?
- NuCypher price prediction 2022
- NuCypher price prediction 2025
- NuCypher price prediction 2030
- FAQs
What is NuCypher (NU)?
NuCypher uses a stack of cryptographic technologies and a network of nodes to provide “secrets management” services for blockchain architecture. The platform’s range of services allows for dynamic access to sensitive data on public networks.
The NuCypher platform’s network nodes act as the storage and data distribution layer, generating rewards in return. Nodes must stake a supply of the ERC-20 NU token in order to ensure good faith.
The NU token also acts as a governance token on the NuCypher DAO (decentralised autonomous organisation). Recent proposals related to staking rewards and NU token inflation rates.
The NuCypher project has been around since 2017, while the NU token was released in October 2020. Looking ahead, what does the NuCypher price prediction coverage say about the project? Let’s check it out.
NuCypher: The tokenomics
As of 19 August 2022, NuCypher had a market value of $0.17 and a market capitalisation of about $124m. The circulating supply is 703 million out of a maximum supply of just under 3.89 billion.
NuCypher (NU) saw a recent uptick in trading volume, having traded $31m over 24 hours, a volume that was 17% higher day-on-day. By far the largest holder of NU is the staking contract, which holds 68% of the supply.
The NU token enjoys strong support from the Coinbase centralised exchange. Liquidity can also be found on Bithumb, Huobi, KuCoin and others.
What is the NuCypher price action?
NU went into overdrive on 15 October 2021, as the token climbed almost fivefold in a single day to an all-time high, up from $0.29 to $1.43, driven in part by a listing on the Bitrue exchange.
This substantial one-day gain was unsustainable. NU entered a swift correction which lasted throughout the rest of 2021, first falling below the $1 mark on 27 October, then down to $0.90 by 1 December 2021.
NU was trading at $0.75 on the first day of 2022, then dropped below the $0.50 barrier on 21 January. Barring brief fluctuations, NU has mostly stayed under $0.50 since, continuing down to lows of $0.1355 after a market-wide crash sent ripples through the crypto market. Later on in the month, the network announced the following on Twitter:
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As May came to a close, there had been a marked uptrend with triple-digit gains. The token recorded highs of $0.38 on 1 June.
However, the market turmoil towards the end of the second quarter persisted, and another crash in mid-June throttled the market. By 18 June, the token was trading at lows of $0.14. The token has gained back some momentum in the past few weeks, and as of 19 August the token is trading at $0.17.
NuCypher price prediction 2022
At WalletInvestor, the NuCypher price prediction for 2022 is currently $0.14 towards the end of September, and $0.02 towards December, suggesting the token is a “bad long-term investment”. In contrast, PricePrediction.net’s NU coin price prediction for September is an average value of $0.22, which is steady around the current price. PricePrediction.net believes the token will be worth $0.23 in December.
Gov Capital thinks the token could pass the $1 barrier in October, though the average prediction for the end of the year is $0.72.
DigitalCoinPrice has a NuCypher price prediction of $0.24 for September this year and $0.24 in December.
NuCypher price prediction 2025
By the end of 2025, WalletInvestor predicts that NU will sink to around $0.009.
Gov Capital is more bullish, giving an end-of-year NU price prediction of $3.75 for 2025. On the flipside, PricePrediction.net is keeping expectations low, with an average estimate of $0.74.
The DigitalCoinPrice NuCypher price prediction for 2025 stands at $0.35. The $1 barrier is not expected to be broken within the decade.
NuCypher price prediction 2030
According to PricePrediction.net, the NuCypher price prediction for 2030 is $4.63. On the other hand, the DigitalCoinPrice NU price prediction remains conservative at $0.80.
The TechNewsLeader NuCypher price prediction is $4.91 for 2030, before rising further to $7 in 2031.
For readers contemplating an investment, make sure to read up on the underlying fundamentals of the project, and seek independent financial advice before putting your money down. Never invest more money than you can afford to lose.
FAQs
How many NuCypher are there?
There are 703 million NU in circulation out of a maximum supply of 3,885,390,082.
Is NuCypher a good investment?
NuCypher could be a good investment. Most forecasts believe that NU will go up in value to varying degrees. But bear in mind that these forecasts are speculative – NU could reduce in value just as easily.
Will NuCypher go up?
The NuCypher price predictions suggest that it will climb in value to varying extents, although these targets should not be taken as proper financial advice. Make sure to do your own research before investing.
Should I invest in NuCypher?
You should draw your own conclusions following a deep analysis of the project, and after receiving independent financial advice. If you decide on an investment, make sure never to part with more money than you can afford to lose.
