Some investors are going gaga over the recently-minted Green Moon. Meanwhile, Bitcoin and Ethereum are approaching their all-time highs. But it’s NuCypher that has quickly broken past any forms of resistance. At last check, it was up more than 450%. This obviously got the attention of a whole lot of crypto traders.
The rapid rise in value came as a result of a massive spike in trading volume. According to Coinbase, trading volume broke the $2 billion mark. That might not appear like a whole lot when compared to the likes of Bitcoin or even Solana. But it does represent a 18,390% increase in trading volume for NuCypher.
Let’s take a closer look to see what’s got so many investors’ attention…
NuCypher Crypto: From Obscurity, to Near Ubiquity
A week ago, the NuCypher decentralized threshold cryptography network (that’s quite the mouthful) wasn’t on many folks’ radar. It was presented as a new way to “manage infrastructure secrets across environments.” It also offered the ability to grant or revoke access to data across public networks.
First off, this does sound like a super-cool tool for spies and secret agents. But even a captivating use case like that isn’t usually enough to get the attention of the crypto crowd. Well, until it is. And that’s certainly the case now. So much so that it is now one of the top 80 cryptocurrencies in terms of market value. It’s an impressive way for the NuCypher crypto to celebrate its first birthday.
One year ago today the NuCypher network launched.
Since then, thousands of stakers and dozens of dapp developers have discovered threshold cryptography.
And soon, the true era of threshold cryptography, as we join with @keep_project to launch Threshold Network and tBTC v2.
— NuCypher (@NuCypher) October 15, 2021
But don’t let that fool you. NuCypher crypto’s sudden jump in value has nothing to do with investors’ birthday wishes. It actually comes from important news about its merger with Keep.
We admittedly missed…
