Not so old cryptocurrency, NuCypher on its one-year anniversary on Friday soared to a new height of around 1,134% further hiking its market valuation to more than 2 billion US dollars. The Ethereum token which runs on a model of the new network delivers decentralised apps and protocols concerning data privacy and storage management. Meanwhile, the NuCypher token was trading at 1.60 US dollars at 1:52 PM today. According to the data obtained from CoinMarketCap, its market cap stood at $1,109,401,776 followed by the fully diluted market cap at $6,250,711,274.
Several traders are keenly keeping a watch on the NuCypher price predictions waiting for it to hit new heights.
NuCypher token touches new heights in the crypto market
According to the data obtained from CoinMarketCap, the altcoin hit a new high of $3.58 before it pared its gain by 50%. In a one-day volume, it exploded 18.266% higher taking its valuation to billions. Taking to Twitter, NuCypher wrote, “One year ago today the NuCypher network launched. Since then, thousands of stakes and dozens of app developers have discovered threshold cryptography.”
Meanwhile, the hike in the valuation of the NuCypher token came after bitcoin’s October rally. It has a total of 687.5 million coins in circulation and further has a maximum supply of 3.9 billion coins. Build on the Ethereum network, its white paper was first published in 2017 and later it started trading on October 15, 2020.
NuCypher price prediction
As per the data obtained from the market, gained the current value of a NuCypher which is at 1.50 dollars is ranked in the 93rd position in the crypto ecosystem. Furthermore, its total circuiting supply is 687,500,000.00 and the market cap stands at $1,109,401,776.
However, with its increasing trade volume and market cap, it has shown a good increase in the last 24 hours and is still going very strong. Thereafter, the NuCypher price prediction till 2025 can stand at a maximum of 8 US dollars or a minimum of 7 US dollars. However, several market researchers have also expressed concerns regarding the price predictions for 2021. As per that, many believe that the price of NuCypher tokens will see a good rise but with eventually fall off while fighting seller pressure within a year.