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NuCypher (NU) is the 106th largest cryptocurrency in the world by market cap, valued at $623,605,108. The current price of NuCypher is $0.1605, which is -0.496% lower than yesterday. Prices have ranged between $0.176902 and $0.162869 over the past 24 hours. All prices are listed in US dollars and accurate as of February 07, 2023 05:02 UTC.
NU is the native token of the NuCypher network, along with being the utility token of the ecosystem. NuCypher offers a decentralized encryption, access control and key management system (KMS) for blockchain networks.
Holders of the NU token get the right to run a node on the network. Users can only run a node by staying online accessible to users and staking a particular amount of native tokens on the network as a collateral. The token model of NU is designed in a way to offer low liquidity so that users would stake tokens for longer terms, rather than using it as a speculative trading asset. NuCypher was founded by MacLane Wilkison and Michael Egorov in 2015, although they did not tokenize it’s data encryption layer till December 2017, when they launched NU as a Simple Agreement for Future Tokens (SAFT) selling 31% of the initial token supply for nearly $4.4 million in what’s also known as a token pre-sale.In October 2019, NuCypher sold another 8% of it’s token supply through another SAFT to raise $10.7 million.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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