Privacy Token NuCypher Surges 760% in a Week Following Protocol Merger News

By Ibiam Wayas October 19, 2021 In Blockchain, Crypto News, Tokens

The native cryptocurrency of Ethereum cryptographic services provider NuCypher outperformed the majority of altcoins last week, including Ether (ETH) and Binance Coin (BNB). NuCypher (NU) more than doubled its market value and capitalisation on its anniversary day, following the announcement of the network’s upcoming merger with Keep Network.

NU Soared 8x Last Week

NuCypher operates several nodes optimised for threshold cryptography to enable decentralised application developers to secure their data on the blockchain. The NU token began trading on October 15, 2020.

The community seems to be positive about future prospects and its upcoming merger with the Keep Network to have incited a spike in the market value of NU. During the first anniversary celebration on October 15, the token soared from as low as US$0.300165 to an all-time high of US$2.61 within that same day. 

This represents a +760 percent increase in a daily candle, and although the price of NU has shrunk from the ATH, the token is still up by 323 percent at US$1.27 at the time of writing.


NuCypher is Merging With Keep 

The major driver of the rally in NU last week could be traced to the upcoming merger with Keep Network, also a privacy-focused blockchain network. The merger was first hinted at in June, and although it’s still unknown when it will be finalised, NuCypher and Keep are believed to be nearing completion of the first-ever crypto merger into a single network called Threshold.

Both communities unanimously voted in support of the merger, and it’s expected that both KEEP and NU holders will receive the new “T” token from Threshold Network.

Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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