The NuCypher (CCC:NU-USD) network is celebrating its first birthday in a heck of a way. A piece of NU coin news is rocketing the token to incredible new heights today, with gains of well over 400% and a new all-time high. It seems that this impressive momentum is the work of an exciting new announcement regarding its long-awaited merger with another crypto network.
NuCypher is a blockchain product that focuses on creating privacy for its users. It provides users with encryption services they can use on a number of different blockchains. Using NuCypher, users can share private data between one another on a public blockchain, eliminating a need for a private network. Users can also stake their NU tokens in order to run nodes for the project, in turn yielding more NU.
The NuCypher community is being surprised with updates into its coming merger today, the first anniversary of the public NuCypher test network launch. Back in June, NuCypher announced a merger with the Keep (CCC:KEEP-USD) network, another project focusing on providing users with a way to share private data on a public ledger.
The projects are heralding the coming overhaul as a “hard-merge,” a play on the more common “hard fork” upgrade. This merger will see KEEP and NU merge into a single protocol called Threshold, backed by a token called “T.” The KEEP and NU communities both approved the merger by vote over the summer. Since then, a decentralized autonomous organization (DAO) has been established to govern the transition. This democratic group decides on the allotment of T to KEEP and NU holders, as well as other details of the merge.
NU Crypto News: NuCypher Sees New All-Time Highs Ahead of Merger Updates
A merger in blockchain is a very unusual and new thing; investors are excited to see just where the move will take the networks. Today, they are going to get some insight into just how this event will occur. In celebration of NU’s first birthday, KEEP and NU developers are coming together to answer investor questions about the incoming Threshold project.
Investors are obviously seeing the NU crypto news as reason to celebrate today. Transaction volume of NU is up nearly 20,000% on the last 24 hours; over $2 billion in NU is changing hands — that’s double the network’s market capitalization. Indeed, the price of NU is also skyrocketing; it is currently up 400%. Earlier in the morning, the token saw a 1,100% increase, which brought NU to an all-time high of $3.58.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.