Good day Cryptosphere I hope you're having a wonderful day and enjoying the current bullish market. I wish you many well returns.
If you've been following my blog and invested in the coins I've spoken of here you would have increased your investment portfolio significantly.
At rhe time of writing about compound it was trading at $AUD212 a coin. At current it is trading at $AUD450.
Uniswap was trading at $AUD5 mark and today it is trading at $AUD22. With the exception of Rune and Polkadot these two coins are for HODL and will see price increases in the following months. Celo Gold also remains stagnant but I am tipping growth in this coin late March when their pegged Euro stable coin is announced.
Once Rune's mainnet is out of Beta testing and the exchange is live allowing cross chain investment Rune will be a leader in this space.
Investment has returned to the Defi market backed by strong Ethereum prices and this keeps me actively looking for new investment opportunities for projects that have long term growth and both market and usability.
One of the projects I recently stumbled across was NuCypher. I can't go into a deep dive on what this coin is working to achieve as my knowledge on security is limited.
However, what I can provide is that NuCypher is aiming to be an encryption project that allows you to share data while not online. Traditionally you need to approve and accept transactions through providing your key. From what I understand NuCypher allows people to share data without the need to be online to accept and input their keys by providing another layer of security and encryption. The user retains their key but data is shared in an encrypted manner through NuCypher.
This has been a barrier for trading and data sharing on blockchains and NuCypher is tipped to gain this space.
If you want to invest in this coin, now is the time to do so as it is still trading below $AUD0.50c and I can see this community breaking $AUD1 by march. But you need to do your home work and weigh up if NuCypher is a risk you want to take.
My limited understanding on security and encryption makes me hold back a little. However NuCypher has a strong community and media presence. They have also been active in hackathons and have a strong community behind them with their own discord channel.
Due to my lack of understanding, I am not sure if there are use cases however, the team assures me there are.
I can see use cases on DEX's and the climbing popularity of pools in Uniswap, Sushiswap, Yernfinance and interest earning defi projects such as Compound and AAVE. These projects need to lift security in a way that allows users to invest and not put their staked tokens at risk.
With the increased popularity of staking comes the increased risk of hacking and cryptocrime so from that aspect I can see a market and a use.
I'm only a small investor and most my money goes into Hive and Leo however I am selling one Compound coin and putting it into NuCypher. Personally that is a big call for me as I do see Compound breaking $AUD1000 and charging to be a $5000 coin.
Please remember to invest smart and only put in what you can afford to lose.
If there are any other projects you think are worth looking into. Also, if you have any further information on NuCypher and its application and security please feel free to let me know in the comments section below as I am keen to learn and understand more.
Is NuCypher a good investment?
