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What is NYM (NYM)?

NYM basic info

Name:NYM
Ticker:
Introduction:

What Is NYM?

NYM is a privacy infrastructure that leverages the power of blockchain">blockchain technology to provide unprecedented levels of digital privacy. It is a decentralized, incentivized, and open-source system designed to protect internet users from pervasive surveillance by obfuscating their digital footprints. At its core, NYM is not just another privacy tool; it is a comprehensive privacy ecosystem that aims to ensure complete anonymity for its users, whether they are transacting, communicating, or simply browsing the internet.

The NYM network is a next-generation privacy solution that addresses the inherent weaknesses in current internet protocols and privacy tools like VPNs and Tor. These traditional tools, while useful, often fall short in protecting against traffic analysis attacks and can still expose user data through various means. NYM's approach is different and more robust, combining the strengths of both Proof of Work (PoW) and Proof of Stake (PoS) mechanisms into a unique hybrid called 'Proof of Mixing.' This innovative method not only secures the network but also incentivizes participants through its native NYM token.

Resources

Whitepaper: https://nymtech.net/nym-whitepaper.pdf

Official Website: https://nymtech.net/

How Does NYM Work?

NYM operates through a sophisticated architecture known as a mixnet. This network consists of a series of mix nodes that shuffle internet traffic, making it extremely difficult for any observer to decipher communication patterns or metadata. Each node adds layers of encryption and strategically delays packets of data, ensuring that the sender's and receiver's information remains untraceable. This process is crucial in the fight against metadata surveillance, which can reveal just as much about an individual as the content of the communication itself.

The mixnet is complemented by NYM Credentials, a system of anonymous cryptographic proofs that allow users to verify their right to use the service without revealing their identity. These credentials are unlinkable and support selective disclosure, giving users control over what information they share. Validators on the NYM blockchain issue these credentials, maintaining the network's integrity and security. Service providers can integrate with the NYM network to offer their users enhanced privacy, and users can participate as validators or delegators, staking NYM tokens to secure the network and earn rewards.

What Is NYM Token?

The NYM token is the utility token of the NYM ecosystem, essential for the operation and security of the mixnet. With a total supply of 1 billion tokens, NYM is used to incentivize the various participants in the network, from validators to mix node operators. The tokenomics of NYM are designed to promote a sustainable and secure network, with rewards distributed to those who contribute to the network's privacy capabilities.

What Determines NYM's Price?

The price of NYM, like any other cryptocurrency, is influenced by a complex interplay of factors, reflecting the dynamics of supply and demand within the broader blockchain ecosystem. One of the primary determinants of NYM's price is its utility within the NYM network. As the native token, NYM is used to incentivize the operation of mix nodes, which are fundamental to the network's privacy-preserving capabilities. The more applications and services that integrate with NYM's infrastructure, the greater the demand for NYM tokens to facilitate these privacy enhancements. This increased utility can lead to a higher valuation of NYM as users and service providers acquire and hold the token to participate in the ecosystem.

Market sentiment also plays a crucial role in determining the price of NYM. Investor perception is often swayed by the project's technological advancements, partnerships, and integration with other blockchain platforms. Positive news and developments within the NYM project, such as successful updates or strategic collaborations, can boost confidence and demand for NYM tokens. Conversely, regulatory news or security concerns can have the opposite effect. Additionally, the broader cryptocurrency market trends can impact NYM's price, with bullish or bearish sentiments in major cryptocurrencies like Bitcoin often reflecting across the market, including niche privacy-focused tokens like NYM.

Lastly, the tokenomics of NYM, including its supply mechanisms, staking rewards, and distribution schedules, are critical in shaping its price. A limited supply with a well-defined vesting period can create scarcity, potentially driving up the price as long as the demand remains steady or grows. The balance between the number of tokens staked by validators and delegators and those available on the market can also affect liquidity and price volatility. As the NYM network grows and matures, the interrelation of these factors will continue to define the economic landscape in which NYM operates, influencing its price within the cryptocurrency markets.

For those interested in investing or trading NYM, one might wonder: Where to buy NYM? You can purchase NYM on leading exchanges, such as Bitget, which offers a secure and user-friendly platform for cryptocurrency enthusiasts.

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Current price:
All-time high:$5.88
All-time low:$0.05639

NYM supply and tokenomics

Circulating supply:804,560,100 NYM
Total supply:1,000,000,000 NYM
Max supply:1,000,000,000 NYM
Market cap:$87.89M
Fully diluted market cap:$109.24M
Token allocation:
Backers
36.50%
Mix-Mining
25.00%
Team
20.00%
Reserve & Community
11.00%
CoinList Sale
7.50%
Tokenomics:

Uniqueness

NYM is a private network built on the Cosmos blockchain, designed to hide the IP address and usage status of users. NYM proposes a solution that eliminates the possibility of traffic analysis by tech companies for VPNs, I2P, etc. by mixing and packaging the data transmitted on the network into packets of consistent data size through decentralized nodes.

Links

Buy NYM for $1Buy NYM now

What is the development prospect and future value of NYM?

The market value of NYM currently stands at $87.89M, and its market ranking is #499. The value of NYM is not widely recognized by the market. When the bull market comes, the market value of NYM may have great growth potential.

As a new type of currency with innovative technology and unique use cases, NYM has broad market potential and significant room for development. The distinctiveness and appeal of NYM may attract the interest of specific groups, thereby driving up its market value.

What will the price of NYM be in 2025?
Based on NYM's historical price performance prediction model, the price of NYM is projected to reach $0.1807 in 2025.
What will the price of NYM be in 2030?
In 2030, the NYM price is expected to change by -5.00%. By the end of 2030, the NYM price is projected to reach $0.2788, with a cumulative ROI of +147.56%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of NYM and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is NYM worth investing or holding? How to buy NYM from a crypto exchange?

If you want to buy NYM, the following information may be helpful for your investment decisions:
In the last 7 days, the price of NYM has fallen by -14.53%, leading to negative returns for most NYM investors. The market is currently pessimistic about the price trend of NYM.
It is important to note that the current price of NYM has retreated by -98.14% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether NYM is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in NYM or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of NYM, if you want to buy or sell NYM, you can consider Bitget for your trading needs. The best place to buy NYM is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in NYM has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy NYM. Here's a step-by-step guide on how to buy NYM on Bitget.

How to get NYM through other methods?

Using cash to buy NYM is not the only way to obtain NYM. If you have the time to spare, you can get NYM for free.
Learn how to earn NYM for free through the Learn2Earn promotion.
Earn free NYM by inviting friends to join Bitget's Assist2Earn promotion.
Receive free NYM airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to NYM through Bitget Convert, Bitget Swap, or spot trading.

What is NYM used for and how to use NYM?

The use case of NYM may expand as the crypto market and the project itself develop. Currently, you can use NYM to achieve the following goals:
Arbitrage by trading NYM: Since NYM is a frequently traded cryptocurrency, the price of NYM is always fluctuating. Earn more NYM by buying low and selling high on the exchange. Bitget spot market provides a variety of NYM trading pairs to fully meet your needs.
Earn by staking NYM: You can also generate income through financial management methods such as staking NYM or lending NYM. Bitget Earn offers a variety of financial products designed to help you earn more income from your NYM.
Send or pay NYM: If you want to give NYM to your friends, a charity, or a fundraiser, or you want to pay someone with NYM, you can quickly and easily send NYM to the recipient through their payment address.
You can also go to the official website of the NYM project to learn more about the use cases of NYM. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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