NU Rallies 44% on Binance Listing While Bitcoin, Ether Fall on Musk Tweet

NU, the native utility token of NuCypher, shot up by 44% over the past 24 hours following its listing on the Binance cryptocurrency exchange.

Binance Research tweeted it would be listing the cryptocurrency as of Friday. Following the announcement, the coin reached a 24-hour high of $0.51, a one-day gain of 37.60%.

At a time when many cryptocurrencies are lower, NU is one of the few coins showing positive gains in the past day.

The top two cryptocurrencies by market capitalization, bitcoin and ether, were lower Friday after Tesla CEO Elon Musk tweeted a breakup meme with “#Bitcoin” and a broken heart emoji.

According to the Binance press release, NuCypher enables public networks and dapps to access a data encryption and protection layer without having to rely on a central service provider.

Its CoinMarketCap ranking is #135 and the coin has a live market capitalization of $316,757,236, according to data provided by the data site, a unit of Binance since April 2020.

The coin reached its all-time high of $1.13 on Feb. 21, 2021, according to CoinMarketCap, and is trading at 0.49 cents at the time of writing.

Other altcoins on the rise today include filecoin (FIL), which reached an intraday high of $97.02 at around 4 a.m. UTC. The cryptocurrency, which has a market capitalization of $6.79 billion, is trading at around $88, up 6.76%.

Read more: Bitcoin Drops After Musk Tweets of Breakup