One privacy-focused altcoin is surging by more than 40% this week, defying an up-and-down digital asset market.
Keep Network (KEEP) is a privacy layer for public blockchains that lets users and decentralized applications store data securely and privately.
The booming altcoin is actively merging with a different crypto network to become an entirely new project. It’s is trading at $0.66 at time of writing, up more than 41% from where it was priced seven days ago.
KEEP underwent a decentralized on-chain network upgrade in combination with NuCypher (NU), a platform that offers cryptographic services such as access control and data privacy. The two networks merged to form Threshold, which launched at the beginning of 2022.
Explains Doug von Kohorn, head of product at Keep Network,
“For the past few months, the Keep and NuCypher teams have been hard at work on the first-ever on-chain merger between two decentralized networks with a shared goal. Both projects are focused on guaranteeing user sovereignty on the public blockchain through the use of threshold cryptography.
Now as Threshold, Keep’s infrastructure and NuCypher’s privacy tools will offer users an integrated way to keep their digital assets private and secure.”
NU and KEEP holders can convert their tokens to the Threshold Network Token (T), at rates of approximately 1 NU to 3.26 T and 1 KEEP to 4.78 T.
Global crypto exchange Binance announced this week that it plans to support the merger.
“Binance will fully support the merger of NuCypher and keep_project into Threshold!!
If you have KEEP or NU on Binance, it will automatically be upgraded to T starting one week from today.”
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The post This Privacy-Focused Altcoin Is Skyrocketing Amid Project Merger, Defying Wobbly Crypto Market appeared first on The Daily Hodl.