nuit (NUIT) Metrics
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nuit (NUIT)
What is nuit?
nuit (NUIT) is a decentralized finance (DeFi) project launched in 2021. It was created to facilitate seamless and efficient financial transactions on the blockchain. The project operates on the Ethereum blockchain, utilizing smart contracts to enable a range of financial services, including lending, borrowing, and trading. The native token, NUIT, serves multiple purposes within the ecosystem, including transaction fees, governance participation, and staking rewards. This multifunctionality enhances user engagement and incentivizes participation in the network. nuit stands out for its focus on user-friendly interfaces and accessibility, aiming to bridge the gap between traditional finance and the emerging DeFi landscape. Its commitment to security and transparency further positions it as a significant player in the DeFi space, catering to both novice and experienced users looking for innovative financial solutions.
When and how did nuit start?
nuit originated in March 2021 when the founding team released its whitepaper, outlining the project's vision and technical framework. The project launched its testnet in July 2021, allowing developers and early adopters to experiment with the platform's features and functionalities. Following successful testing, nuit transitioned to its mainnet launch in November 2021, marking its official entry into the blockchain ecosystem. Early development focused on creating a robust platform for decentralized applications, emphasizing scalability and user accessibility. The token's initial distribution occurred through a fair launch model in December 2021, which aimed to ensure equitable access for participants. These foundational steps established the groundwork for nuit's growth and the development of its ecosystem, positioning it for future advancements and community engagement.
What’s coming up for nuit?
According to official updates, nuit is preparing for a significant protocol upgrade aimed at enhancing its scalability and performance, scheduled for Q1 2024. This upgrade will introduce new features designed to improve user experience and transaction efficiency. Additionally, nuit is working on strategic partnerships that are expected to be finalized in the first half of 2024, which will expand its ecosystem and integration capabilities. These initiatives are part of nuit's broader roadmap to strengthen its position in the market and enhance its utility for users. Progress on these milestones will be tracked through their official channels, ensuring transparency and community engagement throughout the development process.
What makes nuit stand out?
nuit distinguishes itself through its innovative use of a Layer 2 scaling solution, enabling enhanced transaction throughput and reduced latency. This architecture allows for seamless interactions with multiple blockchain networks, promoting interoperability and efficient cross-chain transactions. The platform incorporates unique mechanisms such as sharding, which optimizes data processing and enhances scalability, making it suitable for high-demand applications. Additionally, nuit features a robust governance model that empowers its community to participate in decision-making processes, fostering a decentralized ecosystem. The project has established strategic partnerships with key players in the blockchain space, enhancing its ecosystem with valuable tools and resources for developers. These collaborations not only bolster nuit's functionality but also contribute to its distinct role in the broader crypto landscape, positioning it as a versatile platform for both users and developers alike.
What can you do with nuit?
The NUIT token serves multiple practical utilities within its ecosystem. It is primarily used for transaction fees, enabling users to send value and interact with decentralized applications (dApps). Holders of NUIT can participate in staking, which helps secure the network while providing the opportunity to earn rewards. Additionally, NUIT may be utilized for governance, allowing token holders to vote on proposals that influence the direction of the project. For developers, NUIT offers tools for building and integrating dApps, enhancing the overall functionality of the ecosystem. The NUIT ecosystem also includes various wallets and marketplaces that support the token, facilitating seamless transactions and interactions. Users can benefit from features such as discounts or rewards when using NUIT within supported applications, further enhancing its utility in everyday transactions and interactions within the blockchain space.
Is nuit still active or relevant?
nuit remains active through a series of recent updates and community engagements, with the latest development release announced in September 2023. The project is currently focusing on enhancing its user interface and expanding its functionality within the ecosystem. Governance proposals are actively being discussed, indicating ongoing community involvement and decision-making processes. In terms of market presence, nuit is listed on several exchanges, maintaining a steady trading volume that reflects continued interest from investors and users. The project has also established partnerships with other blockchain initiatives, further integrating its services and expanding its reach within the decentralized finance sector. These indicators support nuit's continued relevance in the cryptocurrency landscape, showcasing its commitment to development and community engagement while adapting to the evolving needs of its users.
Who is nuit designed for?
nuit is designed for developers and consumers, enabling them to create and utilize decentralized applications effectively. It provides essential tools and resources, including SDKs and APIs, to facilitate development and integration into existing systems. This support allows developers to build innovative solutions while ensuring a seamless user experience for consumers engaging with these applications. Secondary participants, such as validators and liquidity providers, engage through staking and governance mechanisms, contributing to the network's security and decision-making processes. By fostering a collaborative ecosystem, nuit aims to empower its primary users while ensuring that secondary participants play a vital role in maintaining the network's integrity and functionality. This structure not only enhances the overall utility of the platform but also aligns with the broader goals of decentralization and community-driven development.
How is nuit secured?
nuit uses a Proof of Stake (PoS) consensus mechanism in which validators confirm transactions and maintain network integrity. This model allows participants to stake their tokens, which are then used to validate transactions and create new blocks. The protocol employs cryptographic techniques such as Ed25519 for authentication and data integrity, ensuring that transactions are secure and verifiable. Incentives are aligned through staking rewards, where validators earn rewards for their participation in the network, and penalties, known as slashing, are imposed for malicious behavior or failure to validate correctly. This dual mechanism encourages honest participation and discourages attempts to compromise the network. Additional safeguards include regular audits and a robust governance process that allows stakeholders to propose and vote on changes to the protocol. The diversity of client implementations further enhances the network’s resilience against potential vulnerabilities, ensuring a secure and reliable environment for users.
Has nuit faced any controversy or risks?
nuit has faced some risks primarily related to its technical infrastructure and market dynamics. In early 2023, the project encountered a security vulnerability in its smart contract code, which raised concerns about potential exploits. The development team promptly addressed this issue by deploying a patch to rectify the vulnerability and conducted a thorough audit to ensure the integrity of the codebase. Additionally, they initiated a bug bounty program to incentivize community members to identify any further weaknesses. Ongoing risks for nuit include market volatility and regulatory scrutiny, common challenges in the blockchain space. To mitigate these risks, the team emphasizes transparency in their operations and maintains regular communication with the community regarding updates and security measures. They also engage in continuous development practices to enhance the platform's resilience against future threats.
nuit (NUIT) FAQ – Key Metrics & Market Insights
Where can I buy nuit (NUIT)?
nuit (NUIT) is widely available on centralized cryptocurrency exchanges. The most active platform is AscendEX (BitMax), where the NUIT/USDT trading pair recorded a 24-hour volume of over $56 417.01.
What's the current daily trading volume of nuit?
As of the last 24 hours, nuit's trading volume stands at $56,444.45 , showing a 7.63% increase compared to the previous day. This suggests a short-term increase in trading activity.
What's nuit's price range history?
All-Time High (ATH): $0.039225
All-Time Low (ATL): $0.000557
nuit is currently trading ~98.14% below its ATH
and has appreciated +27% from its ATL.
What's nuit's current market capitalization?
nuit's market cap is approximately $733 336.00, ranking it #1807 globally by market size. This figure is calculated based on its circulating supply of 999 999 288 NUIT tokens.
How is nuit performing compared to the broader crypto market?
Over the past 7 days, nuit has declined by 21.12%, underperforming the overall crypto market which posted a 0.54% gain. This indicates a temporary lag in NUIT's price action relative to the broader market momentum.
Cryptocurrencies are highly volatile and involve significant risk. You may lose part or all of your investment.
All information on Coinpaprika is provided for informational purposes only and does not constitute financial or investment advice. Always conduct your own research (DYOR) and consult a qualified financial advisor before making investment decisions.
Coinpaprika is not liable for any losses resulting from the use of this information.
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nuit Basics
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Popular Calculators
nuit Exchanges
nuit Markets
What is Market depth?
Market depth is a metric, which is showing the real liquidity of the markets. Due to rampant wash-trading and fake activity - volume currently isn't the most reliable indicator in the crypto space.
What is it measuring?
It's measuring 1% or 10% section of the order book from the midpoint price (1%/10% of the buy orders, and 1%/10% of the sell orders).


Why it is important to use only 1% or 10%?
It's important, because measurement of the whole order book is going to give false results due to extreme values, which can make false illusion of liquidity for a given market.
How to use it?
By default Market depth is showing the most liquid markets sorted by Combined Orders (which is a sum of buy and sell orders). This way it provides the most interesting information already. Left (green) side of the market depth bar is showing how many buy orders are open, and right (red) side of the bar is showing how many sell orders are open (both can be recalculated to BTC, ETH or any fiat we have available on the site).


Confidence
Due to rampant malicious practices in the crypto exchanges environment, we have introduced in 2019 and 2020 new ways of evaluating exchanges and one of them is - Confidence. Because it's a new metric - it's essential to know how it works.
Confidence is weighted based on 3 principles:
Based on the liquidity from order books (75%) - including overall liquidity and market depth/volume ratio, volumes included, if exchange is low volume (below 2M USD volume 24h)
Based on web traffic (20%) - using Alexa rank as a main indicator of site popularity
Based on regulation (5%) - researching and evaluating licensing for exchange - by respective institutions
Adding all of these subscores give overall main result - Confidence
Confidence is mainly based on liquidity, because it's the most important aspect of cryptocurrency exchanges. Without liquidity there is no trading, illiquid markets tend to collapse in the long term. Besides liquidity - there is also an additional factor in calculation of score - market depth/volume ratio. If volume is huge (especially when it’s growing much faster than liquidity), and market depth seems to not keep pace with - it's reducing overall score. Exchanges that keep market makers liquidity with expanding volume are those that keep all ratios in-tact and have overall score above 75-80% (it means that they have all liquidity ratios above minimum requirements, high web traffic participation, and are often regulated).
Other coins worth interest - similar to nuit
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 6 | USDC USDC | $77 865 390 692 | $0.999982 | $12 640 543 938 | 77,866,784,723 | |||
| 12 | Wrapped Bitcoin WBTC | $10 235 073 331 | $78 024.31 | $187 840 784 | 131,178 | |||
| 17 | WETH WETH | $8 771 011 576 | $2 329.06 | $388 608 492 | 3,765,896 | |||
| 19 | Usds USDS | $7 888 490 396 | $0.999967 | $47 369 181 | 7,888,752,944 | |||
| 22 | Chainlink LINK | $5 870 477 153 | $9.37 | $259 090 191 | 626,849,970 |
| # | Name | Market Cap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 179 | Fartcoin FARTCOIN | $203 362 115 | $0.203362 | $28 722 150 | 999,998,256 | |||
| 352 | AI Rig Complex ARC | $65 516 033 | $0.065516 | $1 142 316 | 999,998,319 | |||
| 370 | Moo Deng (moodengsol.com) MOODENG | $60 837 506 | $0.061456 | $12 455 754 | 989,940,419 | |||
| 376 | PYTHIA PYTHIA | $59 686 356 | $0.059687 | $1 296 875 | 999,985,140 | |||
| 425 | Jelly-My-Jelly JELLYJELLY | $45 910 702 | $0.045911 | $2 359 924 | 1,000,000,000 |
What is Market depth?
Market depth is a metric, which is showing the real liquidity of the markets. Due to rampant wash-trading and fake activity - volume currently isn't the most reliable indicator in the crypto space.
What is it measuring?
It's measuring 1% or 10% section of the order book from the midpoint price (1%/10% of the buy orders, and 1%/10% of the sell orders).


Why it is important to use only 1% or 10%?
It's important, because measurement of the whole order book is going to give false results due to extreme values, which can make false illusion of liquidity for a given market.
What is showing Historical Market Depth?
Historical Market Depth is showing the history of liquidity from the markets for a given asset. It’s a measure of combined liquidity from all integrated markets on the coinpaprika’s market depth module.
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