NYM

1. Fundamental Analysis

1.1 Introduce

NYM is the native token of the Nym mixnet. It is a utility token that rewards mixnodes for mixing traffic and providing privacy for users of the Nym network. Users will use NYM tokens to access the mixnet and send their data through it. The fees, collected in NYM, go to a reward pool which is distributed to mixnodes. Mixnodes are rewarded based on their performance and the amount of NYM bonded to their node. People can delegate NYM to mixnodes as a bond signaling reputation for that node and earn a share of the mixnode rewards. This supports decentralization and encourages the mixnet to have a high quality of service by involving the broader community in the process of selecting nodes.

1.2 Basic Info

2. Technical Analysis

2.1 Kline Data

2.2 Analysis

The recent price action shows a strong upward trend culminating in a peak around 0.13, followed by a significant correction. However, the subsequent price action suggests a potential retest of the upward trend. While short-term volatility is expected, the overall medium-term outlook remains bullish, with a potential target range between 0.115 and 0.125 in the near future. A sustained break above 0.125 would signal a resumption of the upward trend, while a break below 0.11 would suggest a more significant correction. Volume data confirms periods of increased trading activity during price fluctuations.