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<ul><li><keyword id="12319001" type="UNKNOWN" weightage="60" keywordseo="nucypher" source="Orion">NuCypher</keyword> soared as much as 1,134% on Friday as the <keyword id="11961768" type="UNKNOWN" weightage="60" keywordseo="altcoin" source="Orion">altcoin</keyword> touched a $2 billion market cap.</li><li>The decentralized threshold cryptography network celebrated its one-year anniversary on Friday.</li><li>The surge made NuCypher the 79th largest cryptocurrency, according to CoinMarketCap.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>NuCypher, a little-known altcoin that bills itself as a decentralized threshold cryptography network, soared as much as 1,134% on Friday.The surge catapulted NuCypher's market valuation to more than $2 billion from about $200 million as one-day volume exploded 18,266% higher, according to <a href="https://coinmarketcap.com/currencies/nucypher/">data from CoinMarketCap.</a> The altcoin hit a high of $3.58 before paring its gains by about 50% to $1.80.While NuCypher celebrated its one-year anniversary on Friday, there was no clear indication as to what developments drove such a sharp surge in demand for the altcoin, which is now the 79th largest cryptocurrency by market value."One year ago today the NuCypher network launched. Since then, thousands of stakes and dozens of dapp developers have discovered threshold cryptography," NuCypher's Twitter profile <a href="https://twitter.com/NuCypher/status/1448996437916672010">said Friday morning.</a>The surge in NuCypher came as bitcoin continued its October rally <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-60000-futures-etf-sec-approval-trading-october-regulation-2021-10">and hit $60,000</a> amid ongoing speculation that the <a href="https://markets.businessinsider.com/news/currencies/bitcoin-futures-premium-doubles-sec-etf-potential-approval-decision-2021-10">SEC may be close to approving the first bitcoin futures ETF.</a>NuCypher has 687.5 million coins in circulation and a max supply of 3.9 billion coins. NuCypher, which is built on the ethereum network, serves as an encryption service for public blockchains and offers end-to-end encrypted data sharing on public blockchains and decentralized storage solutions.NuCypher's white paper was first published in 2017, and the altcoin began <keyword id="6368158" type="UNKNOWN" weightage="60" keywordseo="trading" source="Orion">trading</keyword> on October 15, 2020, at a price of $0.23 and a market valuation of $2.4 million. <div type="image" title="NuCypher chart price" height="492" width="950" msid="87043430" hostid="261"></div>

NuCypher soars 1,134% in a single day as the altcoin touches $2 billion market valuation

<ul class="summary-list"><li>The Dow industrials leapt more than 380 points Friday following strong <keyword id="11931579" type="UNKNOWN" weightage="60" keywordseo="retail-sales" source="Orion">retail sales</keyword> and earnings from Goldman Sachs. </li><li>Goldman joined other banks this week in jumpstarting the Q3 earnings season with profit beats. </li></ul>US <keyword id="11893878" type="UNKNOWN" weightage="60" keywordseo="stocks" source="Orion">stocks</keyword> closed higher Friday as Wall Street's key indexes locked in wins for the week on the back of unexpectedly strong monthly retail sales and a <a href="https://markets.businessinsider.com/news/stocks/goldman-sachs-q3-earnings-stock-price-gs-investment-banking-revenue-2021-10">big earnings beat from Goldman Sachs</a>. The <keyword id="11907242" type="UNKNOWN" weightage="60" keywordseo="dow-jones-industrial-average" source="Orion">Dow Jones Industrial Average</keyword> surged more than 380 points, with <a href="https://markets.businessinsider.com/stocks/gs-stock">Goldman Sachs</a> shares advancing after the bank's third-quarter earnings of $14.93 a share came in well ahead of expectations of $10.18, driven by strong investment banking revenue.Goldman stock helped push the financial sector on the <keyword id="11898248" type="UNKNOWN" weightage="60" keywordseo="sp-500" source="Orion">S&amp;P 500</keyword> index up by more than 1%. Both indexes gained more than 1% for the week. Here's where US indexes stood at 4:00 p.m. on Friday: <ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest">S&amp;P 500</a>: 4,471.46, up 0.75%</li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">Dow Jones Industrial Average</a>: 35,295.55, up 1.1% </li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">Nasdaq Composite</a>: 14,897.34, up 0.5%</li></ul>Goldman joined Morgan Stanley, Bank of America, JPMorgan and other banks this week that posted quarterly results above expectations. The banks were the first major companies to jumpstart the new earnings season. But other companies may have trouble passing on higher prices to their customers while supply-chain problems are ongoing. Those factors potentially pose a serious risk to broader earnings prospects, said Morgan Stanley in a note Friday. Meanwhile, stocks on Friday found support from the government's report that showed <a href="https://www.businessinsider.com/retail-sales-september-consumer-spending-delta-wave-economic-recovery-data-2021-10">retail sales rose 0.7% last month</a> to $625 billion, exceeding the median estimate of a 0.2% decline from economists surveyed by Bloomberg. Spending at stores and restaurants unexpectedly bounced up, a brighter sign for an economy highly dependent on consumers.Elsewhere on the market, the Securities and Exchange Commission is set to approve the first US <a href="https://markets.businessinsider.com/currencies/btc-usd?utm_source=markets&amp;utm_medium=ingestgest">bitcoin</a> futures exchange-traded fund as soon as next week, <a href="https://www.bloomberg.com/news/articles/2021-10-15/bitcoin-futures-etf-said-not-to-face-sec-opposition-at-deadline">Bloomberg reported</a> late Thursday.Meanwhile, a China central bank official said the <a href="https://markets.businessinsider.com/news/bonds/china-evergrande-risks-controllable-first-comments-bonds-payment-debt-property-2021-10">ripple effects from the Evergrande Group crisis</a> that's roiled global <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> are "controllable," marking China's first comments since the property developer missed international bond payments last month. <a href="https://markets.businessinsider.com/news/currencies/nucypher-price-crypto-altcoin-rally-2-billion-market-valuation-2021-10">NuCypher, a little-known altcoin</a> that bills itself as a decentralized threshold cryptography network, soared by more than 1,000% and touched a $2 billion market cap. <a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">Gold</a> dropped 1.6% to $1,768.00 per ounce. The <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years">10-year Treasury note yield</a> edged up to 1.577%. Oil prices rose.<a href="https://markets.businessinsider.com/commodities/oil-price?type=wti?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest"> West Texas Intermediate crude</a> tacked on 1.1% at $82.17 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price">Brent oil</a>, the international benchmark, added on 0.9% to $84.73. <a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> surged 7.1% to $61,561.

Dow jumps as stocks notch weekly gains amid hopes for strong consumer demand, earnings season ahead

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NuCypher soars 1,134% in a single day as the altcoin touches $2 billion market valuation

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