Nillion has just reassured the community after the NIL coin experienced unusual price fluctuations in the trading session on November 20. According to the latest announcement, the project affirmed that the entire system, team wallets as well as treasury wallets are completely safe, and no internal transactions that could lead to strong fluctuations in the market occurred. The Nillion network is still operating normally and is not affected by this incident.
Nillion representatives said they are conducting a comprehensive review of external factors that may have caused unusual price behavior, including liquidation data on exchanges, sudden fluctuations from the Derivative market, and the activities of some large wallets that show signs of concentrated trading in a short period of time. The investigation results will be announced as soon as they are completed to ensure transparency for investors.
Earlier in the early morning of November 20, the price of Nillion's NIL Token suddenly 'plummeted' from $0.186 to $0.082, marking a decrease of more than 52%. Currently, the price has recovered to $0.11, still significantly lower than the initial level.
Nillion is a decentralized computing network that processes and secures High Value Data (HVD) such as AI, biometrics, healthcare, personal identity, and financial transactions. Instead of requiring data decryption for processing like the traditional model, Nillion applies Multi-Party Computation (MPC) technology, allowing computation to be performed directly on encrypted data without revealing information.
