Nillion's NIL Dips 12% After Debut; Analyst Believes Network's 'Blind Computing' Holds Promise for Data Privacy, AI

The NIL token is the governance cryptocurrency of Nillion, used to pay network fees for blind computation and payments, and is designed to drive demand as usage scales.Nillion's native token NIL has dropped 12% drop in market value in the first 24 hours despite being listed by major exchanges, including Bithumb.

Nillion uses a unique 'blind computing' approach, allowing computations on encrypted data without exposing it, which is particularly beneficial for high-value data storage and computation.

The blind computing is pivotal to AI boom, per observers.The NIL token is the governance cryptocurrency of Nillion, used to pay network fees for blind computation and payments, and is designed to drive demand as usage scales.Private computation and storage network Nillion, dubbed the "blind computer," debuted its mainnet and native token NIL on Monday.

However, the token's market capitalization has dropped 12% in the first 24 hours alongside continued listing by major exchanges, including South Korea's Bithumb and optimism in the analyst community about the project's long-term prospects.

However, the token's market capitalization has dropped 12% in the first 24 hours alongside continued listing by major exchanges, including South Korea's Bithumb and optimism in the analyst community about the project's long-term prospects.

NIL debuted with a total supply of 1 billion, of which 19.52% or 195.15 million NIL were airdropped to the community on the first day, resulting in an at-inception market capitalization of just over $165 million.

Since then, its market value has dropped 12% to $144.93 million, with the token changing hands at 74 cents on major exchanges, such as Binance, Gate.io, MEXC, Bitget and others, according to my search .