What PolySwarm is
PolySwarm (NCT) is a Layer-1 smart-contract platform, currently ranked 446th by market capitalization among the assets we track. PolySwarm is a Layer-1 smart-contract platform secured by proof-of-stake: validators lock NCT as collateral, and the protocol slashes anyone who misbehaves. The token is simultaneously gas, collateral, and a claim on staking yield.
PolySwarm (NCT) is a decentralized threat intelligence marketplace that incentivizes researchers to detect and combat malware and cybersecurity threats. It leverages a unique ecosystem where users can buy and sell threat detection services.
How consensus and the token economy connect
Validators propose and attest to blocks; honest behavior earns rewards, dishonest behavior burns the stake. That feedback loop is what lets PolySwarm finalize transactions without miners.
NCT is not mined; it is issued as a token rather than secured by its own mining or staking layer.
Background & fundamentals
PolySwarm operates under a centralized structure, which concentrates protocol decisions in an identifiable issuer or foundation. PolySwarm lists a documented core team of 7, so the people behind the project are at least named on the record. Its codebase is open-source, meaning the implementation can be audited rather than taken on trust.
The project publishes a whitepaper documenting its original design, which is worth reading before sizing any position in NCT. CoinPaprika classifies the project's development status as "Prototype / MVP". In sector terms it is most often filed under Platform, Smart Contracts, and Ethereum (ETH) Token (ERC-20).
Where PolySwarm sits in the market
Trading around $0.00991500, PolySwarm carries a market capitalization of $18.69M. Around $1.19M changes hands across exchanges in a typical 24-hour window. That is a turnover of about 6.39% of the float — a healthy level of activity for an asset this size.
PolySwarm carries no fixed maximum supply; issuance follows a programmatic schedule rather than a hard cap. NCT remains -94% beneath its all-time high of $0.1702, the kind of gap that historically takes a full cycle or a fresh catalyst to close.
What the price history shows
The tape currently reads 24-hour -21.05%, 7-day -13.09%. Within its stored 366-day daily history, NCT mounted a low-to-high run of roughly 74% at its strongest stretch.
Volatility profile
Recent action puts PolySwarm in the Extreme-volatility band — it is in a high-volatility regime — these are the conditions where outsized gains and losses both become more likely.
How to evaluate PolySwarm
For an asset of this type, three lenses matter most:
- Real usage — active addresses, fees paid, and total value locked — does on-chain demand justify the valuation?
- Staking economics — the share of NCT staked, the yield, and unlock/queue dynamics that govern liquid supply.
- Ecosystem depth — how many applications and how much liquidity have chosen PolySwarm over competing Layer-1s.
This page pulls live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model into one view so you can work through those questions in a single place. None of it is investment advice — it is a structured starting point for your own research.
