PolySwarm (NCT): What It Is, Uses and Risks

PolySwarm is described in public materials as a decentralized cybersecurity platform that uses blockchain to reward people who detect threats, such as malware. The project's marketplace is the core of the network, where contributors and buyers of security data meet. NCT is the token tied to that platform. One search result says the project launched in 2018 with an ERC-20 token called Nectar, which uses the NCT ticker and was meant for cybersecurity professionals and companies. Our token data does not include a launch date or project description, so the 2018 date should be read as a reported claim rather than a verified fact. Beyond these summaries, we cannot confirm how the network is governed or who runs its development.

Public descriptions say NCT is used to reward threat intelligence providers and to give access to security data services. One description calls it a utility token that powers the PolySwarm Marketplace. A utility token is meant to be used inside a product, rather than representing a claim on profits, but whether that holds in practice depends on how the platform works. Our facts do not list specific staking, voting or fee mechanics, so this page does not describe them. Anyone looking at the token's use should read the project's own documentation and check what the current platform actually does before assuming a role for the token.

As of 2026-11-05, the token traded at about $0.0079, with a market capitalization of about $14.9M and a rank of 997 among tracked tokens. Trading volume over 24 hours was about $213,901. The circulating supply is about 1.89 billion tokens, and the total and maximum supply are both about 1.886 billion, so nearly all of the supply is already in circulation. Over the past seven days the price was down about 6.9%, and over the past year it was down about 40.6%. The all-time high was about $0.172 on 2022-01-13, and the all-time low was about $0.0006 on 2020-04-26. These figures change constantly and are shown only as a snapshot.

The token data lists NCT as issued on Ethereum and Polygon rather than as the native token of a blockchain of its own. Both versions follow the same token standard, so they are the same asset in concept, but each copy lives on its own network. Moving tokens between Ethereum and Polygon requires a bridge or a centralized exchange that supports both networks, and each step adds its own risk. Before sending or receiving NCT, check which network you are using, because tokens sent to the wrong network can be hard or impossible to recover. Category labels in our data include Polygon Ecosystem, Ethereum Ecosystem, Cybersecurity and Made in USA, which describe how the token is classified rather than how it performs.

NCT's price has been volatile. A search result reported a sharp rise of about 200% after a listing on a Korean exchange in August 2026, with Korean won trading scheduled to begin. Price spikes tied to listings or news can reverse quickly, and the token is well below its 2022 high. Smart contract bugs, bridge failures and scam tokens that copy the name or ticker are also common risks in this space. To store NCT, use a self-custody wallet that supports ERC-20 tokens and the Polygon network, confirm the contract address from the project's official channels, and never share your seed phrase or private keys with anyone. Sending a small test amount first can help you catch errors. This is general information, not financial advice.