FHE surges 600% in one month? From Mind Network's privacy narrative, see the true drivers behind this round of market movement

Recently, if you’re following the market, the name FHE (Mind Network) is hard to avoid.

Starting from around $0.015 in late November, and reaching a peak of over $0.14 in mid-December, the price has increased by more than 600% in just over a month. Despite the intense volatility during this period, the current price remains significantly above the initial range.

Questions also arise: What exactly is FHE rising for? Is it just short-term hype, or is there a structural logic behind it?

First, take a look at the market performance—why has the market suddenly paid attention to FHE?

This kind of increase is clearly no longer just normal volatility but has entered a phase of narrative-driven + capital concentration betting.

What is Mind Network? Let’s clarify the logic first

The key word for Mind Network is only one: Privacy Computing.

More specifically, it focuses on FHE (Fully Homomorphic Encryption) technology, which allows computations to be performed on data while it remains encrypted, without needing to decrypt the data first.

In the current Web3 context, this direction hits several hot spots at once:

• Rising privacy and compliance demands
• Integration of AI and on-chain data
• Cross-chain and cross-application data collaboration
• Data security gradually becoming a fundamental infrastructure issue

Mind Network aims to build a foundational capability: enabling AI, on-chain applications, and cross-chain systems to use data securely without exposing it.

Is this round of rise just hype around “privacy concepts”?

To put it simply, this FHE rally looks more like a concentrated release after multiple narratives stacking.

In other words, FHE’s rapid rise isn’t without reason; it just happens to be at the intersection of privacy + AI + small-cap structure.

Why is it rising so fast?

From a trading structure perspective, FHE’s path is quite typical.

• Early on, almost no one paid attention, with very low trading volume
• The first surge attracted short-term capital to test the waters
• After breaking through key price levels, it was seen as a “representative of the privacy mainline”
• Price rapidly surged, emotions amplified, trading volume exploded

Later, the market’s focus often shifts from “is it worth it” to “can it continue to rise,” which explains the increased volatility.

What’s next? Is there still room?

Here, it’s important to distinguish short-term and mid-term perspectives.

In the short term, FHE is already in a high-volatility zone. After continuous rises, profit-taking and short-term trading will become very intense, with rapid increases and decreases being normal, testing traders’ rhythm rather than conviction.

In the mid-term, whether FHE can go further depends on two key points:

• Whether Mind Network’s privacy computing can truly be implemented in AI, cross-chain, or real-world applications
• Whether FHE can shift from a “narrative target” to a “fundamental infrastructure-level valuation logic”

If it remains at the conceptual stage in the long run, the market will continue to be driven mainly by emotional cycles; only when clear ecological collaborations or real use cases emerge will its valuation approach change.

Summing up in one sentence

The 600% increase in a month for FHE is fundamentally driven by privacy narrative revival, rising AI expectations, and small-cap structure. It’s not entirely without logic, but it’s also far from entering a “fundamentals-led” stage.

At the very least, it’s clear that Mind Network and FHE have officially entered the market radar, and the next phase will be more about validation and realization rather than just storytelling.