Ika (IKA) Research Report

Ika's Positioning and Significance

Ika (IKA) is the fastest parallel MPC network coordinated on Sui, representing a significant innovation in the multi-party computation (MPC) space. By leveraging parallel processing capabilities and Sui's high-performance blockchain infrastructure, Ika addresses the computational bottlenecks and latency issues that plague traditional MPC networks.

As of December 20, 2025, Ika has established itself as an emerging protocol with a market capitalization of approximately $22.79 million and a fully diluted valuation of $75.98 million. With 26,195 token holders and listing on 13 exchanges, Ika is gaining traction within the Sui ecosystem and the broader cryptocurrency landscape. This report provides an in-depth analysis of Ika's technical architecture, market performance, and future potential.

Origins and Development History

Background and Launch

Ika was created to address critical performance limitations in multi-party computation networks. MPC technology enables secure collaborative computation without requiring participants to trust each other or a central authority. However, traditional MPC implementations suffer from high latency and low throughput—significant obstacles to real-world adoption.

Recognizing these challenges, Ika was designed as a parallel MPC network built on the Sui blockchain. By coordinating operations on Sui's high-speed, low-latency consensus layer, Ika achieved unprecedented parallel processing capabilities. The project officially launched on December 20, 2025, marking the debut of a novel approach to scalable multi-party computation.

Token Launch and Market Reception

Ika's native token, IKA, launched with the following specifications:

• Total Supply: 10 billion IKA
• Circulating Supply: 3 billion IKA (30% at launch)
• Launch Price: Available for trading
• All-Time High: $0.42991 (reached September 8, 2025)
• All-Time Low: $0.00481 (reached December 9, 2025)

The token experienced significant volatility in its early months, reflecting typical market dynamics for emerging protocols during their discovery phase.

How Ika Works?

Decentralized Network Architecture

Ika operates on a distributed network of nodes coordinated through the Sui blockchain. Rather than relying on centralized servers or intermediaries, the network distributes computation and validation across multiple participants globally. This architecture eliminates single points of failure and ensures no entity can unilaterally control or censor the network.

Parallel MPC Framework

The core innovation of Ika lies in its parallel multi-party computation model:

• Multi-Party Computation (MPC): Enables multiple parties to jointly compute a function over their inputs while keeping individual inputs private. Only the result is revealed.
• Parallel Processing: Unlike sequential MPC systems, Ika processes multiple computations simultaneously, dramatically increasing throughput and reducing latency.
• Sui Integration: By leveraging Sui's high-performance consensus and fast finality, Ika coordinates MPC operations with minimal overhead, achieving near-instantaneous transaction settlement.

This combination creates a system where sensitive computations can be performed securely and efficiently without requiring participants to trust a central authority or expose their data.

Security Through Cryptography

Ika employs advanced cryptographic techniques to ensure transaction security and data privacy:

• Threshold Cryptography: Distributes control across multiple participants, requiring consensus to authorize critical operations.
• Commitment Schemes: Participants commit to their inputs before computation begins, preventing cheating.
• Zero-Knowledge Proofs: Enable verification of computation correctness without revealing underlying data.

These mechanisms work together to create a system where computations are mathematically verifiable, outputs are tamper-proof, and privacy is mathematically guaranteed rather than dependent on trust or operational security alone.

Network Consensus

Ika leverages Sui's Byzantine Fault Tolerant (BFT) consensus mechanism to coordinate MPC operations. Sui validators confirm transaction ordering and finality, while Ika's MPC nodes handle the actual distributed computation. This separation of concerns allows Ika to achieve high throughput without sacrificing security or decentralization.

Market Performance and Tokenomics

Current Market Data (December 20, 2025)

Price Volatility Analysis

Ika has experienced significant price fluctuations since launch:

• Highest Price: $0.42991 (September 8, 2025)
• Lowest Price: $0.00481 (December 9, 2025)
• Current Price from ATH: Down 82.3%
• Current Price from ATL: Up 57.9%

Short-term momentum shows mixed signals, with a -3.86% decline over the past hour but a +0.1% gain over the past 24 hours.

Token Distribution

• Total Supply: 10 billion IKA
• Circulating Supply: 3 billion IKA (30%)
• Remaining Unlocked Supply: 7 billion IKA (70%)

The significant portion of unlocked tokens represents future dilution risk but also indicates availability for ecosystem incentives and development support.

Ecosystem and Network Metrics

Exchange and Accessibility

Ika is listed on 13 cryptocurrency exchanges, including Gate.com, providing adequate liquidity and accessibility for traders. The 24-hour trading volume of approximately $456,000 indicates steady interest and trading activity.

Community and Adoption

• Token Holders: 26,195 unique addresses
• Blockchain: Sui Network
• Market Dominance: 0.0023% of total cryptocurrency market cap

Social Presence

• Official Website: https://ika.xyz/
• Twitter/X: https://x.com/ikadotxyz
• Whitepaper: https://cdn.prod.website-files.com/67161f6a7534fbf38021d68f/673dcee85cc0e67655ccf31e_Ika%20Whitepaper.pdf
• Sui Explorer: https://explorer.sui.io/address/0x7262fb2f7a3a14c888c438a3cd9b912469a58cf60f367352c46584262e8299aa::ika::IKA

Technical Integration with Sui

Ika is built natively on Sui and leverages its unique architectural advantages:

• High Throughput: Sui's ability to process thousands of transactions per second without layer-two solutions enables Ika's parallel MPC operations to achieve unprecedented speed.
• Low Latency: Sui's fast consensus finality (typically within seconds) minimizes coordination overhead in Ika's distributed computation model.
• Object-Centric Model: Sui's programming model is well-suited for representing MPC state and computation results as first-class objects.
• Rich Asset Paradigm: Ika can leverage Sui's native support for complex asset types and ownership models.

This tight integration positions Ika as a native member of the Sui ecosystem rather than a bridged or wrapped protocol.

Investment Considerations

Potential Advantages

1. Novel Technology: Parallel MPC on a high-performance blockchain addresses a genuine technical gap.
2. Sui Ecosystem Growth: As Sui's user base and transaction volume expand, demand for Ika's computational services could increase substantially.
3. Early Stage: At market cap under $25 million, Ika remains significantly smaller than established layer-one and layer-two solutions, offering potential for growth.
4. Active Development: Continuous whitepaper and protocol documentation indicate ongoing refinement.

Risk Factors

1. High Volatility: 72% price decline over one year demonstrates extreme volatility typical of early-stage projects.
2. Token Concentration: 70% of tokens remain unlocked, creating significant dilution risk as they enter circulation.
3. Limited Adoption: Relatively small holder base (26,195) and modest trading volume suggest limited network effects to date.
4. Sui Dependency: Ika's success is directly tied to Sui's adoption and performance. Any challenges to Sui could negatively impact Ika.
5. MPC Market Uncertainty: The market size and commercial applications for parallel MPC technology remain unproven.

Conclusion

Ika represents an innovative approach to combining multi-party computation with high-performance blockchain technology. By leveraging Sui's architecture and creating a parallel MPC network, Ika addresses real technical limitations in distributed computation.

However, as an early-stage protocol, Ika faces significant risks including extreme price volatility, token concentration, and unproven market demand. Investors should conduct thorough due diligence, understand the technology deeply, and only commit capital they can afford to lose.

For those interested in Ika, trading is available on Gate.com and 12 other exchanges. The project's success will depend on its ability to attract developers, establish product-market fit for MPC applications, and maintain innovation as the cryptocurrency landscape evolves.

Disclaimer: This report is for informational purposes only and does not constitute investment advice. Cryptocurrency investments carry substantial risk, including the potential loss of principal. Past performance does not guarantee future results.

Ika (IKA) Market Performance Report

Market Performance Overview

Circulating Supply Overview

As of December 20, 2025, Ika's circulating supply stands at 3,000,000,000 IKA tokens, with a total supply of 10,000,000,000 IKA tokens. The circulating supply represents 30% of the total supply, indicating a phased token release mechanism that affects supply dynamics and market availability.

Price Volatility

Ika reached its all-time high price of $0.42991 on September 8, 2025, reflecting strong market momentum during that period. Conversely, the token's lowest price was recorded at $0.00481 on December 9, 2025, representing a significant market correction. As of the latest update on December 20, 2025, IKA is trading at $0.007598, with a 24-hour price range between $0.007346 and $0.008861.

The recent price action shows substantial downward pressure, with the token declining 3.86% in the past hour, 0.1% over the last 24 hours, 13.11% over 7 days, 31.20% over 30 days, and 72.23% over the past year.

Check current IKA market price

Market Capitalization and Valuation

• Market Capitalization: $22,794,000
• Fully Diluted Valuation (FDV): $75,980,000
• Market Cap to FDV Ratio: 30%
• 24-Hour Trading Volume: $456,378.97
• Market Dominance: 0.0023%

Token Holders and Network Activity

The IKA token is held by 26,195 addresses, indicating a distributed holder base. The token is currently listed on 13 exchanges for trading, providing multiple entry and exit points for participants.

The token operates on the Sui blockchain, leveraging Sui's infrastructure as its core settlement layer.

IKA Comprehensive Research Report

Executive Summary

IKA is the fastest parallel MPC (Multi-Party Computation) network coordinated on Sui. As of December 20, 2025, IKA is trading at $0.007598, with a market capitalization of $22,794,000 and a fully diluted valuation of $75,980,000. The token has experienced significant volatility, trading within a 24-hour range of $0.007346 to $0.008861, with a year-to-date decline of -72.23%.

Market Overview

Price Performance

Supply Metrics

• Circulating Supply: 3,000,000,000 IKA (30% of total)
• Total Supply: 10,000,000,000 IKA
• Maximum Supply: 10,000,000,000 IKA
• Market Cap: $22,794,000
• Fully Diluted Valuation: $75,980,000
• Market Dominance: 0.0023%

Trading Activity

• 24H Trading Volume: $456,378.97
• Available Exchanges: 13 platforms
• Token Holders: 26,195

Historical Price Levels

• All-Time High: $0.42991 (September 8, 2025)
• All-Time Low: $0.00481 (December 9, 2025)
• Decline from ATH: -82.35%

Project Overview

Core Technology

IKA operates as the fastest parallel MPC network coordinated on the Sui blockchain. The project leverages Sui's infrastructure while providing enhanced computational capabilities through multi-party computation protocols.

Blockchain Integration

• Underlying Chain: Sui
• Contract Address: 0x7262fb2f7a3a14c888c438a3cd9b912469a58cf60f367352c46584262e8299aa::ika::IKA
• Network: Native Sui integration

Official Resources

Primary Information Sources

• Official Website: https://ika.xyz/
• Whitepaper: Ika Whitepaper
• Block Explorer: Sui Explorer

Social Media Presence

• X (Twitter): @ikadotxyz

How to Purchase IKA

1. Trading Platform: IKA is available on Gate.com and 12 other cryptocurrency exchanges
2. Current Availability: Listed across 13 exchange platforms globally
3. Trading Pair Information: Check Gate.com for current trading pairs and liquidity

Market Position & Ranking

• CoinGecko Ranking: #812
• Market Share: 0.0023%
• Circulating/Max Supply Ratio: 30%

Conclusion

IKA represents an innovative approach to parallel computation on the Sui blockchain through its MPC network architecture. While the token has experienced significant volatility since its all-time high of $0.42991 in September 2025, the project continues to develop its technical infrastructure. With a market cap of $22.79 million and trading across 13 exchanges, IKA maintains an active presence in the cryptocurrency ecosystem.

The substantial decline from its ATH suggests either market correction or shifting investor sentiment. Potential participants should conduct thorough research through the official whitepaper and website before making investment decisions, and should be aware of the significant price volatility characteristic of early-stage blockchain tokens.

FAQ

What is Ika in Japanese food?

Ika is the Japanese word for squid and cuttlefish. It is a popular ingredient in sushi and other Japanese dishes, with varieties like aori, sumi, and hotaru ika being highly prized for their quality and flavor.

What does Ika mean?

Ika is a Japanese name meaning 'fragrant Italy' or 'fragrance of Italy,' suggesting something pleasing and exotic. In the crypto context, IKA represents a unique digital asset token within the Web3 ecosystem.

What is the meaning of Ika Nga?

Ika Nga is a Tagalog particle meaning 'as the saying goes'. It is used before or after proverbs, adages, or clichés to introduce traditional sayings and expressions in Filipino language.

What food is Ika?

Ika is a type of squid commonly used in Japanese cuisine, particularly in sushi. It is typically served as nigiri or sashimi, offering a tender texture and mild seafood flavor that makes it a popular choice among sushi enthusiasts.