This week has continued the declining trend that is taking place now for months [since the beginning of the year], however some currencies are battling hard to maintain their nose above waters.
One of the coins that is making quite the hype around the community and many well-known analysts is the rebranded Nano [Token NANO – from Raiblocks] as today it was not included in the selling-wave while increasing for 5% in the last 24-hours and flying past the $10.50 mark. Three days ago, it was trading at approx $8.70 that showcases a 25% increase while leading coins are still struggling to balance bears and bulls.
Other exceptions are NEM with a strong 16.30% gain [as Coincheck did announce and commence refunding the users after the famous hack], VeChain with 5.90% increase.
With so many coins, coinmarketcap lists around 1500, and the strong up-down movement it is clearly very difficult to make decision as to which digital currency should be held on the wallet on long-term-status investment. In this interminably growing market, volatility is inevitable and sooner or later every coin is likely to face some drastic downfalls in their corresponding prices or in contrary increase.
That is a strong factor that supports motivations behind teams to plan out and design unique features for individual coins that they are introducing to the ecosystem which potential could help increase the price or recover from any loss. When it comes to that, Nano is a name that should be highlighted out as it dash upward the market cap list to the top 20 and now it is performing very stable compared to many-many other cryptocurrencies.
Nano in the beginning was introduced to us crypto-enthusiasts as RaiBlocks [XRB]. However, individuals around the globe did find difficulty to pronounce or remember the name which concluded with the team rebranding it to Nano [NANO]. The move did not only make it easier to remember the coin, but even the whole market felt its upsurge as it hoisted the total market cap to nearly 1.3 bil USD. Such a simple and very smart solution showcases that the team in future will get through hindrances in the future easily.
Overall Nano is respected and famous for its innovative technology, as mentioned by Charlie Lee – creator of Litecoin, that had a positive impact in general in the market and especially the coin itself. Nano’s whitepaper got huge appreciation from Charlie Lee because of its innovative technology and functionality as a cryptocurrency. In his personal Twitter account, Charlie Lee praised this coin with clarifying explanations of various issues.
I took a look at Nano currency recently. Pretty neat. Every account has it's own blockchain. It focuses on fast and free transactions for payments. Uses PoS for double spend protection and PoW to fight spam. The challenge is to keep it decentralized.
Disclaimer: I own some NANO pic.twitter.com/ygt5OltpN1
— Charlie Lee [LTC] (@SatoshiLite) February 28, 2018
The team behind Nano did not stop only with that. They are releasing an Android digital currency wallet, despite that there are already wallets in the market. The app is on its alpha testing, but the moment it is out – a significant number of traders are expected to use Nano and its efficient android wallet eventually leading to its price surge on Coinmarketcap.
Recently Twitch started accepting Nano as a valid currency from its subscribers. This streaming platform has currently more than 10,000 subscribers and it is likely to increase even more in future.
If everything holds up as it is right now like partnerships, listing, the launch of the wallet and many other factors, it would be very possible that Nano is most likely to experience a very successful year.