Price Analysis

Nano (NANO): Business Extension & Market Penetration is Major Hurdle for the Altcoin

eToro

Nano (NANO) is a low-latency, high-performance cryptocurrency that is built upon a block-lattice data structure. Formerly known as RaiBlocks, Nano (NANO) allows the unlimited extension of the blockchain at zero transaction fees. Additionally, Nano protocols can be fully integrated with low-power hardware, making it practical for everyday use. On top of that, Nano is one of the primitive cryptocurrencies that work on a Directed Acyclic Graph (DAG) protocol. Whenever there are any conflict in Nano (NANO) transactions, it is resolved via a balance-weighted vote protocol which further allows for quicker and more deterministic transactions. Maintaining a strong, decentralized system without the need for high-power mining hardware is a major achievement of Nano developers. In order to transact in this altcoin, each account has an individual blockchain and eliminate its access issues independently, while dealing with the inefficiencies of a global data structure at the same time.

NanoAccording to Coinmarketcap, on April 25, at UTC 06:04, Nano (NANO) was trading at 1.77 USD with a total market capitalization of 235,637,646 USD. In comparison to BTC, it was valued at 0.00032566 per chip. Moreover, Nano’s last 24 hours trading volume was approximately 12,149,642 USD. At present, it is ranked at 32nd position in cryptocurrency chart. On March 31, 25-days back, Nano (NANO) was trading around $1.10, and since then the value of altcoin made a huge jump off, and today at the above said time it was trading with an unprecedented bounce back of 60.9%.

eToro Crypto

Few important statistics related to Nano (NANO), which might help you in trading:

  • Yesterday’s High / Low                            1.94 USD / 1.70 USD
  • Yesterday’s Open / Close                         1.94 USD / 1.79 USD
  • Yesterday’s Change                                  -0.159315 USD (-8.19%)
  • Yesterday’s Volume                                  13,861,624 USD
  • All-Time High                                           37.62 USD (Jan 02, 2018)
  • All Time Low                                             0.006658 USD (Mar 10, 2017)

Nano (NANO) price prediction:

The developers of Nano (NANO) has a well-defined and interactive roadmap for the Q2 of 2019 than many other crypto projects. In addition to that, they allow users to explore the nuances of their plans. And looking at the track record of Nano developers, there is little doubt that they will deliver on the plans, at least the technology part. However, the question that persists is will it be enough for Nano to survive and thrive without a massive business side push? Only time will tell us that. From the technology perspective, NANO looks solid and unique in dealing with archetypal blockchain problems like scalability and decentralization. Nevertheless, in terms of market penetration and business growth, Nano seems to be lackluster. Now coming to the price analysis part, many analysts suggest that if Nano is able to deliver on all the promises, its value may rise to $3 by the end of 2019.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button