Nano cryptocurrency is a replacement to Fiat currency which looks out to revolutionize the blockchain technology completely by bringing in the Zero-fee transactions in real time and removal of energy consumption along with work intensive overhead characteristics of bitcoin. It was introduced into the market as ‘Raiblocks’ in 2015 and later in 2018; it was rebranded to Nano. This rebranding brought the value of Nano a hike of about 40% in 24 hours. Nano uses Direct Acrylic Graph (DAG) algorithm and employs its technology called block-lattice architecture. The main benefits with Nano include – every individual is given their blockchain called account-chain, lesser storage of the amount of date, lower transaction times, Zero-transaction fee and Low energy consumption. Any transfer requires a sender’s and a receiver’s transaction. Once the transfer is complete, the receiving party signs a block for confirmation.
As per analysis from CoinMarketCap, Nano is ranked 45th largest cryptocurrency, and it’s market cap value is USD 126,659,062 for the 24h Volume of USD 10,961,651 on March 11 at 12:14 UTC which is higher than its relative values of USD 107,599,433 on February 11 by 17.71%. The market value of this cryptocurrency has been range bound between 120 million USD and 140 million USD with inconsequential highs and lows. The Mcap value of Nano reached its Lowest of USD 100,491,660 on February 06 and a peak of USD 134,984,449 on February 24 at 11:29 UTC. Although menial, the recent values show that the MCap values have been on the rise. The 20-day EMA also displays an uptrend on comparison with the present-day values. The differences between the values have progressed by 1.72 percent. This market trend puts the digital currency on a bullish pressure.
Focusing on the Nano/USD pair, the current value of this pair is USD 0.950549 at 12:14 UTC. The analysis on the pair shows that the MCap value and the USD have been running parallel to each other from the beginning of January 2019. The price value of USD rose to its all-time high on January 10 with the value of $1.07 which is 11.16% higher compared to its present-day value. This cryptocurrency reached its milestone between February 20 and February 24, as Nano rallied from a low of USD 0.889433 to a high of USD 1.01 which is 13.56%, a spectacular return within four days. Stats show that the price of BTC has been on a completely different track. The current value of BTC as on March 11 is 0.00024199 (12:14 UTC). Stats display the lows and highs of BTC’s price value – the low on February 06 with the value of 0.00022082 and a high on February 24 with 0.00024203. However, the price of BTC has been on a tide with sharp rises and falls. Bitcoin’s price was on an all-time high on January 26 with the value 0.00028979 which is 16.49% higher than its current price rate.
The 14-day moving average shows the values going uphill from $118,762,445 on February 25 to the current value with a 6.65 percent increase. Though the percentages of both the moving averages are minute, the MCsp’s trend that has been stable ranging bound gives bulls an upper hand. And, with bulls ruling the cryptocurrency’s market, it is investment time for the investors to get long term benefits. Traders can also take advantage of this rising market to earn a significant profit from their transactions. Investment from traders will increase the value of the cryptocurrency in the future.