In the past couple of weeks, NANO seems to be struggling for support. After the gloomy daily performance, the most important task for the coin was to take back the lost support. With plenty of new updates in the last few days, NANO managed to bounce back.
Because of tumultuous and unpredictable nature of cryptocurrencies, institutional investors may look cautious. However, with utmost faith in the technical prowess of the NANO team, for the anticipated future coin will continue to have some fairly accurate value.
Although the probability of it is very low, with a complete focus on technology and the development of NANO ecosystem, the team might surprise everyone.
Not being praised for their poor marketing of the brand, NANO, stands a very slight chance to compete and beat the other giants. Their strategy, “Build it, and they will come” neglects all the other business aspects of the project. Intending to revolutionize the world economy, by creating an open and accessible network that is super fast and fee-less, NANO has become a smart platform and steadfast store of value.
At the beginning of the year 2019, NANO price in market cap was recorded 121,142,008 USD. It has shown slow but steady growth to 234,308,510 USD till May 28, 2019. A 24h volume is 17,377,330 USD. And its price has grown impressively to $1.76 from $0.905. It is quite commendable that NANO is trading up by 1.34% against the USD and 1.61% against BTC in the slow market. ROI >9000% seems very lucrative. It has been ranked at number 38th position currently and has a circulating supply of 133,248,289 coins.
The prominent leader of cryptocurrency is Bitcoin in every possible way, and its price movement affects every coin in the market.
According to Binance trader on cryptobriefing.com, for NANO, more than 60%of its trading volume comes from BTS trading pair. Another 10% comes from Binance’s USDT pair, causing the NANO price to increase by 4%.
Hence, even if it’s too volatile and unpredictable to forecast the price for cryptocurrencies, there are many investors who favor NANO.
With Bitcoin being the central point of cryptocurrency, it has been mostly accused of delayed payments and charging very expensive fees. NANO aims to become what Bitcoin is not, an ideal, zero transaction fees fiat currency. This year they have started with offering more options to traders. From booking hotels, flights to paying for food and services and so much more.
The trend shows that even if you are not too eager to buy the new NANO coins, it might be very profitable to hold the ones you already have.