Like most other cryptocurrencies, it has been a pretty good week for the Nano cryptocurrency. After the rebranding of Raiblocks to Nano, the currency has experienced some momentum. However, due to the recent "hacking" of BitGrail, Nano's price has taken a hit. it now seems that most of these losses have been recovered. There is still a lot of volatility in the market, but things look pretty good at the moment.
After falling from $ 12 to $ 8.5, many people did not know what to expect. It is obvious that volatility reigns supreme in the world of cryptocurrency, even if it has hardly been as intense as in recent weeks. With all the currencies taking a significant dive followed by a major rebound, it is virtually impossible to make sense of this industry at this time.
As for the price of Nano, it seems that a relief is on the horizon. Thanks to solid day-to-day gains on the USD and BTC pair, we are once again looking for a Nano price of nearly $ 9.5. If this trend continues, this value could very well reach $ 10 before the end of the day, although it is not unlikely that the profit takers will reduce the price a bit in the next hour or two. For the moment, it is always better to take profits before the market becomes acidic again.
With a strong gain of 14.68% in USD terms, things look pretty good for the price of Nano right now. We also see a nice uptrend in the XRB / BTC ratio, which translates into a gain of 13.13% in favor of the altcoin. It is important that altcoins also catch up with Bitcoin, as market dynamics will drop as the Bitcoin price train loses some of its steam. From the current appearance of things, it can happen much sooner than expected.
With $ 59.476 million in trading volume in 24 hours, things do not seem so impressive for Nano. To be more precise, all the alternative currencies have seen their volume of transactions drop in recent days, and it seems that Nano is no exception on this subject. For now, the volume is pretty solid, but things can still turn pretty fast.
Most of the trading volume of XRB comes from the Binance exchange right now. With its BTC and ETH pair, Binance dominates the landscape right now. Their pair of BNBs is also in the top five, separated by the BTC and ET markets of Kucoin. Once again, we do not see a Nano cash currency market, but that does not prevent this form of market from succeeding in the past. Rest assured, a limited currency market would send the price of Nano to new highs fairly quickly, at least for a few days.
For the moment, it remains to be seen what the future holds for Nano. With these current gains in place, things will become very interesting. After all, many people who will see a profit of 14%, will cash their Nano and move on to the next exchange. Those who buy at the moment can still make a good profit, because there is a real chance that the price of Nano will exceed $ 10 or even $ 11 later today.
Are you confident in a NANO recovery? ...I hope they come back strong!!