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NANO 70% Surge: Pump Effort?

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NANO (NANO) continues to be the fastest crypto in the world and has seen significant signs of recovery in the last several days. However, experts suspect that the new increase might only be a temporary thing that occurred due to a pump effort.

NANO so far

Without a doubt, 2018 has been one of the worst years for cryptos in a long while. A lot of coins have suffered great losses, but even by this year’s standards, NANO has had a really bad time. Its price dropped by almost 97% from its all-time high, which certainly did not do it any favors. However, the last couple of days have seen a surge of mostly positive development for this coin, and many believed that the fight is not over yet.

The story of NANO started a while ago, but the coin started attracting more attention at the end of 2017 when it exceeded $37. However, the steady progress was simply not meant to be, and as soon as the bear market started at the beginning of this year, NANO went down in one of the worst falls ever experienced. Within a few weeks, it dropped below $20. As the time went by, it continued dropping more an more, until its price went below $1. This is the situation that persisted all the way until the mid-August.

The fact that it was also at the center of a large hack that has seen the theft of $187 also did not help. Because of it, the exchange BitGrail, which was the target of the hack, accused the team behind NANO of failing to secure the coin. The NANO team responded by blaming the exchange for having poor security and being incompetent.

An unexpected price surge is just a concentrated pump effort?

However, the situation started to change recently, and NANO has seen a significant price surge, which brought it back from the dead, and it even managed to break the $2 barrier. The trading volumes jumped, and NANO even managed to hit $3.50 on Monday. The interesting thing is the fact that this price move is not related to the recent exploit of the NANO-specific marketplace, Nanex Exchange. The exchange was recently hacked through its wallet.

NANO also became the second most active trading pair on Binance, which has not happened ever since it was first added back in May. On Monday, when it reached its highest price in August, NANO took up over 8.8% of volumes, which came as a surprise to pretty much everyone.

In an attempt to determine what is causing the NANO surge, analysts discovered that it might all be just a result of a pump effort. This brought the attention to Telegram pump groups, which started offering early access to pumps. This is seen as a very risky move by many, since the customers may get the news too late, which will certainly cause them to experience losses if they jump on the opportunity at the wrong moment.

Despite the fact that NANO did not have a good run in 2018, its team still remains one of the most competent ones to this day. They are currently planning an update for NANO network, which is expected to help with improving traffic even more.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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Altcoins

Why Binance May Be Crucial for Tron (Trx) to Reach $1

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TRON
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TRON (TRX) has been one of the most popular crypto projects in the past year. The coin has received a lot of attention from the entire crypto community, and although the impressions may differ —  the fact is that TRX is one of the most talked-about coins, even today.

However, while the project managed to achieve a lot in less than a year — launch its MainNet, start multiple massive projects, launch dozens of dApps, hundreds of smart contracts, its own DEX, new token, and more — its price remains quite low. Undoubtedly, one of the reasons for this is its massive supply. TRX circulating supply is over 66 billion coins, while the total supply is over 99 billion.

Even so, the coin is believed to be massively undervalued, with its current price sitting at $0.028129, according to TradingView. This price, together with a market cap of $1.88 billion, pushed the coin out of the list of top 10 largest cryptocurrencies, and it currently sits at 11th spot. But, many believe that this is not a permanent position for TRON. In fact, its community believes that it is only a matter of time before TRON rises through the ranks, and its price hits $1. And, the way for the coin to achieve this is believed to be through Binance.

TRON and Binance

Binance is one of the world’s…

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Why Tron (TRX) Price Won’t Remain Low for Long

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TRON (TRX) has been one of the most popular cryptocurrencies in recent years. The project has achieved a tremendous amount of success in less than a year, and while the first birthday of its MainNet is approaching, TRON certainly continues to impress to this day.

With that said, its price is still noticeably low, and many would agree that the project is heavily undervalued. The low price even allowed other projects to push it out of the top 10 list, with TRX currently being the 11th largest cryptocurrency by market cap. However, it is likely that TRON will not remain undervalued forever, and that its price might soon see a surge that its entire community has been waiting for, for a long time now.

Why TRX might see growth soon

As many undoubtedly know, TRON is a lot more than just a cryptocurrency. It has developed a massive ecosystem, which offers a development platform for coins, smart contracts, and dApps. It also acquired BitTorrent last year for its Project Atlas, which will allow torrent users to earn crypto through participation in content sharing.

For this purpose, it also launched BitTorrent (BTT) token, which saw its launch on January 28, 2019 on Binance Launchpad. This was dubbed the most successful ICO in history at the time, although several coins launched since then have broken its record.

In addition,…

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