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Reasons Why Nano Might Lead the Cryptocurrency List in the Future

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Nano

By the end of 2017, the entire cryptocurrency market underwent massive downfall in terms of market capitalization as well as the value of individual tokens. With a few exceptions, most of the digital currencies were more or less affected by this phenomenon including cryptocurrency giants like Bitcoin, Ethereum, Monero, Litecoin, etc.

As per current scenario, there are nearly 1800 virtual currencies available in the market among which more than 1500 coins are listed on Coinmarketcap. This number, however large it might seem, would not be constant. Instead, it is likely to increase rapidly in the coming months and years as more initial coin offerings or ICOs would be tokenized. In this interminably growing market, volatility is inevitable and sooner or later every coin is likely to face some drastic downfalls in their corresponding prices.

Under such circumstances, every individual cryptocurrency has not only to present some inherent unique features to increase the number of users but also has to possess the potential to recover quickly from a drastic loss. When it comes to quick recovery, the name of cryptocurrency Nano must be mentioned as its price got doubled (from 7 USD to 15 USD) within a matter of few days by the end of February 2018. This coin currently holds the 19th position on Coinmarketcap with a steady uptrend. Here, you would find out a few factors and incidents that might cause a significant upsurge in both individual price and overall market capitalization of this coin.

Factors that are Bolstering Nano’s Position:

A coin can experience a sudden augmentation in its popularity for a considerable number of reasons. These reasons can vary from an insignificant change in the official logo to implementing new software programs. For this cryptocurrency, such reasons include:

  • A Change in Nomenclature: Nano previously came into the market named as Raiblocks (XRB). The problem with the former name was that many traders across the globe found it difficult to pronounce and remember its slug. This incident significantly affected the overall popularity of this coin and eventually its circulation. At the beginning of February 2018, the Raiblocks team changed the name into Nanocurrency (NANO) to improve their position in the market and it worked like a charm. Within a few weeks, the price of Nano surged 38% lifting its overall market cap to nearly 1.3 billion USD. It is expected from a development team who can come up with such ingenious solutions to get through future hindrances quite easily.
  • Positive Feedback from Crypto-Experts: In cryptocurrency market, the comments or reviews of cryptocurrency aficionados and experts like Charlie Lee (founder of Litecoin), make a considerable impact on the digital currencies as they decide the market sentiment and trend for certain coins. Nano’s whitepaper got huge appreciation from Charlie Lee because of its innovative technology and functionality as a cryptocurrency. In his personal Twitter account, Charlie Lee praised this coin with clarifying explanations of various issues. Such positive comments from renowned crypto-experts are likely to contribute to this coin’s future.

  • Imminent Release of Android Wallet: Since using a Smartphone has become a de rigueur in modern society and the majority of people use this technology vehemently, releasing an Android cryptocurrency wallet is a judicious move to rapidly increase the popularity of a particular currency. Despite the fact that there are already available wallets of Nano in the market, the development team of Nano had already announced finishing the alpha testing of this wallet. Once this wallet is released, a significant number of traders are expected to use Nano and its efficient android wallet eventually leading to its price surge on Coinmarketcap.
  • Support from Twitch: Twitch is a well-known game streaming platform owned by Amazon. Recently Twitch started accepting Nano as a valid currency from its subscribers. This streaming platform has currently more than 10,000 subscribers and it is likely to increase even more in future. So, the support from Twitch might contribute to Nano’s increased circulation and popularity.

The Listing on Coinbase Exchange:

Since Nano’s community got rewarded by the Binance exchange for being the best cryptocurrency community, there has been a speculation regarding its listing on Coinbase. Coinbase belongs to the group of most frequently used currency exchanges around the world and so far has listed a considerable number of currencies. Although a significant number of traders deem that Nano still has a long way to go before it gets listed on Coinbase, others are quite hopeful about this. If the listing occurs eventually, it will provide Nano the right amount of exposure it requires to become a major cryptocurrency.

How 2018 should turn out for Nano?

Keeping the volatile nature of cryptocurrency in mind, it is impossible for foretell the future of any cryptocurrency. But still, with the right set of information and imminent events, a probable future can be predicted, even if it is not very accurate. As per the data of 11th March 2018, Nano has a market cap of nearly 1.4 billion USD with an individual value of $10.66.

If its current recovery and other factors like lucrative partnerships, listing, and launching of wallets are considered, Nano is likely to experience a successful 2018. Moreover, with the presence of an efficient development team, this cryptocurrency might lead the list of top digital currencies as well.

We will be updating our subscribers as soon as we know more. For the latest on NANO, sign up below!

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. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of phn via Flickr

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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