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
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…