THELOGICALINDIAN - n-a
The Nano bazaar cap surged by about $100m in the accomplished 24 hours, authoritative it one of the arch agenda assets in the bazaar this morning as Version 16.0 of the bulge software launched.
Nano opened on Wednesday at $1.80, afore biconcave to a account low of $1.63. This trend aback antipodal at about lunchtime GMT, with the bread aloof beneath the $2 mark by the end of the day. This advancement trend connected in the aboriginal hours of Thursday; Nano is trading at $2.27 at the time of writing.
Although an accession of beneath than a dollar, this contempo amount access has played out ample on the coin’s bazaar cap. From a low of $217m bygone afternoon, the Nano bazaar cap has surged to aloft $300m: a 36% increase. If the access continues at its accepted rate, the bread could acceleration aloft $3. Although the Nano amount acicular aftermost anniversary to $3.20, the aftermost time it maintained a abiding akin aloft the $3 mark was aback at the alpha of June, added than three months ago.
Plus for the Nano bazaar cap, not for the bulls
Rather than the bequest architectonics begin in best accepted cryptocurrencies, the Nano arrangement uses a blockchain filigree anatomy area anniversary user about has their own blockchain, interlinked and fabricated accordant with the added chains on the network.
This makes affairs on the arrangement fast. Data calm by Anything Crypto begin that the acceptance time for appointment Nano bill from one barter wallet to addition was about 3 seconds. This makes it one of the fastest cryptocurrencies out there, with only ICON (ICX) hardly faster at about 2 seconds.
Although Nano fell to its annual low of about $0.85, it was still the best performing cryptocurrency for August. The bread rose by over 70%, finishing the ages at over $3.
There may able-bodied be area for optimism based on today’s performance, but the amount indicators acrylic a altered picture. Nano’s 200-day moving average is still way aloft the 50-MA; so are the exponential affective averages, which places added weight on contempo prices. This suggests the contempo access still lacks acceptable drive to accomplish a apparent difference.
The advancement trend will charge to abide for a while best afore Nano displays able bullish signs.
Disclaimer: The columnist is not invested in any cryptocurrency mentioned in this article, but holds investments in added agenda assets.
