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NANO Price Soaring, Up By 12%, What’s Triggered The Surge?

18 october 2018, 14:17 by John Kiguru

NANO Price Soaring, Up By 12%, What’s Triggered The Surge?

On October 17, the market was mixed with coins in the red zone and in the green zone. The day has also seen some coins soar by over 20% and in particular 0x. For 0x, the surge was triggered by a new listing on Coinbase. Now although NANO has not recorded as such impressive numbers as 0x, it is still one of the best performing coins of the day.

NANO has recently surged by 13.29% in couple of days and is trading around $2.09. This positive momentum has now seen the coin recover from last week’s plummet. Before last week’s crash, the coin was trading at around $2.12. The crash, however, saw it trading at around $1.88 where it has remained up until today. The coin is now just shy of the position it was before the crash. The question now is if it will be able to find support at the newly found position or will the bears take over again?

NANO/USD Price Chart, Thursday October 18th:

NANO Price Chart, October 18th

What Triggered The Price Increase?

The price surge follows an announcement by the team. According to the team and data provided by Bitcoin Kit, NANO is the fastest cryptocurrency for depositing money on an exchange (specifically tested on Binance). This makes NANO faster than more established cryptocurrencies like Bitcoin, Ethereum and Ripple. The coin even beats Stellar by 3 seconds and this is one of the few coins designed to bridge the gap between fiat and cryptocurrencies. This speed, coupled with its feeless attribute is bound to see the coin seal its position in the market.

This means that as people get more interested in cryptocurrencies, NANO will become a more popular choice to exchange their money for cryptocurrencies. This will increase the demand for NANO and could see it continue to soar. This also means that there’ll always be a use for the coin, and as long as this is the case, it will continue being popular.

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