Before we talk about NANO cryptocurrency price prediction, let’s talk about what exactly is NANO. NANO (previously known as Raiblocks) is one of the top cryptocurrencies in terms of speed and gas fees. Due to its block-lattice structure and its utilization of Directed Acyclic Graph (DAG), NANO is more efficient and needs less verification time compared to the majority of cryptocurrencies out there. During the test speed done by Natrium mobile wallet, NANO transaction can take less than 1.5 seconds. That’s an impressive feat considering the likes of Bitcoin and Ethereum always needs more than a minute.
What is even more impressive, NANO transactions are feeless. So, you don’t need to pay any kind of gas fees. In this article, we will discuss NANO’s position on the crypto market and NANO price prediction in the future.
What Makes NANO Special?
In our another article, What Is NANO, we explained how NANO is considered special by its fans. NANO core developers believe cryptocurrency main function is as a peer to peer payment as envisioned by Satoshi Nakamoto himself. However, the narrative has changed in the past few years, to be a ‘store of value’ or even as ‘smart contract platform’. NANO founder, Colin LeMahieu, has nothing against the store of value or smart contract platform. That being said, he believes for his own cryptocurrency, NANO must do one thing right and be the best in that one specific thing. And that simple thing is about moving money.
That’s why NANO has only one function, but it’s so good at doing that function. It’s arguably faster than other so-called speedy cryptocurrencies including XRP and XLM. It’s also feeless, so it’s much more scalable than the likes of Bitcoin and Ethereum.
NANO Current Position With The Cryptocurrency Market
Currently, NANO is trading at ~$1.02, and it is ranked 44th in the CoinMarketCap’s crypto rankings by market valuation. Before the rebranding, when the name was still RaiBlocks (and the ticker was still XRB), this coin was valued at a much better position. XRB was inside the top 20 crypto rankings at one point, but the 2018 bear market really got into them, and now NANO has lost the popularity that it had.
Just like most of the other top 50 cryptocurrencies out there, NANO’s biggest volume can be found on Binance for trading pair NANO/BTC. NANO is also available on Mercatox and Coinbene, but the volumes are not even close to NANO’s volume on Binance.
NANO Cryptocurrency Price Prediction 2019 and 2020
It’s hard to predict where NANO is going to end up, but most likely, NANO’s movement in the market will be decided by two factors, how Bitcoin performs against USD and how altcoins perform against BTC. Currently, Bitcoin is dominating the crypto market by 68.32%, and there’s no sign of stopping anytime soon. With Bitcoin’s reward halving in 2020, it’s very likely Bitcoin won’t lose any of its dominance until then. However, once the altseason starts, it’s possible NANO will regain its popularity in the eyes of crypto traders like it once was in late 2017 and early 2018.
Fundamentals of NANO and The Impact On Price Prediction
Fundamentally, NANO has really good potential to be one of the top cryptos in the future. NANO has the right recipe to be the best peer to peer cryptocurrency. And of course, when big traders start realizing the potential of NANO, it’s possible NANO will rise significantly in the crypto market rankings.
There are rumors that the NANO core team would start big marketing efforts once they finish with the v20 of development. It is possible that NANO would start moving independently out of other altcoins and get back to top 20-30 crypto rankings once the marketing happens. NANO is one of the not-too-many cryptocurrencies that actually work well. It’s interesting to see what the future holds for NANO whatever happens to its price in 2019 or 2020.
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