While the entire market made significant gains yesterday, Nano (Nano)’s performance was above the norm, pushing up by over 25%. . Its massive gains were driven by the launch of fiat pairing for Nano by U.K exchange, LBX. But this pump is not just market excitement, it goes to show that there are altcoins that are worth way higher than their current valuations but are drawn down by Bitcoin (BTC)’s price swings. Nano (Nano) is one such crypto. Valued on its own merit, Nano (Nano) coin is without a doubt worth a lot more than $1 – $2 a coin. Nano’s fundamentals, without the heavy influence of bitcoin, could give it a valuation of $100 a coin, easy. Why is that?
Well, first, it has attributes that could see it gain adoption as an everyday currency. It is fast, feeless and highly scalable. These are attributes that make it a worthy competitor to fiat payment methods including credit cards. On top of that, it has a use case in IoT, which is the tech of the future as the world leans more towards automation and AI. It is estimated that the IoT market will be worth at least $5 – $10 trillion by the year 2025.
That’s a huge market that would give Nano a valuation that is upwards of a trillion dollars, with just a fraction of this market. This is value that is held back by the heavy ties that the altcoin market has to bitcoin. As such, with more fiat pairings, Nano (Nano) could continue to make gains of the magnitude it has made today, and push up it to a valuation that is upwards of a $100 a coin.
But the correlation between fiat pairings the potential exponential growth of Nano (Nano) is not just speculative. It is something that has been demonstrated in the market already by the consistent rise of Metaverse (ETP) for 4 months straight even as the rest of the market has remained relatively depressed. Metaverse (ETP) is up by over 400% largely because most of its trading is in fiat. Similarly, high value coins like Nano (Nano) stand a good chance to take a similar trajectory without the heavy connection they have to bitcoin on exchanges. The biggest problem with the current market setup is that a project like Nano (Nano) is at the mercy of a volatile crypto that is not as efficient.
But there is hope for the future. More exchanges are offering fiat pairings for crypto trading. By 2019, most altcoins will be trading against fiat, and it will have a huge impact on good cryptos such as Nano (Nano). The market may be trading at massive discounts from 2017 highs, but for those who are brave enough to wade through the storm, the payoff could be unprecedented. It has already given pointers to this with an over 25% jump in just under 6 hours. It’s a sign of great things to come in the future.