The crypto market has a had a bad run in the month of August and September with a handful of them shying away from the green territories, a scenario that saw the Bitcoin market dominance hit a high of 54.98%, a repeat what happened in December 2017. However, one Nano (NANO) coin managed to wither the storm and record gains of 73.80%.
The Nano coin came into the limelight after rated as the most “spent” coin on the Bitcoin Superstore alongside Bitcoin and TRON in the month of August. The coin accounted for 20% of the total volumes with Bitcoin leasing with 35% and Tron coming third with 17%.
The Superstore brings together over 200,000 online outlets and only accepts 10 digital coins and the statistics have seen increased usage of NANO and this has had had a positive impact on the price of the coin due to its demand in in the market, However, the project team is has been working towards increased adoption.
Lawsuit against Nano Dismissal
The dismissal of Brola lawsuit dismissal against Nano coin has seen the price of NANO get a new lease of life in the last 24 hour trading period. This comes three days after the platform posted on their Medium blog breaking the news that Silver Miller has done away with a lawsuit on violation of securities regulations.
According to the blog, the class action lawsuit did not have enough grounds to make it stand hence its withdrawal. Immediately after the after the news, the team updated the community on the platforms progress indicating that the issues raised by the lawsuit claims have been addressed.
“This allows accounts to chain to the Genesis block of the network with minimal ad-hoc votes, and only if a node is interested in that account in the future! Real-time voting will be entirely passive. This means that most blocks will be voted on directly exactly once, resulting in a drastic reduction in, ultimately, wasted votes.”
Nano (NANO) Added on InvestFeed
After dropping of the lawsuit, Nano has been listed on the InvestFeed platform and this will give the community live price updates and performance. However, this is a social media feed blockchain powered outfit that will see user be more informed about the projects’ development progress I real time.
This will increase the NANO market visibility and penetration as more user engagement is anticipated. The Nano community is also anticipating the SeedIt, a twitter app that allows users send coins to each other seamlessly getting integrated into the Nano platform, a tool that TRON is currently running on its ecosystem. This will increase sped volumes and move the market cap up.
The current developments have seen the NANO (NANO) price hold steadily in the market at the backdrop of a lot of uncertainty. In the last 24 hours the NANO coin has gained 4.20% to trade at $2.20. Much of the coins volumes are coming through Binance which accounts for 75.02% of the total volumes with NANO/BTC and NANO/ETH parings getting the highest trader preference.
Despite the current price surge, Nano coin potential still remains untapped. As the use cases in the IoT industry continue to grow, its spend-ability is poised draw a lot of attention and adoption. With its inroads into Venezuela and Zimbabwe and turning around their economies, its popularity, appeal and visibility the coins growth is just getting started and it is time to stock up for the long term investor.