Nano, currently ranked 28th for market capitalisation is one of those alt-coins that really doesnât get an awful lot of attention. This is made even more clear when you see how the value of the currency has failed to respond to a number of big announcements.
Okay, so these announcements have occured during a market decline, possibly as a result of market correction in the wake of the April surge, either way though, Nano really needs to be doing better than this if it wants to start being taken seriously.
How does Nano stand at the moment?
At the time of writing, Nano is valued at $7.06 and is down 0.54%. At its peak, Nano was valued at just above $32.00, so the current standings for Nano are far from where it should be, considering other similar alt-coins have made much stronger recoveries from the March depression at this point in time.
The negative trend of Nano continues when you see that for the past week, Nano has been subject to some substantial losses, most notably dropping from $8.31 down to $6.56 in just a day. This negativity is reinforced by overall very low trading volumes.
Yesterday, Nano tweeted that Binance would once more be supporting deposits and withdrawals of Nano in the sort of announcement that would usually see a currencies value skyrocket. Obviously, Nano has been really affected by this correction depression, but you must ask yourself, have Nano tried to make this announcement known or are they just trying to steam through rough seas in the hope that eventually they will stumble across some good luck? This sentiment is justified by the fact the tweet by Nano, at the time of writing only has 190 retweets.
The community needs to start asking the Nano marketing team some questions. This is a currency with similar principles to Ripples XRP. Nano holds way more value yet for some reason, it just canât find the mainstream, its popularity is certainly hindered by something, the team at Nano really need to change that.
Maybe I am jumping the gun and maybe Nano are just witnessing a slow response to this news and to the Binance listing, although I do wonder if this is the case. As the markets drop, Nano need to find a way out if the currency wants any hope of ever making it back to $30.00 and beyond.