Nano Floats in a Sea of Crypto Red

Nano is the only coin in the top 30 by market cap to have gained significantly on a day when most cryptocurrencies have
fallen by high single-digits. At the time of writing, Nano (XRB) is up almost 20 percent to the US dollar and almost 25
percent against Bitcoin. At the time of writing, Nano is priced at $8.82. According to coinmarketcap, all top thirty coins
have fallen except Nano, Populous, and Tether, the latter two only marginally in the green. The coin is currently the 24th
largest, with a market cap of $1,166,932,553. Nano was rebranded from RaiBlocks on the 31st of January. It boasts transaction
speeds averaging just over one-and-a-half seconds, making it one of the fastest cryptocurrencies to send and receive. The
sender and the receiver conduct Proof-of-Work using a “block lattice” structure. This unique structure means that each
account, as determined by its public key, is itself a blockchain. XRB is fast, free, and minerless. Each user effectively
mines the coins as they use them. Nano boasts unlimited scalability, theoretically, and operates on a lightweight protocol.
The currency has endured a tumultuous start to the year. Given its unique structure, the ability for large-scale exchanges to
support it was limited. While now listed on kucoin and binance, some 30 percent of Nano volume was exchanged on Italian-based
BitGrail. The coin represented roughly 85 percent of BitGrail’s trading volume.


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