All cryptocurrency markets are on the road to recovery once again, which can only be considered to be a good thing. Especially the Bitcoin price is noting some big gains, although it is still overshadowed by some of the altcoins on the market today. Even though it has been mentioned before, the Nano price is still going pretty strong as of right now. With another 29.46% gain over the past 24 hours, things are certainly heading in the right direction once again.
MORE MAJOR NANO PRICE GAINS
It is uncanny how the Nano price has surged in value over the past few days and weeks. It has certainly been one of the more volatile markets, but in a rather positive manner, by the look of things. More specifically, we have seen the nano price rise form under $7.50 all the way to $17, before the value eventually retraced to $11 once again. This type of volatility is not uncommon in the world of cryptocurrency, as it has been present in all markets for some time now.
With the Nano price noting strong gains in the past few days, this latest dip has been bought up pretty quickly. More specifically, the price pushed back to $14 initially but was forced to cool down once again shortly after. Ever since, we have seen the Nano price embark on a rather bullish trend to surpass $12.5, $13, $14, and now $15 in quick succession. It is quite a positive trend which doesn’t seem to meet much resistance as of right now, but things can always turn around quickly in the world of cryptocurrency.
Thanks to this latest 29.46% gain in USD value, things are looking pretty solid for the nano price as of right now. This uptrend is also made possible thanks to 15.65% gains in the NANO/BTC ration, which is pretty interesting. Even though the Bitcoin price is going up once again, Nano continues to gain on the world’s leading cryptocurrency in rather spectacular fashion. It will be interesting to see what the future holds in this regard, as this trend may start to retrace in the near future.
With $165.8m in 24-hour trading volume, things are looking pretty interesting for Nano right now. It is still a rather low trading volume compared to some other markets, although that is nothing to be overly concerned about as of right now either. Lower volume coins tend to surge in value in a more spectacular fashion compared to more liquid currencies, but it remains to be seen how things play out for Nano moving forward.
As of right now, Binance is still the biggest exchange for Nano trading. With three of their exchange pairs in the top four, things are looking pretty interesting in this regard. These three pairs combine for 97% of all Nano trades as of right now, which is a bit worrisome. The only other exchange in the top four is KuCoin with their XRB/BTC pair. No other pair outside of these four generates more than $1m in 24-hour volume, which is something to keep an eye on moving forward.
For the time being, it remains to be seen what the future holds for the nano price. Although things are looking pretty good as of right now, markets are always subject to change in the world of cryptocurrency. Whether or not we will see more gains for Nano in the future, remains to be determined, though. Anything is possible in the world of cryptocurrency, but there is always a lot of volatility to contend with as well.