There has been an unexpected turnaround this morning and the markets have rebounded a little. Weekends are usually times when selloffs occur, led by Asia, but today everything is in the green once again. Bitcoin is leading the pack with a 7.5% recovery on yesterday’s prices to $10.500, altcoins have followed it back up, many by double digits. One as usual stands out from the rest and it is one we have covered a couple of times before; Nano.
Posting a 45% gain on the day Nano, formerly RaiBlocks, is flying during the Asian trading session this morning. It has jumped from $9.72 this time yesterday to $14.50 today, over the week gains have been even greater from a low point of $6.80 just three days ago. Nano hit an all-time high of $37 a couple of days after New Year when all cryptos were at their peaks.
The release of the Beta version of the Nano Android wallet on the 21st is likely to have spurred greater interest in this altcoin. Investors have seen buying opportunities at low prices and this coin has seen the dividends. Facilitating fast and free micropayments with digital currencies Nano has an online wallet and mobile ones in continual development. There are only 133 million total supply tokens and they are all already in circulation so prices could well continue upwards. It is traded mostly on Binance which has over 90% of the total volume, $263 million has been exchanged in Nano trading over the past 24 hours.
There are a few other altcoins with double digit growth this morning and they include Ethereum Classic which is up 25% at the time of writing. Litecoin, Iota, Tron, VeChain, and OmiseGO are also rallying this morning.
More on Nano can be found here: https://nano.org/en
FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals.