In this article, we will talk about the XNO cryptocurrency which belongs to the Nano blockchain. It is a little-known cryptocurrency, although the most experienced crypto-investors will probably already know it. It is a very interesting cryptocurrency because the Nano project has been around for quite some time and has already experienced periods of downturn in the cryptocurrency market. The fact that it has survived these difficult periods shows that it is a solid project that will undoubtedly be able to withstand future difficulties, in any case it gives us more confidence.
IMPORTANT : In this article, we do not offer an investment recommendation. We simply want to share with our readers objective data but also our analysis which is subjective. We are passionate about cryptocurrencies and base our analysis on real and verifiable data. However, before investing in a cryptocurrency or any other type of investment, you should do your research and analyze the projects you want to invest in to be able to take a critical look. Here is the official Nano website.
How to buy XNO cryptocurrency from Nano?
To buy Nano’s XNO cryptocurrency or other cryptocurrencies, there are many options. One of the most popular crypto platforms for crypto investors is called Bitcoin-loophole.io. It is undoubtedly one of the most complete tools for both beginners and experienced traders. But there are many others like Binance or eToro. The platforms we offer are reliable and safe platforms, there are others but be careful because there are also many scams on the internet.
Project situation in the cryptocurrency market
As of July 26, 2022, the Nano blockchain is currently ranked 168th in terms of market capitalization with a market cap of $123,513,648 according to benchmark site CoinMarketCap. This is quite a large project but not one of the highest profile projects in the blockchain world. The value of the XNO token is $0.9269.
To put things into perspective, it is worth mentioning that the Nano token has already reached much higher values in the past. Shortly after the launch of the project, its price reached $33.70 in early 2018, and its market capitalization reached $4.5 billion, which is much higher than the current $123 million.
After Nano’s strong market capitalization growth in 2018, it suffered an almost equally steep decline. Since then the token has never regained such a high value. While in early 2018 the token reached its ATH, i.e. it reached its highest value ever, since December 2018 the value of the token has dropped sharply to a value of around $0.78 at its lowest point of that year. The token then experienced a long period of stagnation until early 2021 when the cryptocurrency market woke up. The maximum value of the token rose to over $13 in April 2021. This is a sharp increase even though the token never managed to touch its all-time high of $33.70 again.
It must be said that the competition in terms of blockchain was much higher in 2021 than in 2018 and many blockchain projects have also tried to copy the value proposition of Nano but with more marketing or better communication.
Today, the value of the token has dropped below $1 again and is therefore close to its lowest value, historically. What will happen in the future? Will the value of the token still experience strong increases like in 2018 when the token price reached x168 in a very short time or like in 2021 where it reached x13 in a few months?
No one can predict the future. If we look at the trend, maybe next time the token value will be x6 or x3 during the next period of strong growth of the cryptocurrency market, which would be excellent already. It will depend on how efficient the Nano project manages to be in the coming years. Now let’s talk a little more about the project than him.
Nano, a payment system
The Nano project bills itself as “digital money for the modern world.” It is a blockchain protocol that allows 1000 transactions per second to make person-to-person payments. By way of comparison, the VISA and Mastercard networks most of the time carry out between 4,000 and 20,000 transactions per second, but these are global players.
Nano is not comparable to these giants of the world of payment systems, but the blockchain is able to support a sufficiently large number of transactions compared to its size and is therefore not threatened by problems of congestion of its network.
Nano’s payment system is designed to be very fast and secure. Allows you to make transactions anywhere in the world in up to 1 second. This is a transaction speed comparable to those offered by VISA or Mastercard and is much faster than on the Bitcoin network.
The difference between Nano and VISA and Mastercard is that transactions on Nano are completely free. The blockchain works via a consensus mechanism called Open Representative Voting (ORV) which is somewhat similar to the Proof Of Stake found on many blockchains except in the case of Nano the people validating transactions are not unpaid so there are no transaction fees.