Even though most cryptocurrencies are still recovering from last night’s unexpected downtrend, there is some positive momentum forming as well. We see some currency note interesting gains already over the past 24 hours, although no currency notes impressive gains on the same level of Nano. After yesterday’s positive trend, the Nano price is still up by 18.14% and has surpassed the $10 mark with relative ease.
Nano Price Continues to Impress Speculators
It is evident all cryptocurrencies will remain rather volatile for quite some time to come. Yesterday’s surprising downtrend has taken a lot of people by surprise, and it caused major losses across virtually all markets as we speak. Surprisingly, the Nano price did not suffer from this negative momentum whatsoever, as the altcoin simply continues its uptrend which started forming two days ago.
More specifically, the Nano price hit $9 yesterday without too much resistance. With such solid gains noted yesterday, most users expected some form of a temporary retrace to occur As is usually the case with cryptocurrencies, things often work out in an illogical manner. The Nano price did not retrace whatsoever, even though there was a small push-back to $8.5 at some point. Ever since that time, the price has continued to surge and now sits above $10.5.
With this most recent 18.14% gain, the Nano price is leading the way for other altcoins to follow in the future. Whether or not we will see some big improvements in this regard, has yet to be determined at this point, though. Some of the cryptocurrency markets are in the green already, even though most of them still try to recover some recent losses. The Nano price seemingly doesn’t care about the overall momentum as of right now, though, as it continues to push for higher highs as we speak.
With $135m in 24-hour trading volume, not much has changed for nano in the past 24 hours. It is still a semi-liquid altcoin market as of right now, even though the volume could be a lot higher if there was sufficient interest in this altcoin as of right now. At the same time, Nano is not traded on most of the major exchanges right now, even though it has made a name for itself on platforms such as Binance, among others.
Speaking of which, Binance is the largest Nano exchange ranked by trading volume as of right now. Its BTC and ETH trading pairs represent over 92.5% of all Nano trading volume right now, which is pretty impressive. KuCoin completes the top three with their XRB/BTC market. With no fiat currency markets in the entire top five, things may not look all that impressive, but this has not hindered the altcoin’s chances on the market whatsoever. It will be interesting to see what the future holds for the Nano price in this regard.
For the time being, it seems the Nano price will remain above $10 with relative ease. Especially with its gain over Bitcoin over the past 24 hours, things look rather impressive for this altcoin as of right now. Nano gained 21.51% over Bitcoin in the past 24 hours, which further confirms the solid momentum in place for this altcoin. Whether or not this trend will continue, is a different matter altogether. Anything is possible in the world of cryptocurrency right now, and we may very well see the Nano price continue to push to $12.5 in the coming hours.