Skip to main content

Will NANO / Nanos Crypto (XNO) Cryptocurrency Ever Recover?

What is NANO (XNO)?

Nano is a peer-to-peer decentralised cryptocurrency (digital currency) released on 4 October 2016. Nano originally had the token symbol NANO, but recently changed to XNO in an effort to be ISO compliant with regards to currency codes. It uses a proof-of-stake algorithm to create new blocks and its distinguishing feature is that it is a fee-free cryptocurrency; there are no transaction fees.

Note that this currency is not related to Ledger Nano devices or the Ledger crypto wallet.

The coin was built to combat blockchain scalability issues, notably to combat rising gas fees with a blockchain network underload (as we’ve seen famously with Ethereum). Today, the price of XNO is a mere $2.37, a far-cry from its all-time-high (ATH) of $37.62 from early 2018.

Nano Tokenomics

Nano has a supply of just over 133 million XNO tokens. As there are no network fees to be paid out, there are no nano tokens locked up, and all the tokens are in circulation. As such, the coin uses a proof-of-stake algorithm to create network blocks (block times around 1 second) instead of a proof-of-work (PoW) algorithm such as the likes of Ethereum or Bitcoin.

As of writing the article, the total market cap of Nano is $315M US dollars. At it’s all-time-high, the total market cap was just over $5B US dollars. That’s over a 90% drop!

Nano’s current rank is 174 on coin marketcap.

Will It Ever Recover?

As with anything in crypto, no one really knows!

Cryptocurrencies can be incredibly volatile and often, seemingly ‘dead’ currencies seem to spring to life after years of low prices. As for Nano, it’s all-time-high was in the 2017-2018 bull market, and it’s over 90% down since. In the 2021 bull market, we saw highs of around $12, but that’s still a long way from the $37 ATH.

While the future for Nano doesn’t look too promising, there still is a chance that the coin will recover for the next bull market, and perhaps the prices now are the lowest we will see after the bull run. Who knows, maybe Nano will rise from the ashes one day?


Popular posts from this blog

Bitcoin prices surge as hopes of 100K BTC by the end of 2021 soars

Loopring recently received its post-mortem announcement from Gamestop about their NFT marketplace, bringing the dead currency from 6 feet under to 60% above. Following this rather unexpected announcement, now Bitcoin seems to be wanting a piece of the pie as well. It has surged more than 25% since late last month; giving hope to many small-time cryptocurrency owners that there still may be a chance that it reaches 100K by the end of 2021. Many investors have taken to the r/cryptocurrency community of Reddit , the social media platform, to express their feelings: “Finally, 100K bitcoin  🥲 ” “EOY 2021 100K bitcoin back on the table?” “The suicide hotline operators can finally go on a break” It was clear that emotions were running high, and there were many tears of happiness But many users warned that the advice given on the close-knit community were not ones to follow. “Do not follow this subreddit. The market does the exact opposite that of the current sentiments of this

Ledger Live Collects Your IP Address – And They Lied That They Don’t

Ledger devices have been used for a better part of a decade; and they are indeed excellent hardware wallets. They are supported by numerous third-party crypto wallets, and arguably provide the best consumer-end cryptocurrency security out there. But the problem lies within the company’s first-party application – Ledger Live. Ledger Live - What is it? Ledger Live is the main application used to interact with your Ledger hardware wallet. It can install various apps that are required for interacting with specific blockchains, update your Ledger device firmware and keep track of a list of crypto assets. In other words, for the average user, the application is necessary to actually use the ledger device, even if the user only intends to use it with third party applications. Ledger Live’s Data Collection Policy Here’s what Ledger’s Chairman and Co-Founder says, replying to a post on Reddit: [Source:

Monero investor barely escapes with his life after boating accident

  What Happened? In the wee hours of 15 th April 2022, a Florida cryptocurrency investor was out boating, enjoying the solitude. “It was perfect. The birds were singing their morning songs, the light from the break of dawn was dancing on the tiny waves. I was so happy.” But then, his worst fears came true. A piranha attacked his boat. The Accident “It came from nowhere! Not a single sound, no warning, then just bam!” He then described how the piranha systematically pinched a hole in his boat – and his dignity. The notoriously ferocious fish ate away at the bottom of the hull, where small boats are the weakest. Then it swam up and used its sharp teeth to strike a hole where the boat structure is the thinnest. “I was in shock. I had no clue what I was gonna do. Am I gonna die?” The investor then described how the water started to flow in. The boat was slowly sinking. He tried bucketing away the water, but it was of little avail. With no other choice, the poor man had