Nano Price

Described as “digital money for the modern world”, Nano is a peer-to-peer platform for the efficient transfer of value. Nano payments are instant and don’t require fees. The platform also uses an Open Representative Voting consensus mechanism instead of mining, making it more energy-efficient and eco-friendly than Proof of Work-based cryptocurrencies. The project was originally called Raiblocks and its XRB token was distributed through a CAPTCHA faucet system from 2015. In 2018, the project was rebranded to Nano.

NANO is the native cryptocurrency of the platform and is used to facilitate simple peer-to-peer transactions. Its price has changed dramatically throughout its history and if you want to know why then you’re in the right place. We’ve compiled everything you need in order to get a better understanding of NANO price – as well as the factors which influence it.

Nano Price History

Between 2015 and 2017, XRB was distributed through the CAPTCHA faucet and by March 2017, it was trading at about $0.01. Surges in June and August that year carried prices up to $0.19 and $0.18 respectively, before the rally really got going in November. The growth was almost vertical in December, as the Raiblocks market cap surpassed $1 billion for the first time and XRB zoomed past $1 and $10. By the end of the year, XRB was worth $21, after making gains of more than 9,900 % over the course of the month.

The bull run culminated in a peak on Jan. 2, 2018 at the cryptocurrency’s all-time high of $42.92, at which point its market cap was about $4.5 billion. Prices swiftly crashed back down to $11 a couple of weeks later and at the end of January, Raiblocks was rebranded to Nano and the XRB cryptocurrency was given the ticker NANO. The rest of the year was mostly spent in decline and as 2018 came to a close, NANO was trading at $0.89, having made a loss of 96% over the course of the year.

There was little price change for the first quarter of 2019, but prices improved to $2 in April. They had begun to fall again by June and the rest of the year took on a more bearish trajectory. As 2019 finished, NANO had a price of $0.65, having decreased by 27% since the start of the year.

Prices had climbed to $1.24 by the middle of February 2020, but then bottomed out at $0.26 the following month after a single-day crash of more than 45%. The next few months brought steady gains and NANO peaked at almost $1.50 in August. Prices dipped back below $1 at the start of September and consolidated around this level for the rest of the year. At 2020’s close, NANO had a price of $1.03, providing an improvement of 58% on the year’s starting price.

The first week of January 2021 saw prices surge to about $5.50, before consolidating for the rest of the month. The cryptocurrency hit a peak of over $8 in February, but shed half its value a few days later. The rally didn’t resume until the end of March, bringing NANO to a high above $15 in April. This was followed by a more than 60% pullback, before another burst of bullish momentum resulted in a peak of $18.58. Then came another retracement and prices dipped below $4.60 during a crash of more than 50% within a single day in May. Although NANO rebounded to almost $10 at the start of June, it then went into decline again, dropping to under $4 later in the month.

Analyzing Nano Price History

Nano price history can be analyzed with many of the same techniques as the stock market. Technical analysis involves using various indicators while studying price charts in order to make sense of previous price movements. With NANO, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of users buy or sell their coins on exchanges.

Fundamental analysis, on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. Nano didn’t raise any funds through an initial coin offering, instead using a CAPTCHA-based faucet system for distribution. Nano’s founder has significant experience in software development, having previously worked for Qualcomm, Dell, and AMD. The project has also formed many commercial partnerships with Wirex, Uphold, and Crypto.com, among others. These could potentially be good signs for the fundamental Nano value.

Broader market trends have also played a role in NANO’s price history. Its surges at the end of 2017 and start of 2021 weren’t unique – the entire crypto market pumped around these times. Bitcoin was in the midst of major bull runs then, and with such strong market dominance, any significant price movement for Bitcoin often impacts other cryptocurrencies.

NANO’s huge single-day drop in March 2020 came as economies and borders were closing down around the world in response to the COVID-19 pandemic. The effect of this was felt by the whole cryptocurrency sector and the entire stock market, which experienced the biggest single-day crash since 1987.

The sudden crash in May 2021 was also market-wide, affecting every single major cryptocurrency. Various contributing factors have been suggested, including comments made by Elon Musk, a crackdown by Chinese authorities, liquidations, and a healthy market correction.

The overall price trend of NANO tends to follow what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.

Factors Influencing The Price of Nano (NANO)

A variety of different things can affect the price of NANO, including project news and developments, the flow of assets on exchanges, public sentiment, and emerging trends in the wider cryptocurrency and global economies.

NANO has a capped max supply of 133,248,298 tokens, which are all already in the circulating supply. This was about 39% of the original max supply but the rest was burned. The limited supply makes NANO a scarce asset, like Bitcoin, and so potentially a good store of value in the long term. As the circulating supply will always remain constant, any increase in demand for NANO will lead to a rise in price.

Demand for NANO is driven by its utility as a means of peer-to-peer value transfer. NANO transactions are instant, feeless, and eco-friendly, making the cryptocurrency suitable for a range of applications. These qualities could encourage more people to use NANO in their day-to-day lives.

This demand will likely grow as the network expands and gains more users. Activities that drive broader adoption, such as more commercial partnerships, ecosystem development, and community engagement, could therefore boost NANO price.

Live Nano Value and Market Cap

The live NANO price varies from moment to moment as it’s dictated by the balance of buyers and sellers on exchanges, which is in constant flux. 

Given NANO’s volatility, its live price can change by a large amount in a very short space of time. The market cap of Nano is equal to the

Nano Price FAQ

What is the highest Nano price in EUR?

Nano price history shows that XNO has recorded a peak value of EUR.

What is the lowest Nano price in EUR?

XNO price history shows that EUR EUR is the lowest recorded Nano value.

How can I buy Nano?

You can purchase Nano and over 290 different cryptocurrencies in seconds with Kriptomat, learn more about how to buy Nano. It’s available for immediate purchase at the current XNO price quote of EUR. Current prices are always displayed in the XNO chart.

What is the current Nano price in EUR?

Kriptomat data confirms that the current Nano price is EUR.

How is the price of NANO calculated?

NANO’s price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying NANO than selling it, the price goes up, and when more are selling than buying, the price goes down.

Why is the price of NANO different on each crypto exchange?

NANO’s price is based purely on trading as there is no standard global NANO price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affect the price.

What will NANO be worth in the future?

It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future value of NANO. However, new commercial partnerships and ecosystem projects in the future could promote broader adoption of NANO and drive demand for it, thereby raising its price.

Conclusion

The price of NANO has experienced dramatic change, going from lows of under a cent to highs of over $40. Its price movements have rarely been smooth, however, as NANO’s volatility has led to plenty of surges and crashes throughout its history.

Many different factors have played a role in determining the price of NANO, including demand for feeless transactions, commercial partnerships, and trends in the rest of the crypto market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.

If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Nano and cryptocurrencies!