Bitcoin was released to become a daily peer-to-peer payment vehicle and a way to easily exchange value online. However, its design quickly showed some shortcomings regarding scalability, which pushed developers to create more efficient coins for payment.
In the early days of cryptocurrency, many such coins were released in the markets, but none came as close to being the perfect payment crypto as Nano did. In this article, we take a closer look at the XNO cryptocurrency, its origins, and its design.
We will also take a look at its historical price action and provide some price predictions to give you a good idea of the potential of this cryptocurrency as an investment. In the end, you will be able to tell whether exchanging
XMR to NANO can be a profitable venture in the long run.
Overview of NANO
The team behind Nano started working on this cryptocurrency as far back as 2014, when the project was called RaiBlocks. At the time, people could receive free XRB by solving a captcha.
In 2018, the team rebranded RaiBlocks to Nano, with the goal to make it more appealing to the public. The purpose of this cryptocurrency is to provide frictionless online payments that are both fast and cheap.
To achieve this, Nano uses a system called Open Representative Voting (ORV), which allows users to vote for representatives that confirm blocks on the chain. This is much more scalable than proof-of-work systems as it doesn’t require mining but reaches consensus through voting. And the results speak for themselves: Nano transactions take less than a second to execute, and there are effectively zero fees for making payments with XNO. Most of the cryptocurrency community agrees that this solution might be the best for
providing secure peer-to-peer microtransactions, ideal for daily payments.
XNO: What Determines Its Price?
Nano is currently trading at around $0.8, with its maximum supply of 133 million coins already in
circulation, securing a market cap of around $100 million.
Rebranded as XNO in 2021, Nano has been through quite an adventure regarding its price since its appearance on the market. Two main drivers impact the price of XNO: demand and hype. When both of these factors are at their highest point, the price of Nano usually skyrockets. This had been the case during the bull run of 2018 when XNO went from $0.015 to an all-time high of $37.62. This established it as one of the fastest-rising cryptocurrencies at that time. Even though the ensuing bear market pushed prices back below the $1 mark in 2020, Nano picked up the action once more in 2021 and reached $13 in April 2021. However, the bearish market impacted the price severely, and XNO is now trading below the $1 mark.
XNO: Statistical Forecasts
So let’s have a look at Nano’s price predictions from experts around the internet.
● Digitalcoinprice.com keeps quite a conservative view on Nano. While the website expects to see the XNO coin reclaim the $1 mark in 2023, the five-year forecast isn’t too optimistic, with a maximum price of $1.66 by 2025.
● Priceprediction.net, on the other hand, expects the coin to retain steady growth. While they don’t predict any crazy double-figure spikes, they still forecast a price of $5.04 by 2025.
● Walletinvestor falls into the same prediction as some of its peers and gives a target of $1.68 for the next five years.
● Finally, Tradingbeasts predicts a price of around $2.17 for 2025, which isn’t too optimistic.
As you can see, XNO can bring some decent profits to investors, while providing them with high payment utility.
Should I Go for XNO Now?
Nano is generally considered to be a fairly cheap cryptocurrency that you can easily purchase on
Godex.io and many other exchanges. Instead of providing you with any financial advice, we can chime in with the following calculation.
Imagine you invest in 10,000 XNO at the current price of $0.8. As experts predict at least $1.5 per XNO by 2025, this could allow you to almost double your investment in three years.
All in all, while quite volatile, Nano can retain its support from its community and possibly return well above the $1 level in a few years' time.
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