In the last couple of years, a lot of decentralized projects aim to solve the scalability issue biggest blockchains face and also provide a universal payment option. One of the is Nano — the network for instant free transactions with an ambitious idea to change the way we pay. The native XNO token of the project experienced a complicated year since the last summer, but recently was performing slightly better. Read our Nano token price prediction to see if it’s the right time to invest in this asset.
Wanna get a free genesis NFT and cashback for XNO swaps?
Table of Contents
Nano Fundamental Analysis
Nano is a lightweight cryptocurrency designed to facilitate secure, practically instant payments without fees. It calls itself “digital money for the modern world”. It aims to overcome the major limitations of legacy financial infrastructure and many major modern cryptocurrencies, such as high gas fees and slow transaction processes.
According to one of the co-founders, Nano is built to become the most efficient currency the world has seen. The project team believes that with the world moving on to crypto, Nano will be accepted everywhere in the world as real money. Until that the Nano tokens are useful for cross-border transfers.
The project began in 2014 under the name RaiBlocks and the coin was launched the following year through the public faucet, and the users got a chance to claim a small amount of the token (at that time called XRB) after completing the captcha challenge. It was made to attract as many users as possible through very easy tasks. The number of coins rewarded varied.
In January 2018 the project was rebranded to Nano to more clearly represent the speed and simplicity of the concept and solution. In January 2021 Nano has changed the token ticker and standard symbol. It was made to bring cryptocurrency to the real world and to comply with the globally recognized standards of the International Organization of Standardization.
The founder of Nano is software developer Colin LeMahieu. He has a big experience working with prominent tech companies, such as Dell, Qualcomm, and AMD. He is very well-known in the digital technologies world for his experience and also wide interest in numerous spheres related to digital technologies and environmental sustainability. Despite being the inventor of Nano and the biggest contributor to the project’s GitHub, LeMahieu also serves as Director of Nano Foundation — the organization that leads the development of Nano.
Nano is based on directed acyclic graph technology, not a blockchain. It is an underlying technology for setting transactions across the network. Nano applies an Open Representative Voting algorithm to secure the network. There is a network of representatives, chosen by the users of the Nano network by voting. The more votes a representative has, the greater its voting weight. The utilization of these technologies allows Nano to offer faster transactions with the finality achieved in a split of a second.
Even though Nano claims to achieve scalability and offer more transaction advantages than well-known blockchain networks, there are doubts about whether it can provide a proper level of security. For instance, in 2021 the network was attacked with spam and the users couldn’t send transactions for some time. This type of attack was never possible on Bitcoin as its ecosystem is more mature and durable.
XNO is a native cryptocurrency of the project. It has a max supply of 133248297.92 Nano, with all of them currently circulating. Originally the max supply was set higher, but later the tokens reaching above the 133 million limits were burnt. The advantage of this cryptocurrency is that it is fully diluted, which makes it highly decentralized and well distributed with the majority of holders having not more than 100 XNO. Just 5% of all the supply was allocated to the project team for the further development of the project.
Nano Live Price Chart
From August 2021 when the crypto market recovered from the deep summer downtrend the price of XNO reached first $7 on August 22 and then after being corrected to $6.6 for a bit longer than a week, jumped to $7.2 on September 5. But the next day all the gains were lost as the token dipped to $5.7, then even more to $5.5, stayed at this level till September 18, and at the end of the month collapsed even more.
On September 21 the XNO token was trading for $4.3. A short attempt for price correction didn’t change the situation much and in less than a week it went down to $4.2. The situation slightly changed at the beginning of October when the season of altcoins started. But while many of the alternative assets were booming and hitting new heights, XNO showed quite moderate performance. On October 3 it jumped to $5.7, slipped to around $5.2 for the next 20 days, and reached the max of the period on October 31. In the next 2 weeks, it was corrected for around $5.6 and then went up again, not succeeding to break the resistance at $6.1.
From mid-November, the XNO price went into a downtrend, rapidly losing its value. By the middle of December, the value of the Nano token reached $3.3. It managed to recover some losses to $3.9 in the last week of December, but then dropped again and started 2022 trading for $3.5.
At that time the whole crypto market was experiencing hard times and the XNO kept falling continuously until the middle of March. At that time its price was just $1.6. As there was a change in the trend at that point, the XNO token price jumped over 50% to $2.5 on March 17. After a short price correction, it went even higher and managed to reach $2.8 on April 4.
The gains were not kept and from that day the Nano coin joined the overall crypto winter. Its price was going down till May 12, when the mass tokens sell-off hit it together with other cryptocurrencies. The asset price shrunk below $1, but then stabilized at the new level of $1 till June 9. As the Bitcoin price was hit at that time most of the assets suffered too, including XNO. For 3 days it was continuously declining to reach $0.78 and stabilize at that level with a slightly noticeable upward trajectory. By August 13 the XNO token price reached $1 again and then went for a price correction.
Some market experts foresee the rise of the token in the coming month.
Nano Technical Analysis
Nano Price Prediction
Nano Price Prediction for 2023
Nano Price Prediction for 2024
Nano Price Prediction for 2025
Nano Price Prediction for 2026
Nano Price Prediction for 2030
About SwapSpaceSwapSpace is a cryptocurrency exchange aggregator that allows to swap over 2450 cryptos with both fixed and floating rates. We gather the rates of major crypto exchanges on the market onscreen and let our users compare and choose whatever option they like the most. We don’t add any fees over the partners’ rates, which makes the exchanges via SwapSpace profitable. The exchange time is no longer than at any of our integrated services starting from 10 minutes. SwapSpace support works 24/7.