Why Nano Price is Mooning?
Yesterday, following the announcement from the team at Nano about their IoT charging innovation, the coin has seen a 90% rise in its price. Nano’s first step into the IoT jungle with its IoT charging apparatus, Nano price has rocketed to the moon and only greater heights are expected.
The 90% hike in the value of the Nano coin is being attributed to the network’s stress testing results. These results were released over the last week and were highly satisfactory.
Nano is not the first coin to have entered the IoT field, it has entered only after IOTA and many other coins. But the long-awaited announcement from Nano’s team is surely about to change the entire crypto-IoT dynamic.
The Best Crypto-IoT Collaboration
The announcement was made from the Nano center, yesterday. The release of the Nano IoT charger was confirmed by the company and poses as the most promising entry into the IoT industry. The IoT charger and associated apparatus is said to be run on the native Nano coin.
The charger that has been released as of now is still a prototype and the features that have been revealed so far that the charger hosts are:
- It only requires the user to scan a QR code for transactions
- The QR code initiates a micro-level managed transaction process; hence no need to worry about change
- Is so far only compatible with NANO wallets
This announcement from the Nano Centre is a huge milestone for the company and the community alike because as and when the charger is successfully tested and released to the market, there are many real-world use cases that can be catered to. Of course, to do so for real-world use cases, there is a lot of potential harnessing and multiple iterations that will have to take place beforehand.
Nano Branches Out
Nano is not the first cryptocurrency coin and company to venture into the IoT space, it is, in fact, actually third or fourth. Behind IOTA and several other coins that are also in the space as of now. However, the excitement and expectation that surrounds this coin are because before embarking on this journey the company did its market survey in a very interesting way.
The Nano company used its YouTube channel to start engaging with its community and the feedback it got through it was invaluable to the company. The community’s reaction to the YouTube channel and its content very clearly slated for the company what was expected of them and what they needed to do.
The company with this move towards diversifying their business has the potential, with this product, to become a global brand name in the IoT industry. The company’s coin NANO too is starting to be listed in many, many exchanges. Which is a very high reason for the coin’s large adoption and price hike in the market.
Price Hike, More Expected
Over the last week, Nano price has seen more than 90% hike in its value. And a 250% hike over the last two weeks. The price two weeks ago was $1.52 USD. The price/value hike is being attributed to multiple reasons. Among them is the fact that the company’s coin NANO has been listed and adopted by many exchanges and platforms as a transactable crypto coin.
The other two reasons are fairly intuitive from this article, in them being that the company has diversified into the IoT jungle with its charging product and the fact that their initial network stress test came back with results in flying colors. It is very important for every crypto company to have the backing of the community and it is safe to say that NANO does. The current price of the coin, at the time of writing, is, $3.12 USD.