Nano has been on the move as of late. The currency peaked on July 16th with the price of $3.10/41379 satoshi before it entered a slow downtrend. The bottom of the downtrend was reached on August 14th, when Nano touched $0.885/14729 satoshi. Ever since it’s been pastures green for Nano as the currency went on a superb run which saw it record 300% gains and peak on August 26th with the prices of $3.60/53570 satoshi.
“$NANO was brutalized more than most during this bear market and the recent run it had indicates how quickly it can grow in value. $NANO has printed a bull pennant. If we break up out of this there’s a lot of room for growth on this next leg up. Wait for confirmation but the setup is there.”
Nano released its now regular weekly update, with one key issue being brought to the fray. On September 1st, 15.2 version of node software – containing Vote by Hash upgrade – was released. It immediately became clear that the update isn’t properly broadcasting the votes so the network fell back to the old style voting. The issue was addressed in the PR #1141 fix applied onto the v16 of the software, which is currently being tested and polished on the beta network. Still, v15.2 reportedly brought a decrease in average node bandwidth usage and once v16 goes live, this reduction should be even higher.
Team Nano recently confirmed that they finalized the details of cooperation with Paytomat.com, a Point of Sale solution for merchants which lets them accept Nano with the help of QR code technology. Thanks to the Paytomat service, many hotels, restaurants, dentists, logistic companies, e-commerce, SPA and car services will be able to use this new Nano supporting PoS platform. Overall Nano’s adoption is growing, with its continued growth in Venezuela and its addition to the Bitcoin Superstore. It was also recently added to Coinbene, Singaporean cryptocurrency exchange, so the increased liquidity will help the price grow as well.
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Another positive thing for Nano liquidity will be the launch of Coinbates, a platform that performs Nano (and other cryptocurrency) cashback service. This gives crypto holders funds to purchase items from Coinbates-registered merchants that currently include macy’s,Calvin Klein, DKNY, Lenovo, Microsoft, New Balance, Bodybuilding.com and more. An interesting use case for Nano recently kicked off as some Reddit community members started a Nano-focused NFL fantasy league. Finally the project announced a launch of a Nano-dedicated Instagram page which will host various project updates, as well as various community artworks related to the project.
Overall Nano is moving along well and delivering positive updates to the community. The Bitgrail hack sting is slowly wearing off and the currency seems like it is well on its way towards a full recovery. A future show of strength from Bitcoin should see Nano go back to being a strong market performer.
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