The crypto market has fallen heavily in the last few days, with over $100 billion being wiped off the market. But even amidst this fall, one coin has seen a massive rise in price and that’s Nano (NANO). While there is a lot of speculation as to why this happened, people are missing out on the biggest possible reason.
Just before Nano saw its massive gains, Nano’s Zack sent out a tweet that he would be meeting Coinbase’s, Gary Tan. There is so much information that can be deciphered from this meeting, and that’s why the market reacted. For starters, it could mean that Nano is about to be added on Coinbase.
Many people don’t know about this, but one of Coinbase’s key pillars is to implement a merchant gateway that would make the platform even more accessible to investors. Nano (NANO) is one of the cryptos that would easily make this achievable. That’s because it has very high transaction speeds, is scalable and has near zero transaction fees. It would be the perfect addition to the Coinbase exchange. In fact, the recent surge in Nano price could be a sign of Coinbase accumulating this coin; as they prepare to launch it on the platform.
Remember a similar thing happened when Coinbase was planning to launch bitcoin cash on their platform. Bitcoin cash price and volumes surged. If this is what is happening to Nano, then its price is also about to surge even more once the official announcement, if it happens, is made by Coinbase.
There is also some low-key news that Zack could possibly have meet with a C-level manager from JP Morgan. If this is true, then it could mean that Nano (NANO) is about to get adopted by one of the largest banks on the planet as a payment gateway. Remember, Nano is way better than Ripple (XRP), which is also aiming for the same market. That’s because while the two are almost similar in terms of speeds and transaction costs, Nano is decentralized. JP Morgan could, therefore, be trying it out in a bid to attract clients who are looking for a decentralized way of making payments across the world. After all, the whole idea behind blockchain and cryptocurrencies, in general, is to take control away from centralized entities.
Anyway, whichever of the two reasons above is behind the surge in Nano, the future of this crypto is bright. If is added to Coinbase, volumes will surge, and the buying pressure from Coinbase clients will push up its price by an even bigger margin. On the other hand, if it’s the possibility of integration into the JP Morgan systems that is driving up the price, then Nano is about to shoot to the moon. That’s because it profile will grow significantly, creating an incentive for other banks to adopt Nano too.
It’s a good time to buy and hold Nano (NANO) in anticipation of some major news in coming days. Nano could easily top $20 in coming days and reward investors handsomely.