It’s another red day for crypto, and most coins are showing strong bearish sentiment. However, amidst this market shakedown, Nano (Nano) is showing signs of bullish momentum. This is driven by the announcement by Huobi that they will be listing Nano as from today. Here is part of the statement from Huobi with regards to this listing.
“Nano (NANO) will be launched on Huobi Global on October 31, 2018 (GMT+8). Deposits will be available from 16:30, October 31, 2018 (GMT+8). NANO/BTC and NANO/ETH trading will be available from 17:00, November 01, 2018 (GMT+8). Withdrawals will be available from 16:30, November 04, 2018 (GMT+8).”
Huobi adds to the growing number of exchanges that are listing Nano (Nano) and making it more accessible to investors. Considering that withdrawals will not be available until November 4th, there is a high likelihood that Nano (Nano) could rally all through the week, due to this increased buying pressure.
Beyond the Huobi driven FOMO, Nano (Nano) happens to be a strong coin that has the fundamentals to rise significantly going into 2019 and beyond. One of the factors that give Nano (Nano) it’s strong standing in the market is its ability to operate effectively as a currency. Most coins in the market are all aiming to be adopted as currencies for everyday transactions.
Nano Coin (Nano) is one of the coins that have the strongest potential on this front. That’s because it is feeless, instant and highly scalable. These are attributes that make Nano (Nano) quite attractive as a currency for everyday transactions. It’s an incentive for businesses in that it makes it easier for their customers to use it for everyday transactions. It is able to achieve this because it runs on DAG technology, just like IOTA (MIOTA).
It is this technology that gives Nano (Nano) its other strength that will make it rise significantly in the future, and that’s IoT. It is estimated that by 2025, the IoT market will be worth upwards of $10 trillion dollars. This is highly likely considering that the infrastructure to support IoT is already there. For instance, 5G networks are coming, and by 2019, they will be a reality in most countries. This will open up the way for the widespread application of smart devices. As this market rises, DLTs will play a major role in this market. Due to their feeless and high scalability capabilities, DAG-based DLTs will be the biggest benefactors. IOTA (MIOTA) has an edge in the market, but Nano (Nano) too will take a sizeable share of the market. The Nano center has already showcased a prove-of-concept showing that Nano (Nano) does have a use case in the IoT space.
These use cases combined with greater accessibility through exchanges will drive up the value of Nano Coin (Nano) going into 2019 and beyond. The fact that its price has taken a huge hit in this year’s bear run will play a role in driving up investment into Nano (Nano) going forward, as investors take advantage of its low prices. The possibility of Nano hitting upwards of $50 in the next Bull Run are quite high. It has the fundamentals to support it.