Over the past month or two, just about every cryptocurrency has long huge amounts. While this wasn’t exactly surprising given the incredible growth that occurred in the last quarter of 2017, it still hurt a lot of people. For most currencies, the pain has started to slow down, but there still hasn’t been a strong recovery.
Just ten of the top 100 currencies are up in the past week, and one of those is showing very impressive gains. NANO. Over the past week, it is up significantly, with growth of 30+% in just the last day. This positions NANO as the 22th largest cryptocurrency, with a market cap of $1.7 billion.
The recovery is due to a number of important factors. First, they had rebranded from Raiblocks earlier this year, which was a very popular move. Many people had expected it for some time, and getting that accomplished get it a nice boost. They were hurt by the hack on BitGrail some time ago, but people understand that this wasn’t their fault, which puts them back into a buy position.
It isn’t possible to predict how much further NANO will go up, or for how long, but it is nice to see a strong project like this recovering so well. Hopefully it will bring back some confidence to the alt-coin market in the coming weeks, and other currencies can follow suit with the recovery.
