NANO (XRB/NANO) is taking its time for the next potential bull market. The coin lagged behind other digital assets, but is now giving indications of awakening, and claiming higher price levels. XRB grew to $8.48, adding more than 10% overnight as trading is slowly picking up.
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But now, the XRB digital asset will also have to prove itself as recognizable with its new ticker. After a rebranding from RAI Blocks, the XRB ticker remained in use for a few months. But the team wanted to complete the rebranding, going with a NANO ticker.
https://twitter.com/IliaSakowski/status/989832327722422272
Additionally, NANO may have serious wallet issues, as the Android decentralized wallet is still getting tested. At this point, an addition to Ledger Nano may be an option, but the hardware wallet team is taking its time.
Some believe that the currently available online wallet, nanowallet.io, is a point of failure for the project. Online wallets are risky, and this one may hijack seeds if a hacker gets control of the server.
Additionally, the BitGrail fiasco is still affecting the project. Some believe the BitGrail exchange is putting pressure on theft victims to accept unfair compensation. The NANO theft victims have organized, and a recent statement shows they suspect the BitGrail exchange of either scam behavior, or negligence to a high degree.
Yet despite the troubles, the NANO digital asset is still seen as potentially changing the world of crypto. In the short term, a price run is expected. NANO has drifted sideways for weeks now, locked within a trading range, and some believe there is enough buying to spark a steeper rally soon.
As altcoins are consolidating, more traders may notice that NANO skipped the steep run this spring. This may cause profits from other coins to seek out NANO. Altcoins on Binance went through booms, but are now sliding, and NANO may be chosen as an alternative for its trading potential. The Nanex exchange is also increasing its volumes, up to more than 16 BTC in 24 hours for the NANO/BTC market.
This article appeared first on Cryptovest
