 | I will present a long-term overview for the nano cryptocurrency (XNO), which I have been following and using (as money) in my daily life since 2020. The original piece can be found on my substack at: vinibarbosa.substack.com - Brief Introduction about nanoNano is a native coin of its own blockchain created in 2015 and actively running since 2017 with all its supply completely distributed for free through faucets. No units will ever be created again, as only transactions originating from the genesis block are considered valid by the network. Its proposal is simple but bold. Become the most efficient and secure decentralized money available on the market. Read the beginners guide to cryptocurrencies and nano to learn more. The block-lattice technology and ORV consensus method is the way to this goal that nano has been fulfilling excellently for more than 6 years by offering transactions without borders, without fees (zero fees - not just small fees) and confirmed by the network in a totally irreversible and safe finality usually in less than 1 second. Investment Thesis for XNOMy investment thesis in nano is based on its ability to meet the demand for money. Buying nano is similar to someone who starts buying the dollar partially every month when decides that on a date 'XX/YY' they will travel to the United States. Or to buy Euro before a trip to Europe. Buying nano is: using a currency with worse economic fundamentals (BRL, for example) to accumulate a currency with stronger fundamentals, which has good chances of appreciation in the future, to use it as money somewhere that accepts it that way. The more XNO is adopted as money around the world, the greater the demand for this purchase and, according to the law of supply and demand, the greater the possibility that its price will increase over time. By having a maximum supply already distributed, which never increases, with all units already in circulation; any small increase in demand can be directly reflected in an increase in price and purchasing power. I've used many cryptocurrencies as money and the experience with nano is by far the best. Easier, cheaper, safer and faster. You can already use nano today, for example, as an arbitrage tool or international remittances and you will understand what I am saying — my suggestion is to use it through a self-custodial wallet and native to the network, for a more fluid and secure experience. The most used by the community are: Nault, Natrium and Nautilus. Fundamentalist Analysis on nanoFor the above reasons, nano has great fundamentals as money and as a store of value financial asset — although, to consolidate itself as a store of value, it still needs to show constant appreciation over time and this will only come with the maturity of the project long term. But its fundamental analysis goes far beyond only being a great potential SoV… With all its clear competitive advantages, I believe that there is still a huge asymmetry between the value that nano can offer to individuals and its value perceived by the speculative market. And in the risk market, ASYMMETRY = OPPORTUNITY. Asymmetry is not just a random guess, but the result of some empirical evidence and analysis of indicators, such as Market Capitalization, for example. Calculated by multiplying the current price of the currency by the total amount of coins in circulation — which in XNO never increases, with price increases being the only factor in increasing Capitalization, unlike the vast majority of coins in circulation today, including bitcoin itself . According to CoinMarketCap, XNO currently occupies the #196 position in the ranking by capitalization (~$0.86). Positioning itself behind tokens from projects that have even been discontinued, evidenced as fraudulent schemes or do not have a well-defined demand... Yes, it's serious. Let's see some of these examples and understand how much each XNO unit would be priced; within the same market cap as each of them, according to TheCoinPerspective.
Personally I consider nano, when looking at all its fundamentals, as a coin that could easily belong in the top 50 by capitalization. Which would put it, at this point in the crypto market, at around $7.60 (+782%). Of course, with the crypto market as a whole receiving more capital, the unit price could surpass this mark, but I am considering a static crypto market for the sake of analysis. Technical analysisAnd the charts are well in line with this fundamentalist perception. Looking at the long term (since the short term is extremely unpredictable): Chart - NANOUSD:KRAKEN, 1W - TradingView We see a bottom (A) at $0.28, a top (B) at $17.4 and a local bottom (C) at $0.54 — creating higher lows of A-C, which is an indicator of an uptrend. On the other hand, price has been making lower highs since B — which is a bearish trend indicator. Resulting in an accumulation/indecision triangle. However, two weeks ago we saw a weekly close above the downtrend line (B-current), while a week earlier the uptrend line (A-C) had its price support respected. Which is very positive for XNO as a risk asset. The breakout was confirmed the following week, with a retest at the B line that acted as a new price support and sent the price back up, now with more volume. At the time of writing, we are in the third week looking for validation from the breakout, which I believe is getting stronger and stronger. When plotting the A-B-C Fibonacci Expansion, we see a projection at the first level (0.61) of a target at ~$6.92. The $6.92 region is interesting because it is very close to the fundamental projection with nano at the #50 market cap position. In addition to being close to an important psychological resistance which is the Market Cap of $1 billion USD, at ~$7.50. The second level (1.0) puts the price at $33.44 (+3,500%), which coincidentally, or not, is very close to nano's all-time high, which occurred long before Kraken's listing in 2018, a few months after the complete distribution of all units of XNO. Also placed at significant resistance to nano price history The next target would be at $427.67 (+50,000%), according to the fibonacci expansion analysis theory. I believe that the first target can be easily achieved in 2023. To mark the current short term, we see XNOUSD trading inside a bullish channel on the 4h candles, with some breakout attempts to the upside. Chart - XNOUSDT:BINANCE, 4H - TradingView All of this analysis is not for investment recommendation purposes, but for pure entertainment and education. Always do your own research and confirm all information presented. [link] [comments] |
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