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Nano pumps up by 72% on a bearish day – another pump and dump?

Himanshu Kumar



Nano shakes the cryptocurrency world
Source: Pixabay

Nano according to Nano Twitter fanatics is going to create a “digital revolution” in the cryptocurrency world. The price has gone up by 74.21% with a market cap of $2 billion and the current value of the coin at $15.18. A trade volume of around $500 million kicks Nano out of the traditional definition of a “pump and dump”

Nano started to rise right when Bitcoin and other cryptocurrencies have started to fall in the market and is back on the top 20 cryptocurrency list on coinmarketcap. This can be a result of the new upgrade done by Nano on 21st Feb with the users accepting the upgrade in a positive way

Nano, previously known as Raiblocks, a cryptocurrency that provides instant transactions with zero-fees and can be infinitely scalable. Nano even has its own wallet, Nano web wallet which allows the users to control their funds without having to download the ledger.

Kirpiloji, an investment advisor on Twitter, says,

“$nano laughing at people who were saying, nano is shit coin blab la blac some days ago. Thanks for selling your nano to us cheap.”

Amber Vespucci, another Twitterati who also took this huge change positively, says,

“I try to think that I know the inside track to all things in the $Nano world. But what’s happening now is just nuts. $500 million in trading volume the past few days. Bear alt market. I guess this is just the crypto world AH HA moment. It was bound to happen.”

Ruba Maser, a cryptocurrency investor from Berlin says,

“No one can even call it a ‘pump-and-dump’ today, the trading volume was close to $500 million”

There was a lot of skeptical cryptocurrency investors in the community who believe this drastic change in the price was just another pump and dump which was waiting to happen.

Rebecca Sheen, a portfolio manager at Boston Nugg Financials spoke to AMBCrypto and says,

“We have seen multiple pump-and-dump schemes in the past couple of months with certain token going up by a tremendous 200% and then crashing back down the same way. Yes, the market now seems in favour of Nano with its ‘zero-fees’ characteristics but only time will tell if it stays that way”

Satvinder Kumar, a Bitcoin investor from Chandigarh had a rather strong sentiment and says,

“Lol… another shitty coin. Stay away peeps. Wait for Bitcoin to drop again and then you will see Nano going back down the same way it rose. Good for people who invested early though, a lot of monies have been made”

The huge shift in the Nano world has created a buzz in the virtual currency world. This sudden change in the market, especially when coins like Bitcoin is falling down has made a lot of people curious about the market situation right now.

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Himanshu Kumar is part of the Editorial Team at AMBCrypto. He dropped his Engineering studies to pursue his passion in the research of Artificial Intelligence and Blockchain. He has an extensive three-year developer and editorial background in the space of cryptocurrencies. He currently does not hold any value or sentiment with any cryptocurrency or its projects.

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