Massive Gains for Nano (NANO) following BrainBlocks Adoption
The crypto market exhibited major fluctuations last week. The market leader, Bitcoin, was initially falling by less than one percentage point but is now experiencing a marginal 0.13% gain. Nano (NANO) has been making significant leaps since the bearish consequence of the collective December 2017 high and is now up to $2.70, a significant 14.07% leap in the past 24 hours.
The cryptocurrency, which expounds its instant and zero-fee transaction features, has achieved a market capitalization of $360 million. This sudden spike in its prices is attributed to the recent announcement of BrainBlocks.
BrainBlocks (previously called Raiblocks) recently announced the launch of its point-of-sale (PoS) system, which will enable tangible retail stores to accept Nano, its underlying cryptocurrency, to facilitate payments.
The system set up by BrainBlocks is quite user-friendly, as explained by the company’s co-founder Ty Schenk via a blog post. He lays down three simple steps to set up the system, setting an address, picking a fiat currency and tapping into the PoS service.
Mike Doyle, CEO of the Nano-backed KPI Gaming group, said that this feature is more than just an optimistic idea as it has already been used with a retailer.
Scan, confirm payment, done.
No waiting, no fees, no shenanigans pic.twitter.com/8ZeIo2LyNL
— Mike Doyle (@esmikedoyle) September 14, 2018
Since the system is quite simple to use, without fees and with no issues, merchants in this space will slowly but surely gravitate towards this concept and integrate it with their businesses.
Another factor for the coin's sudden surge in price comes from the exchange Barinex. The crypto-to-fiat exchange recently announced that the cryptocurrency will be used to trade to the following fiat and crypto-currencies: USD, GBP, EUR, USDT, BTC, ETH, and LTC shortly.
Image via Shutterstock & chart from CoinMarketCap
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