Tag: Nano (NANO)

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Crypto News

New York Court Dismisses the Lawsuit Against Nano (NANO) Devs in the Bitgrail Case

The judge of the district of New York, Nina Gershon, recently rejected the class action lawsuit on the developers of the Nano (NANO) cryptocurrency for the case of hacking that affected the Bitgrail crypto exchange, which generated losses of up to $200 million at that time. According to documents filed this week by the New York Court, the lawsuit, which had been filed in April 2018 by an investor identified as Alex Brola, would have been rejected by the authorities one month after the plaintiff voluntarily withdrew the legal remedy.

The lawsuit indicated that Nano (NANO) team was primarily responsible for the theft that affected the Bitgrail crypto exchange last February, when a total of 17 million NANO, estimated at approximately $200 million, were stolen. Alex Brola claimed, both on his behalf and on behalf of all those affected by the hack that the team behind Nano (NANO) would have violated the US securities laws by encouraging users to trade in an exchange house that was not registered nationally, as Bitgrail was of Italian origin.

To make matters worse, they also pointed out that the developers had not applied all their methods at their disposal to recover the stolen cryptos. Some indicated that a possible hard fork of the Nano (NANO) network would have avoided the losses of the investors and even demanded a compensation with the creation of a new cryptocurrency to cover the damages.

New York court dismisses the lawsuit against Nano (NANO) devs in the Bitgrail case

However, a few months after introducing the suit, Brola voluntarily withdrew it without issuing any statement, although some consider it to be due to lack of merit in the lawsuit. Beyond this action, Nano (NANO) developers asked the authorities to review the lawsuit case and dismiss it, a petition that was carried out by Judge Nina Gershon.

Among the arguments outlined by the developers to dismiss the accusations, it was stated that the tokens distributed by Nano are not guarantees, much less value, because they do not depend on a group of investors, so they are not subject to the securities laws of the United States.

“The value of Nano (NANO) is not derived from a group of managers or executives who manage other people’s property; rather, the value of Nano is derived from its usefulness or potential usefulness as a cryptocurrency,” Nano (NANO) devs stated.

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Crypto News

Nano (NANO) Can Be Purchased at a Significant Discount in Light of Recent BitGrail Hack Attack

Investing money in cryptocurrencies is as risky business because it’s nearly impossible to tell when an altcoin’s price will go up or down. Therefore, we advise all cryptocurrency enthusiasts to never invest more than they can lose. Nonetheless, Nano is making headlines today because its price has taken a drastic dip during these past couple of days. The reason why Nano’s price is down is directly related to the BitGrail controversy.

The BitGrail Controversy

In case you didn’t know, recent reports are showing that a group of hackers managed to steal 15 million of XRB tokens via the BitGrail exchange. This means that $150 million worth of XRB tokens were stolen from investors and this led to people losing their trust in Nano and the developers who are in charge of it.

Directed Acyclic Graph Architecture

On the bright side of things, analysts are reporting that if we omit the BitGrail hacker attack, Nano is a great altcoin to invest in, especially when it comes to blockchain technology. Nano is the first ever altcoin to utilize the Directed Acyclic Graph block lattice architecture and this is quite important because it gives Nano an edge over its competition.

The Directed Acyclic Graph architecture makes it possible for Nano to feature faster transactions than other altcoins who are using older architectures such as Bitcoin for example. Fast transactions make Nano an ideal payment altcoin, but things get even better than this.

No Fees

The main reason why Nano is such a great payment altcoin is because it doesn’t charge any fees. Therefore, investors who are looking to perform fast transactions without having to worry about fees should consider giving Nano a try. In addition, Nano’s price is currently lower than usual, and this means that investors can purchase it at a significant discount.

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Crypto Markets

ICON (ICX), Cardano (ADA), And Nano (NANO) Price Analysis

Today, the cryptocurrencies market have benefited from a rapid upward movement. ICON (ICX) has been in full upswing, Cardano (ADA) is also “green”, while Nano (NANO) is dropping, losing about 4.7%. On the other hand, Bitcoin (BTC), the biggest crypto by market cap, has also risen in value against USD yesterday by shed the gains today, currently trading at $7,382.

ICON (ICX) price analysis

The ICON price is currently trading higher than the moving averages on the 30′ chart. In addition, the split between the 50 SMA and the 100 SMA is now starting to shrink to signal that purchasers are recovering their grip.

The bullish traders are struggling to break the $2.60 resistance but are keeping their eyes on the $2.7 and $3.0 levels. The short-term support regions will arrest the downward trend at $2.5 and $2.4 support levels.

Now, ICON (ICX) trades at $2.57

Cardano (ADA) price analysis

The Cardano ADA price has recently quoted the new May minimums after plummeting under $0.20. Yesterday, the ADA/USD pair exceeded the critical resistance level at $0.18 but stood at over $0.17 level.

Also yesterday, Cardano (ADA) chart presented a strong resistance level around $0.20. As Cardano (ADA) moved over this level (trading at $0.204, at the moment of this article) will encounter more resistance at the 78.6% Fiber Retracement level, with a peak at $0.31 and a minimum at $0.172.

However, the sentiment is bullish for the time being.

Nano (NANO) price analysis

The Nano (NANO) price was among the major earners in the cryptocurrencies market yesterday as its value against the USD soared by more than 14%.

Unfortunately, today Nano (NANO) plummeted below the $4 support level as it is now trading at $3.87, as it records a quite massive drop of about 6% in the last 24 hours, at the moment of this review.

Nano (NANO) lost the momentum it gained yesterday when the bulls pumped in the cryptocurrencies market and is now supporting a correction which might force the coin drop even more.

In short, today, May 30th, the cryptocurrencies market is continuing the slight recovery after a long period of turmoil and significant drops.

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Crypto Finance News

Nano (NANO) back on the right track with Smartphone compatible wallet

The crypto market went through some hard times lately. The prices went down for all coins after the unexpected jump at the beginning of the year. However, some coins seem to get back on their feet slowly.

Nano (NANO) is one of the virtual coins that is ready to fight with the big players like Bitcoin and Ethereum. While the market is receiving new competitors every day, Nano remains confident that it is able to face them. Here is what it has to offer:

Recognition

Not all coins manage to obtain listing in major exchanges. Nano received recognition for other important players in the market, including the founder of Litecoin, Charlie. The experts also appreciate Nano for its smart ecosystem that does not use too many resources.

Smartphone compatible wallet

Having a wallet is very important for a crypto coin, and users can benefit from it. One of the advantages of the Nano wallet is the fact that it is smartphone compatible. This means that you will be able to access your money even when you are on the go.

Having a wallet that is available on a smartphone makes it more accessible and easier to use. Which is definitely something that users will appreciate. The light wallet is considered an important one and it improved the reputation of Nano.

In fact, Binance exchange offered a reward to the Nano community, for being one of the best communities on the crypto market, which is an important accomplishment.

NANO tokens can be also used on Twitch, which is an online game streaming company that operates globally and is owned by Amazon. Since there are thousands of users, there is a chance that the NANO coin will be adopted by even more people in the future.

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Crypto Finance News

Investing in Cryptocurrency: Nano (NANO)

Cryptocurrency is one of the most popular subjects among investors. After the big boom at the beginning of the year, it is not hard to see that cryptocurrency is here to stay. However, while Bitcoin remains the most powerful coin, many investors prefer to look at other alternatives.

Nano (NANO) is a currency that appears to regain its position, despite the fact that these are hard times for crypto. At the moment, the price reached $5.97292. This is a good step forward, as the settlement of the price was of -13.53% the last day.

What is Nano (NANO)?

The Nano platform was launched by RaiBlocks and Colin LeMahieu back in 2015. There, Nano (NANO) was used as cryptocurrecy. The platform was great for peer-to-peer transactions. There were numerous advantages, including the fact that users were able to make the transactions instantly, which means tha this coin could be used on a daily basis, including for regular purchases.

Should you invest in cryptocurrency?

If you are looking to invest in cryptocurrency you should know that there are both advantages and disadvantages. For example, one of the risks with cryptocurrency is the fact that it can be very volatile, and this is something that has been proved with Bitcoin. Bitcoin has a huge rise and then it went back down. Expert opinions are usually divided and some believe that the prices will jump up again, while others think that Bitcoin will go down for good.

Cryptocurrency also requires some degree of research, as it is important to understand the technology behind it before you decide to invest in it. There are also numerous factors that need to be taken into account. For example, you should know that supply for the currency, as well as the processing speed.

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