Cryptocurrency News & Discussion

Nano is a coin that has no fees. It also has instant transactions. You always hear complaints about trading fees, and most notably during the memecoin mania when transaction fees were $20-30 on average and could go even higher. You would think that a coin with no fees would be an instant hit. It would be amazingly popular and change the entire landscape of crypto. But you’d be wrong.

Nano actually, is not even ranked in the top 100 tokens. Worse, it is not even ranked in the top 200. Nano is actually ranked around #270. Outside of real crypto hardcores who are really in it for the tech, you’re unlikely to ever hear the name even mentioned, and further recognized even if it is mentioned. However could a “game-changing coin” like Nano have so little recognition?

The obvious answer is profits. Nano might have loads of utility but utility doesn’t matter next to big gains. As a matter of fact, the very utility Nano offers is what kills the possibility of a huge price pump and hence interest. Having no fees actually means there are less ways for traders to make money and profits which means it’s left by the wayside, utility be damned.

No fees means there’s no constant and wild swings of buying the token for dynamic gas prices from unpredictable demand thus raising the price. There’s also no excess buying where traders buy a lot more of the coin for gas than they need for just the current transaction. Which means there is no reason for scalpers and speculators to take interest to profit off haphazard buying to pump and dump the price. It also means that there’s no community of miners, who may hold or sell to create trading opportunities for profit and no stakers, who support the price by buying and holding tokens while staking, both of whom create trading opportunities for price swings. Very notably, Nano network does not support any tokens or smart contracts(like the Bitcoin network) so the only potential profit-making venture is through a single currency of Nano coin itself with basic trading compared to potential profits of hundreds if not thousands of other tokens with smart contracts trading opportunities.

In actuality, Nano’s amazing utility is actually terrible for its price.