Recently NANO has gone through quite some controversy as the infamous exchange Bitgrail announced that a shortfall of 17 million NANO had hit the exchange. Uncertainties surrounding Bitgrail had already surfaced before this announcement causing a NANO sell-off, which was followed by an even bigger sell-off following this announcement. Many believe a coding mistake was the reason for all of this, allowing users who knew of this bug, to withdraw more NANO than they held in their Bitgrail account.
NANO fell to $6.63 the 6th of February from its high of $37.62 back in early January, an 83.37% decrease in value. The price did, however, recover some of its losses and has been around $14 dollars for around a week now, an increase of 111.16%. This was following bitcoin’s recovery and news that Nanex teamed up with 1UpCoin to provide NANO as a donation option for Twitch streamers.
Another piece of interesting news regarding NANO was when the creator of Litecoin, Charlie Lee, started taking interest in the coin. Two days ago he started asking questions about the NANO technology as he was intrigued by NANO’s claim of being highly scalable, fee-less, fast & decentralized. Charlie posted this post on the NANO subreddit:
Creator & Lead Developer of NANO, Colin LeMahieu, answered the following
And guessing from Charlie Lee’s recent activity on Twitter, it seems he was satisfied with the answers he got from the NANO creator, as Charlie tweeted this
I took a look at Nano currency recently. Pretty neat. Every account has it's own blockchain. It focuses on fast and free transactions for payments. Uses PoS for double spend protection and PoW to fight spam. The challenge is to keep it decentralized.
Disclaimer: I own some NANO pic.twitter.com/ygt5OltpN1
— Charlie Lee [LTC] (@SatoshiLite) February 28, 2018
Right after Charlie let the public know that he in fact now is a NANO hodler, the price of NANO instantly spiked up around 8.62% to a value of $15.11.