In the latest crypto news, RaiBlocks rebrands to Nano.
The instant transactions, zero fees, infinitely scalable altcoin RaiBlocks (XRB) announced today that it would be rebranding itself. Nano will be its new identity. That means no more uncertainty over the pronunciation of the name – Ray? Rye? – because now the name is sleek and simple. The question now becomes, what does a rebrand mean for Nano?
So far, it’s purely good news. Currently, XRB is selling for $19.81. The coin has gone up 37.77% in the last 24 hours, making it the biggest crypto changer for the day. However, it’s not quite clear whether this increase is due to the rebranding or if it’s just part of the ebb and flow of crypto. XRB has, after all, done better in the past, selling for $32.00 at the beginning of January.
Nano is ranked as the 22nd highest cryptocurrency by market cap.
RaiBlocks’ rebrand has been highly anticipated and much discussed by those in the crypto community. People can’t seem to decide if the rebranding is a good idea or not. On the one hand, Nano is, relatively speaking, a more workable name to market and pump people up about. On the other hand, transitions like this always run the risk of confusion, not everyone getting the memo that the rebrand has taken place.
On top of that, there is the wallet Ledger Nano S. The wallet and the token have nothing to do with each other, but now that RaiBlocks is going to be going by Nano, some people might think they do.
The team obviously thinks this is the right move for the token. According to them, all processes will remain the same and for the time being, addresses will continue being listed as xrb_. nano_addresses will come later down the road. The team is open to any and all questions the community may have about the rebranding process and transition.
The team wanted a name to reflect what the crypto represents: simplicity and speed. For them, Nano is the answer.
Is Nano the answer for you?
It’s been a few days now since the rebranding of RaiBlocks to Nano and the coin continues to do well. Save for yesterday when all but two coins were down due to the India crisis, Nano rebounds today with a 10.07% increase in the past 24 hours. The coin is selling for $17.87 currently, which means it is down from its selling point of two days ago, but it has jumped in market cap. Nano is now ranking as number 16 by market cap.
The most exciting news is that Nano is now officially trading on Binance, as of this morning.
Feature image: Forbes