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Nano (NANO) got another high-profile trade announcement on Halloween night when he was added to the Huobi cryptocurrency exchange.
Huobi is the third largest encrypted exchange in China and has regularly seen daily volumes of almost half a billion, even now in the fourth quarter of a bear market.
However, contrary to the normal trajectory that a currency takes when it obtains a high profile profile, the NANO price actually declined as soon as it entered on the first day of November.
Perhaps a sign that not all exchange ads are created equal? Or maybe just a case of bad timing, as the listing was substantially under the market push of October 31?
Nano in China
Huobi only allows fiat deposits in CNY (Chinese yen) and boasts the usual trio of gateway pairs: BTC, ETH and USDT. The addition of Nano should further open the currency to the Chinese markets, and even if the currency has registered a loss for today, it should be a good alternative for the future.
Given that Nano has recently been ranked as one of the fastest cryptocurrencies when it comes to depositing it in the stock exchanges, one might expect the arbitrage operators to take full advantage of it.
The deposits are open since yesterday in the exchange, with the NANO / BTC and NANO / ETH couples open for trading this afternoon.
According to the official announcement of Huobi:
"Nano (NANO) will be launched on Huobi Global on October 31, 2018 (GMT + 8) .T deposits will be available from 4:30 pm, October 31, 2018 (GMT + 8) .Nano / BTC and NANO / ETH trading will be available from 17:00, 1 November 2018 (GMT + 8) Withdrawals will be available from 4:30 pm, 4 November 2018 (GMT + 8). "
As always, even if the advantages of the quotation will not be felt in the near future, they will surely feel during the next bull run. At present, over 80% of NANO operations still come from a single stock exchange – Binance.
NANO / USD update
Despite a short 2% peak on Thursday morning morning, Nano was trading at a lower price than when it was opened in the afternoon.
From a $ 1.98 opening, the price of coins fell 2% to $ 1.94. This was accompanied by a serious decline in trade volumes, as $ 5 million left Nano in a matter of hours – halving the sum of $ 10 million yesterday.
All this translates into a countertrend to the recent trend when it comes to exchanging listings. Recently Decred (DCR) increased by 29% when it was announced for a list on Binance, while PIVX (PIVX) got 27% earnings on a Bithum list.
Despite a new Nano release of the wallet this week, it seems that all of Nano's purchasing power has been exhausted during the recent peak of the Halloween morning, when $ 3 billion has been added to the encrypted market in general, and Nano is rose from a valuation of $ 1.86.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. It holds investment positions in the currencies, but does not carry out trading activities in the short term or daily.
Featured image courtesy of Shutterstock.
