Nano Was August's Top-Performing Big Crypto Despite Yearly Low

The high rate was a telling sign that traders were uncertain about price direction, utilizing bitcoin to exit the market through a transfer of crypto to fiat.

One name made a substantial case against broader bearish market conditions to reach the top spot of August's best-performing crypto assets.

Nano delivered exceptional gains during the second half of the month despite falling to a yearly low of $0.74 on Aug. 14.

After fighting off the worst day in its two-year history, nano rose 73.85 percent over the August period and outperformed the top 30 cryptocurrencies by market capitalization to finish ahead by a margin of 50 percent against the other big names according to CoinMarketCap.

The token's overall market cap also rose more than $160 million on the month, almost doubling from $260 million to $420 million, and pushing its ranking briefly from 27th to 24th on Aug. 30 before it slipped back to 28th spot on the final day of the month.

All-time high: $34.43.Closing price on August 31: 3.01.Current market price: $2.92.Rank as per market capitalization: 28.

Nano began its climb on Aug. 15 after the bears were finally exhausted at the yearly low of $0.74.

Nano was supported by the 8-day exponential moving average over the second half of August, which had acted as the resistance level during most of the month of July.

As Nano closed convincingly above on Aug. 16, a bearish-to-bullish trend change occurred.

Correction: This article has been amended to correct an error that said nano had hit an all-time low in August.