RaiBlocks (XRB) has had some trials and tribulations this week. Firstly, the cryptocurrency lost some 20% of its value (dropping from $18.60 to $14.90) after a digital asset exchange announced that it would be suspending support for all non-European users. Up to now, BitGrail was one of the few trading platforms that allow trading in RaiBlocks, making it very popular with the XRB community. About a quarter of all XRB trades in the 24 hours to January 30th went through BitGrail, which amounted to nearly 85% of the exchange\'s entire trading volume. The exchange\'s decision relates to legal complications surrounding KYC (Know Your Customer).

BitGrail has apparently now disabled XRB deposits and withdrawals, causing some in the community to wonder if it is a scam. The company is known to have disputed publicly with the RaiBlocks team, when it experienced technical difficulties in implementing the XRB currency into its platform.

Secondly, however, the coin\'s value started an uptick on January 31st after being mentioned on CNBC\'s Fast Money programme – and after announcing a proposed rebranding. Set up in October 2017 and named after a stone currency used exclusively on the island of Yap, RaiBlocks technology makes viable very rapid, small transactions, prompting a possible new name of NANO.