![]() NEXO has recovered from its listing day low of $2.1 rising steadily overnight to gain 38%. We interviewed Trenchev whilst at the Paris Blockchain Summit. What’s exceptional here is the mutual contribution to the future of finance.” Binance listing our token is a prime example of two of the biggest names in crypto working together to boost the ecosystem and bring improved market opportunities to users. “Nexo has had synergies with Binance from the very inception of our business through the addition of BNB to our Instant Crypto Credit Lines and the BEP2 version of the NEXO Token. On the listing, Antoni Trenchev, Co-founder and Managing Partner of Nexo commented, Exchange Seamlessly Swap any asset for BTC with lightning speed and no price fluctuation on Nexo’s Crypto Exchange. The token is still up on the day regardless of the daily volatility. 23.53 24H 1.23 Layer 1s Layer 2s Currencies Stablecoins / 1 of 4 Get the Most Out of Your Crypto with Nexo Earn Interest Earn daily compounding interest on your BTC, at industry-leading rates with our Earn on Crypto suite. However, the nature of the NEXO platform incentivizes users to hold their tokens in order to retain their APY in savings accounts for other tokens. The volatility of the crypto market is clearly evident as buyers who bought the peak are down 38% in less than an hour. The token fell back to $2.2 within an hour of the listing. This story is developing, and we will update this article with further information.Īs Bitcoin fell back under $39,000 it seems that the momentum has been taken out of NEXO’s Binance debut. The price is highly volatile, typical for new listings on large exchanges. The announcement may have been the catalyst for investors to jump in on other exchanges such as BitFinex before going live on Binance. The launch was postponed by 4 hours after it had already jumped 20% in anticipation of the listing. ![]() By holding at least 10% of your balance in the native NEXO token, you can get 0%APR for low LTV amounts. Nexo recently realized their crypto-backed card that allows users to take credit lines using crypto as collateral. The token, which launched at 14:00 UTC, is currently trading at $2.9, having hit a peak of $3.5 earlier in the day. Moreover, the Nexo token's development team also described the Merge upgrade strategies.The native token of crypto exchange NEXO is up 40% on April 29 following the token’s launch on Binance. This was because the development team behind the Nexo token was describing the techniques for the then-coming Ethereum (ETH) upgrade Merge, which indicated that it was on board with the network's transformation to the Proof-of-Stake (PoS) algorithm. ![]() The organization ensured its clients would continue to have uninterrupted access to their funds and that its payment specialists would continue to process withdrawals while the situation was resolved.Īt a certain point in August, the Nexo token also captured the finest daily progress from among the top 100 cryptocurrencies. The following is an additional explanation provided by the platform in its blog post: "It is now unfortunately clear to us that despite rhetoric to the contrary, the US refuses to provide a path forward for enabling blockchain businesses, and we cannot give our customers confidence that regulators are focused on their best interests." This decision was made after "more than 18 months of good-faith dialogue with US state and federal regulators which has come to a dead end." Source: ( 4) Notably, Nexo has been posting gains since it announced ( 3) that it would gradually withdraw from the United States over the upcoming months. Here are some of the best reasons to borrow with Nexo: Rates from 0- 13. Source: Coinmarketcap ( 2.1) What is the Reason for the Price Sprint? ![]() Per data provided by CoinMarketCap, the current market capitalization of Nexo amounts to $378.46 million, which places it as the 81st-largest decentralized finance (DeFi) asset by this indicator. This increase comes as the company works to recover from a loss of 31.67% on its monthly chart. Source: ( 2) What's Happening to Nexo Pricing?Īt the time of publication, the price of NEXO was $0.678, representing an increase of 2.58 % on the day and a decline of 1.5 % over the previous week. These gains have been recorded on both the daily and weekly charts. We analyze the reason for this price spurt.ĭespite the ongoing unpredictability in the cryptocurrency market, largely due to the failure of the trading platform FTX and the ensuing sell-off, certain digital assets, such as the cryptocurrency lender Nexo, continue to perform admirably (NEXO).Īccording to statistics from CoinMarketCap ( 1) on December 8, Nexo's native token has been topping the top 100 cryptocurrencies in 24-hour gains, putting it in third place despite the uncertain future. NEXO is currently in first place among the top 100 Tokens.
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