DeFi boom and Bitcoin rally position NEXO to close 2020 with a 480% gain
Bitcoin is currently the center of attention but savvy investors have also noticed that Nexo token has rallied 480% in the last 3 months. Over the past three months NEXO token, the native asset of Nexo’s blockchain-based lending platform, has increased by more than 480%. Since Bitcoin (BTC) traded for $10,000, NEXO price has closely tracked BTC but the performance is somewhat lackluster when compared to the 1000% rallies seen from a handful of DeFi tokens. NEXO/USDT daily chart. Source: TradingViewThe project was initially revealed by the European FinTech Group Credissimo in late 2017 and....
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Analysts fear NEXO price could come under pressure if regulatory action in the United States begins to intensify. Crypto lending firm Nexo is at risk of losing half of the valuation of its native token by the end of 2022 as doubts about its potential insolvency grow in the market.Is Nexo too centralized?For the unversed: Eight U.S. states filed a cease-and-desist order against Nexo on Sep. 26, alleging that the firm offers unregistered securities to investors without alerting them about the risks of the financial products. In particular, regulators in Kentucky accused Nexo of being....
There’s truly never a dull moment in DeFi. Reports have emerged this week that interest-yielding platform Nexo is pursuing an acquisition of an SEC licensed broker dealer with the intent to offer a “modified version” of the company’s products. How this would impact their current offering is unclear. The move comes at a time of seemingly increased rocky roads for DeFi platforms. Interest-Generating Products & Disruptive DeFi Along with the company’s pursuit of a licensed broker dealer, Nexo is also in talks with nationally chartered banks. The platform is....
NEXO was up by nearly 50% on Friday, as markets reacted to the news that Binance was listing the token on its platform. Today’s surge sent NEXO to a multi-week high, while TRON also moved higher, hitting a one week peak.
NEXO
Two weeks after announcing a partnership with Mastercard to launch the world’s first “crypto-backed” payment card, NEXO today achieved another milestone.
Binance confirmed that it will be adding the token to its platform, and this news was well received by markets.
NEXO/USD rose by nearly 50% during....
Nexo says it currently has no exposure to Three Arrows Capital and has 100% liquidity to meet its debt obligations. The price of Nexo (NEXO) continued to fall on June 15 as crypto lending firms continue to be shaken by the falling cryptocurrency market.Meanwhile, Nexo has denied rumors of exposure to Three Arrows Capital (3AC), a Dubai-based crypto fund facing insolvency risks.NEXO price suffers on DeFi contagion fears NEXO, which serves as a security token at a cryptocurrency lending platform of the same name, fell nearly 25% to $0.61 a unit, its lowest price reading since January 2021.....
It's all about location and perception. Much has been said about attractive interest rates offered by popular crypto lending platforms like BlockFi, Celsius Network and Nexo. However, there are two sides to every coin. Paying out high interest rates requires charging even higher rates to the borrowers. Yet, Nexo co-founder Antoni Trenchev disagrees that crypto lending rates are high. In an interview with Cointelegraph, he said that this reflects the “Western” view, where the prevailing interest rates tend to be low. But it is not the case in the developing world, he said:“But for people in....