Nexo is underperforming the market due to a reason
I am writing this comment from a banker perspective, who is mainly invested in stocks.
I got introduced to the project through a friend of mine, and was extremely excited as it was a crypto with true fundamental value, as it paid out a dividend dependent on the net income of nexo. With this ongoing dividend stream, nexo could be seen similar to a stock, and hence many bigger investors were also interested in it. In fact, I have seen several high profile banker calculating dividend discount models, which expected the price of the nexo to increase to 50$+ in the next 5-10 years.
However, with the governance vote the token has no utility anymore and especially no fundamental value - before the vote you could analyse the price, and you could even guess when it’s undervalued or not. Right now, the true value of the token could be as low as 1c.
Contrary, with the dividend (which was estimated to be 10c for 2021) the current price would equal a Price earnings ratio of just 12, which is incredibly low and thus more kmvestors would have bought the dip. (Including me)
Generally speaking, I was extremely bullish for the long term, but since the token has no fundamental value anymore (and if you hold above 10% of your portfolio in nexo it has 0 utility) I ended up not buying any nexo tokens and have lost the interest in nexo.
I totally get that many of you who are invested and haven’t sold your stake yet try to push nexo and say that it will reach its new ATH soon to get other people into the project as well. In my opinion everyone should really consider the risks and downside of nexo, as the upside is - after the governance vote - limited in my opinion and entirely based on speculation.