This Nexo (NEXO) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our NEXO price analysis and prediction.
There are various cryptocurrencies that rose to a new all-time during this 2021 bull run. In contrast, some crypto assets also faced a price drop. As a result, many digital currency traders are worried about whether it is time to hold or sell their digital assets. This is also the same situation that crypto traders could experience in NEXO.
Nevertheless, the crypto market is consolidating lately, and many cryptocurrencies are losing their previous profits. Will NEXO experience the same price volatility? We’ll find out shortly in this NEXO price analysis 2021 article. But first, let’s have a look at what NEXO is.What is Nexo (NEXO)?
Nexo is a blockchain-related lending firm that provides users instant crypto-related loans. Moreover, users deposit the tokens such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC) or XRP (XRP) as collateral to get a loan in the form of a fiat currency or stablecoin.
NEXO is the native token of Nexo blockchain that will be locked in the platform which offers users benefits like discounts on interest gathered on loans and the chance to get interest payments on the funds deposited. More so, the token holders will receive dividends from the profit of Nexo. Notably, the project was first announced in December 2017, and it was released in April 2018.
Nexo was founded by a group of finance professionals and crypto enthusiasts, who turned to blockchain to develop the crypto equivalent to a service well established in traditional finance. However, hitherto non-existent in digital finance— borrowing against the price of your assets whil...