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Nexo(NEXO)

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$0.859545
(-8.71%)
0.00004032 BTC
Market Cap (Rank#88)
$481,345,245
22,579 BTC
Vol 24h
$654,740
30.712 BTC
Circulating Supply
560,000,011
Max Supply
1,000,000,000
2 days agocoindesk
Crypto Lender Nexo Sues Former Director Over $7.9M Trading Loss: Report
Cryptocurrency lender Nexo is taking legal action against its former director, Georgi Shulev, on claims that he failed to keep his side of a settlement agreement.
28 days agocoindesk
Nexo, Crypto Lender on Prowl for Ailing Rivals, Faces Declining Deposits
An analysis of attestations of Nexo assets – including older data retrieved using the Wayback Machine – reveals just how much the crypto lender's deposits have declined in recent months.
29 days agocryptodaily
Crypto lender Vauld files for protection from creditors as Nexo waits in the wings
Vauld, the crypto lender backed by Peter Thiel, has filed for protection from creditors based in Singapore. The move comes after the company suspended all customer withdrawals from its platform. Nexo is in talks with Vauld about a possible buy-out. There are now several platforms like Vauld that are in a perilous position. However, Vauld has not filed for Chapter 11 bankruptcy like some. Instead it is just seeking temporary protection from its creditors so that it can gain the time to work on the business and put it in a better shape to withstand the drawdowns that are happening across markets. The company recently announced in a corporate statement in its blog: “The management has decided that, in light of the current circumstances, it would be in the best interests of all stakeholders (including creditors) to file the Application for a moratorium order in favour of Defi Payments. This is so as to give Defi Payments and the Vauld management the breathing space it requires to prepare for the intended restructuring for the benefit of all stakeholders.” So far, the impact for Vauld has been that nearly $200 million was withdrawn from the platform prior to the withdrawal suspension around two weeks ago. In addition, the crypto lender cut its workforce by 30% in order to help it manage its costs. Meanwhile, Vauld has stated that it continues to have discussions with London-based crypto lender Nexo, which has offered to acquire 100% of Vauld so that it can increase its footprint in Asian markets. “At this time, the Vauld Group continues to have discussions with Nexo Inc whilst Nexo Inc carries out is due diligence, and also explore potential restructuring options that would best protect the interests of the Vauld Group’s stakeholders.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
33 days agocoindesk
Bitcoin’s Up, Gold’s Down, the Euro Is Dragging – and It’s All Inexorably Tied
Bitcoin the inflation hedge; the prodigal child returns.
44 days agozycrypto
Embattled Crypto Lender Vauld To Be Acquired By Rival Nexo
Singapore-based crypto trading, and lending firm, Vauld is on a path to being acquired by rival crypto Nexo. Reports of the 100% acquisition deal come at a period when Vauld appears to be having some financial struggles – a pattern that has remained dominant in the crypto lending space of late. Nexo has a 60-day […]
45 days agocryptosrus
What Nexo’s Term Sheet With Vauld Means For Their Customers
Nexo signs a term sheet with Vauld. We go over what that means for Nexo, Vauld, and Celsius holders alike. Covered: Nexo Term Sheet With Vauld What This Means For Crypto Savings And Lenders And Their Customers Nexo Term Sheet With Vauld Nexo announced today that it signed a term sheet to potentially acquire fellow […] The post What Nexo’s Term Sheet With Vauld Means For Their Customers appeared first on CryptosRus.
45 days agocoindesk
Nexo Signs Term Sheet With Vauld for Potential Acquisition: Report
Nexo said it has a 60-day exclusive due diligence period in which to decide if it will acquire up to 100% of Singapore-based Vauld.
45 days agocryptopotato
Nexo Might Acquire Distressed Crypto Lender Vauld
Following the recent troubles of Vauld, Nexo might step in and acquire the Singapore-based crypto exchange.
53 days agocryptopotato
Nexo Issues Cease and Desist Notice to Anonymous Twitter User Over Recent Allegations
A Twitter user had accused Nexo co-founders, and their families of stealing funds for charities meant for children. Nexo has hit back with a cease and desist notice.
53 days agocryptodaily
The Key to Crypto Success: Be Lazy and Do Less
The cryptomarkets are volatile beasts at the best of times. In recent months they have been in volatility overdrive, with one bloodbath following another as basically every token with any utility crashed and burned. Those who bought in at the height of crypto’s astonishing bull run in 2021 - and there were many - have been absolutely REKT by the disaster that followed. While Bitcoin is currently down about 70% from its November all-time high of $69,044, altcoins have fared even worse, with the likes of SOL down 85% and AVAX crashing by an incredible 93% in the last few months. Some have tried to trade their way out of trouble, but even the best traders can get REKT. Smarter traders operate on the idea that every good trade helps them to survive a couple of bad ones, but when the market is in freefall it becomes tough no matter what you do. Add to that, trading is a labor-intensive occupation that’s far too absorbing to be just a side hustle. Once you get started, it becomes incredibly consuming, with every waking moment spent watching the charts, news and trends in an attempt to second-guess what will happen next. So what to do in a bear market as depressing as this one? Try as we might, it’s almost impossible to do nothing at all, and all the more so when your portfolio’s value evaporates to nothing before your eyes. Luckily for crypto fans this is a unique space that always presents opportunities to eke out a profit, no matter what the market conditions are. Even better yet, there are ways to do so that don’t involve spending countless sleepless nights watching the market crumble away to hell. Here are five of the laziest yet most profitable ways to make it big in crypto. Staking First up is taking, which is something that can only be done on a proof-of-stake blockchain. PoS, as it’s known, provides a way for network users to participate in the validation of new transactions to the blockchain and earn rewards for doing so. Staking is perhaps the simplest way to earn money from crypto because unlike miners on proof-of-work blockchains, there’s no need to invest in tons of expensive hardware. All that’s needed is to deposit tokens on a platform that supports staking. The rewards will be determined by the amount of coins staked, though bear in mind that they are paid out in the same native token, whose value constantly fluctuates. So, if the price of the token drops, so does the value of the rewards. Some of the best blockchains for direct staking include Coinbase, Crypto.com, Binance, eToro, Kraken and Gemini. The way staking works is that, the more tokens staked the higher the rewards will be. The exact mechanism for choosing a validator varies from network to network, but in most cases it's a randomized process that gives greater weight to those who stake more tokens. The average rewards vary from token to token, but as an indication most platforms that support Ethereum staking will pay out an APY of 6%. From the lazy investor’s point of view, the most important thing to remember is that the more coins you stake, the higher your rewards can be. Providing Liquidity Also known as yield farming, this involves depositing coins into liquidity pools on decentralized exchanges. DEXs, as they’re known, incentivize users to deposit tokens into their liquidity pools so that traders have the liquidity required to make seamless, instantaneous swaps on their platforms. This is unlike centralized exchanges, which rely on order books to pair the various buy and sell orders they receive. LPs can then receive a portion of the transaction fees generated by each pool as a reward for locking up their assets and providing this liquidity. Liquidity pools are created using smart contracts that self-execute and often require that users agree to lock their tokens in the pool for a specified amount of time. This can be risky because you never know what will happen to that token’s price during that time, but the rewards are among the highest of all in terms of passive income, with some platforms offering an APY of 30% on the best known tokens. Providing liquidity isn’t without risk though. Because most liquidity pools are dual-asset pools, participants are usually required to deposit both tokens in a pair. This puts them at risk of impermanent loss, which is a unique risk that refers to the value fluctuations of those two assets. Impermanent loss occurs when funds are deposited into an Automated Market Maker and then withdrawn at some later date. In some cases, the price movements might mean the LP has lost more money than they’d have made simply from hodling those tokens. Luckily, there are a number of DeFi protocols trying to address this risk. Balancer has created a unique approach to liquidity that makes it possible to provide liquidity to Ethereum trading pairs without exposure to the price of ETH. So they can earn passive income on the trading fees of assets such as MKR or ZRX, without any risk of impermanent loss. Users simply earn rewards from the trading fees involved in those asset swaps. Further, it provides higher returns on low demand assets by leveraging arbitrage opportunities and the desire to mitigate slippage. Lending Another opportunity to make money in crypto is with lending, the concept of which is fairly self explanatory. Lenders can earn a profit by putting their funds into a pool that other users can borrow against. There are multiple platforms that facilitate crypto lending, with some of the most popular ones being Aave, Compound and Nexo. What’s great about this model is that borrowers are still vetted by third parties and they are often required to deposit some kind of collateral, usually another kind of crypto token. What’s more, by depositing tokens into a pool with other user’s funds, the risk of a borrower defaulting on a loan is spread across multiple users. In the case of Nexo, the exact level of interest paid out depends on the token. It supports 32 tokens at present, with the highest interest generally being paid to those who loan stablecoins, as they are often the most in-demand. What’s good about Nexo is the options users have - they can either earn interest paid out in the same token they deposited, earning ETH on the ETH they deposit, for example, or earning interest in the platform’s NEXO token, which provides an additional 2% as an incentive. Another factor that affects the APY Nexo users can earn is their loyalty level. This is determined based on the percentage of NEXO tokens within a user’s portfolio, rather than the total amount they have deposited. So rich whales don’t get preferential treatment on Nexo. The higher the percentage of NEXO tokens someone has, the greater their loyalty level is, leading to higher interest payouts. Like everything else in crypto, there are risks associated with lending. In addition to borrowers defaulting, it’s also possible that the DeFI platform itself might have problems, as highlighted recently by Celsius when it announced it was temporarily pausing all “withdrawals, swaps and transfers between accounts” due to what it said was “extreme market conditions”. The announcement immediately sparked fears that Celsius likely doesn’t have the assets to back up its deposits in the event of a rush by investors to withdraw their funds. Copy Trading Copy trading is designed for people who’d still like to trade without putting any effort in whatsoever. It’s a perfect lazy way to earn a passive income that involves just replicating the trades of more experienced investors in order to enjoy the same high returns as they do on a daily, weekly and monthly basis. What’s great about copy trading is it doesn’t require big funds either, with many platforms starting at as low as $1 per trade, making it a very accessible way to grow your portfolio. One of the most popular such platforms is BingX, which allows users to follow multiple professional traders simultaneously. For copy traders, the only work they need to do is identify which traders to follow. Luckly, BingX provides lots of useful data on the best trader’s trading history, their risk-reward ratio, return-on-investment indicators and other parameters. More recently, BingX has launched a unique take on copy trading, called “Grid Trading” in order to give its users more flexibility. Grid trading is a strategy that, in simple terms, involves hedging, or placing simultaneous buy and sell orders at certain levels. The aim of this approach is to maximize the profits while the in-built hedging system ensures that the risks are minimized. What BingX has done is apply the benefits of this strategy to copy trading to help ensure traders can consistently take profits from the volatility of crypto assets. With grid trading, users can set gradual buy and sell orders within a defined range of prices. So long as the price oscillates between these ranges, users can earn a reliable profit from the price swings. Become A Validator The final option for lazy crypto profiteering is to become a network validator, which is really just a more sophisticated way of staking. Becoming a validator means taking on the responsibility of serving as an independent node on a PoS blockchain. Unlike regular staking, it requires users to stake a pretty substantial, minimum number of coins, though the exact amount will depend on the blockchain. In the case of Ethereum, one of the best known and most popular blockchains for validators, that minimum is set at 32 ETH (around $36,000 at the time of writing). You’ll also need an additional 1 ETH to pay for the gas fees. Luckily, there are plenty of blockchains with a much lower minimum staking requirement, such as Cardano, Tezos and Cosmos, to name just three. A second requirement is that you’ll require a fair amount of storage space on whatever computer you use to do the validation - with Ethereum, that’s 250GB, plus an additional 8GB of RAM. And while you don’t need to be an expert, you also need to read up on the technical specifics of how to get the node software up and running. The rewards for validating will depend on the amount of tokens you’re staking on the network. So this becomes a key decision, because most networks require that these funds are locked up for a specific period of time. The more coins you stake, the higher the potential rewards, but bear in mind you won’t be able to withdraw them and sell them, no matter what happens to the price of those tokens. Staking rewards are calculated as a percentage of the staked funds, and vary depending on the price of that asset. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
53 days agocointelegraph
‘Smear campaign’: Nexo responds to accusations of stealing donations, siphoning funds from charity
A pseudonymous Twitter account making a series of accusations against Nexo has caused the crypto lender to issue a cease and desist notice.
53 days agocoindesk
Nexo Sends Cease and Desist Letter to Anonymous Twitter Account Accusing It of Embezzlement
Nexo has issued a public cease and desist order to a Twitter account run by someone with the handle 'Otter.'
57 days agocryptopotato
Nexo Taps Citibank for Assistance on Potential Acquisitions as Crypto Markets Struggle
Nexo has tapped Citibank for assistance on potential acquisitions as well as liquidity provision to faltered crypto platforms amid the market downturn.
57 days agocointelegraph
Nexo hires Citibank to advise on acquisitions during market turmoil
“We’re in this together” — Crypto lending platform Nexo has appointed Citibank to advise on acquisitions from struggling crypto firms.
58 days agocoindesk
Crypto Lender Nexo Hires Citigroup to Advise It on Acquisitions
Crypto lending platform Nexo is in talks with Citigroup as it plans to swoop in and acquire rival platforms.
65 days agocointelegraph
NEXO price drops 40% in three days on rumors of ties to 'insolvent' crypto fund
Nexo says it currently has no exposure to Three Arrows Capital and has 100% liquidity to meet its debt obligations.
67 days agocryptodaily
Lack Of Liquidity Forces Celsius To Block Crypto Withdrawals
Celsius’s decision to stop all crypto withdrawals has sent the already volatile market into a freefall, as BTC, ETH, and other leading cryptos crashed on Monday. Suspending Withdrawals To Maintain Liquidity On Monday, leading crypto lending company Celsius, with a $3.25 billion valuation, announced that due to “extreme market conditions,” it was immediately blocking all crypto activity between accounts. This means that over 1.7 million Celsius users will not be able to withdraw, swap, or transfer the crypto funds held in their accounts. The statement read, “We are taking this necessary action for the benefit of our entire community in order to stabilize liquidity and operations while we take steps to preserve and protect assets. Furthermore, customers will continue to accrue rewards during the pause in line with our commitment to our customers.” Were The Skeptics Right? This decision comes as a sudden blow to the community, as Celsius had just published a blog on June 7, talking about how its coffers were sufficiently equipped to handle the market volatility. An excerpt from this blog reads, “At this already challenging time, it’s unfortunate that vocal actors are spreading misinformation and confusion…Celsius has the reserves (and more than enough ETH) to meet obligations, as dictated by our comprehensive liquidity risk management framework.” Clearly, till just a few days ago, the Celsius team had held and maintained quite a dismissive stance towards its skeptics, who had previously warned the community about the platform, some even calling it a Ponzi scheme. Founder and CEO at BrightScope & Digital Assets Data, Mike Alfred, tweeted that, “The next Terra Luna blow-up is almost certainly Celsius. Celsius may be the most irresponsible company in crypto. Given how much money they lost in Luna, where else do you think they're hemorrhaging your capital? Mining? Do you really think they have all the Bitcoin they claim?” Grasping At Straws For Liquidity The company had already reworked its rewards program in April, preventing most U.S. users from earning rewards due to the pressure from regulators. However, several users are now criticizing it for mismanaging its funds following the collapse of the Anchor Protocol on the Terra blockchain. Reports are claiming that to address the rumored liquidity crisis, Celsius has unstaked $320 million worth of wBTC, ETH, and other crypto-assets and sent them to the FTX exchange. Even though the exact intentions are unclear, speculations are ripe that the Celsius team could sell the assets it sent to FTX. In fact, rival lending platform Nexo has already expressed interest in buying certain assets from Celsius. There is also the possibility that the team tries to stake the tokens sent to the exchange in order to earn yields. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
67 days agocryptosrus
Celsius Pauses Withdrawals — Here’s Everything You Need To Know
Celsius pauses withdrawals, swaps, and transfers. Find out what this means for you whether you are or not a customer of the crypto savings and lender.  *This is an ongoing story. Check back for updates. Covered: Celsius Announces Pause Is Celsius The Next Terra Luna? Nexo Makes Buyout Offer Celsius Announces Pause Late last night, […] The post Celsius Pauses Withdrawals — Here’s Everything You Need To Know appeared first on CryptosRus.
67 days agocryptodaily
Armageddon in crypto market as inflation fears worsen
The unexpected increase in the inflation figure has caused crypto the crypto market to go into free fall. Since the CPI data for May was released, bitcoin has lost the strong support at $29,000 and has fallen to $24,000, a 17% reduction. The rest of the crypto market has fared far worse. The consumer price index (CPI) came in at 8.6% on Friday, surprising many market analysts who believed that the April figure of 8.3% would hold, or would even be likely to reduce to 8.2%. This month’s inflation figure is the highest in four decades and it’s probably for this reason that crypto has been so hard hit. The Fed would have probably been hoping for inflation to start levelling off so it could begin to rein in the interest rate hikes. However, now that inflation has shown that it isn’t beaten, and that it is still not under control, it may be that the Federal Reserve has to raise 75 basis points each FOMC meeting rather than the 50 basis points that were envisaged. An article on Yahoo News paints a more positive picture. Here, Jonathan Silver, CEO of Affinity Solutions, a company that tracks consumer purchasing habits, suggests that the inflation trend is about to reverse. “There are certainly positive signs that would indicate the worst [on inflation] is behind us,” He adds: “The job market remains strong, which is putting money in people’s pockets. However, price increases are still outpacing people's paychecks. Hopefully, this trend will reverse itself as inflation reaches its peak and begins to dissipate. Our purchase spending data suggests that this is the direction we are headed,” The Fear and Greed Index looks to have hit a bottom perhaps. The current data is showing the most persistent fear figures since data began to be recorded in February 2018. The index has been recording levels of between 17 to as low as 8 since May 9. According to an article on Bloomberg, confidence is at an all-time low following the Terra Luna collapse, and the fact that Celsius paused withdrawals on its platform earlier today. In the article, Antoni Trenchev, co-founder of Nexo, summed up the situation in his view: “Cryptos remain at the mercy of the Fed and stuck in a merry dance with the Nasdaq and other risk assets,” He added: “We’re hearing Bitcoin forecasts in the mid-teen and single-digit thousands which tells you the type of macro environment crypto is facing for the first time -- and the levels of fear.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
67 days agocointelegraph
Nexo offers to buy out Celsius’ loans amid withdrawal suspension
Nexo platform could rescue Celsius' customers after “what appears to be the insolvency of the Celsius Network.”
67 days agocryptopotato
Nexo Wants to Buy Qualifying Assets of Celsius Network After Withdrawal Freeze
Nexo extends a letter of intent to buy part or all of Celsius Network's qualifying assets following the withdrawal freeze.
67 days agocoindesk
Nexo Proposes Celsius Buyout as Rival Halts Withdrawals
Crypto lending platform Nexo said it's preparing an offer to acquire Celsius after the targeted company froze withdrawals and transfers this morning.
73 days agonulltx
Top 5 Projects to Launch on Terra 2.0 (LUNA)
Many decentralized apps from the traditional chain would need to relaunch on the new one following the introduction of Terra’s new blockchain by the Terra Team.  The launch has already received widespread backing from centralized exchanges and service providers. Huobi, Binance, KuCoin, Bitrue, FTX, Bitfinex, GateIO, ByBit, Nexo, and more platforms are among them. Many […] The post Top 5 Projects to Launch on Terra 2.0 (LUNA) appeared first on NullTX.
81 day agocointelegraph
CeFi interest on the wane: Will BlockFi, Ledn and Nexo rates trend lower?
Cointelegraph spoke to CeFi leaders to understand where interest rates are going and what the future holds for CeFi.

About Nexo

The live price of Nexo (NEXO) today is 0.859545 USD, and with the current circulating supply of Nexo at 560,000,011 NEXO, its market capitalization stands at 481,345,245 USD. In the last 24 hours NEXO price has moved -0.005598 USD or -0.01% while 718,652 USD worth of NEXO has been traded on various exchanges. The current valuation of NEXO puts it at #88 in cryptocurrency rankings based on market capitalization.

Learn more about the Nexo blockchain network and how it works or follow the price of its native cryptocurrency NEXO and the broader market with our unique COIN360 cryptocurrency heatmap.

Nexo is a cryptocurrency-based platform for loans. The Nexo crypto platform provides an opportunity for both becoming a lender and a debtor on a crypto loan. The project was developed by a FinTech company called Credissimo. Nexo uses the custodian services of BitGo, a blockchain development company that has a Securities and Exchange Commission (SEC) approval. Nexo token is an ERC20-based digital asset that provides special privileges for its users when working with the Nexo platform. Still, other cryptocurrency assets can also be used and exchanged freely on the platform. Nexo token was also used for the Nexo ICO and airdrop campaigns. Nexo ICO raised more than 52 million USD for platform development, considered a positive evaluation of its potential. Check out the latest Nexo price, the NEXO price charts for various time periods and all relevant metrics on Coin360.com.
Nexo Price0.859545 USD
Market Rank#88
Market Cap481,345,245 USD
24h Volume654,740 USD
Circulating Supply560,000,011 NEXO
Max Supply1,000,000,000 NEXO
Yesterday's Market Cap517,458,200 USD
Yesterday's Open / Close0.929631 USD / 0.924033 USD
Yesterday's High / Low0.956017 USD / 0.924033 USD
Yesterday's Change
-0.01% ( 0.005598 USD )
Yesterday's Volume718,651.90 USD
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