NEXO

Get NEXO (NEXO) all time high price, historical charts, latest news and other information.

The closely followed analyst and host of Coin Bureau is issuing warnings on a slew of altcoins that put in good performances last week, but face headwinds as crypto markets correct.
In a new update, the pseudonymous analyst known as Guy tells his 2.03 million subscribers that smart contract platform TRON‘s (TRX) rallies after news of its new decentralized stablecoin don’t appear to have much momentum behind them.

“There’s TRON whose TRXcoin is rallying on the upcoming release of the USDD stablecoin which will have a similar mint and burn mechanism to Terra’s UST. TRX is also in a long-term uptrend and though this trend looks stronger than most other cryptocurrencies at first glance, TRX hasn’t moved all that much in percentage terms over the last couple of years. So keep that in mind before you get too excited.”
Guy also has his eye on STEPN, the fast-rising walk-to-earn project whose GMT token has enjoyed parabolic moves in recent weeks. The analyst says that GMT has a shot at continuing its rally, but faces the heavy downward weight of the broader crypto market dip.
“As for STEPN, the GMT token is continuing its upwards trajectory, thanks to listings on Coinbase and Gemini, which has made it accessible to more investors. The exponential adoption of the STEPN app is certainly contributing too. GMT seems to be building a solid zone of support around current levels which will help when it tries to break new all-time highs. Just bear in mind, that if we break down below this zone, GMT could crash by more than 30%. Some would argue that it’s only a matter of time the way the market is looking. 

The analyst also puts the spotlight on crypto lending platform Nexo, whose native NEXO token is up after a surprise Binance listing. While he’s ultimately bullish on the project, Guy warns that impending regulations on companies like Nexo may put a limit on how much further it can go.
“When it comes to Nexo, the NEXO token is reaching for the sky on the back of a Binance listing last week, as well as the recent release of Nexo’s crypto card, which I definitely need to get my hands on… What’s nice is that Nexo is in a very strong long-term uptrend but I wonder how much more it can grow given the crackdowns we’re starting to see on apps that let you earn interest on your idle crypto.”
Finally, Guy puts traders on notice about XinFin XDC, which aims to be an enterprise-ready blockchain protocol specializing in tokenization for real-world decentralized finance. The analyst warns that limited access to XDC through exchanges, plus an overall downward crypto market could spell trouble for the altcoin.
“The XDC coin is apparently pumping on the news that Panama will be promoting its adoption as part of the aforementioned crypto bill, in addition to a whole bunch of other altcoins including ETH, XRP and ALGO. While the XDC coin is still in something of a long-term uptrend, I would exercise caution here as exchange support is currently limited – never mind the fact that it probably won’t be able to pump against the dump for long.” 

I
Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox 

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines



 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Rattanamanee Patpong
The post Coin Bureau Issues Warning on TRON (TRX), STEPN (GMT), Nexo and Another Altcoin As Crypto Markets Teeter appeared first on The Daily Hodl.


The closely followed analyst and host of Coin Bureau is issuing warnings on a slew of altcoins that put in good performances last week, but face headwinds as crypto markets correct. In a new update, the pseudonymous analyst known as Guy tells his 2.03 million subscribers that smart contract platf...

dailyhodl.com

Coin Bureau Issues Warning on TRON (TRX), STEPN (GMT), Nexo and Another Altcoin As Crypto Markets Teeter

Bitcoin tried its hand at $40,000 yesterday but was quickly stopped in its tracks and now sits below it. ApeCoin went on to register yet another all-time high amid the growing anticipation for Otherside, while Nexo soared by double digits following a listing on the world’s largest crypto exchange.
Bitcoin Stopped at $40K
The enhanced volatility in the crypto market continued in the past 24 hours. CryptoPotato reported yesterday the recent high fluctuations that started on April 25 when bitcoin challenged $41,000 but was violently rejected.
As a result, the asset fell by over $3,000 in hours and plummeted below $38,000 for the first time since March 15. It reacted somewhat positively to this price decline and bounced off to just under $40,000.
It went even further during yesterday’s trading day and spiked above that coveted level. However, that was a short-lived adventure as it fell below it almost immediately. As of now, BTC stands at $39,500, and its market cap is still around $750 billion.
BTCUSD. Source: TradingView
ApeCoin New ATH, Nexo Double-Digit Surge
The altcoins faced similar price movements in the past few days, with many of them being in the red on a weekly scale.
Ethereum traded above $3,000 last week but dipped below $2,800 a few days ago. It also reacted well to this price drop and now stands above $2,900.
Binance Coin went beneath $400 and stood there yesterday as well. However, a minor daily increase has pushed BNB to north of that line as of writing these lines.
Solana, Ripple, Terra, Cardano, Polkadot, Dogecoin, Avalanche, Shiba Inu, and CRO are slightly in the red. Near Protocol has lost the most from the larger-cap alts (-5%).
ApeCoin continues to register new heights and has tapped a new ATH at above $22. Nexo is another impressive performer following a listing on Binance. As a result, the asset jumped by about 15%.
The crypto market cap has remained relatively still and is slightly above $1.8 trillion.
Cryptocurrency Market Overview. Source: Quantify Crypto


Nexo has soared the most from the top 100 coins after Binance announce adding support, Bitcoin failed at $40K.

cryptopotato.com

Bitcoin Rejected at $40K, Nexo Soars 15% on Binance Listing (Market Watch)

The digital asset platform, which offers crypto-backed loans – Nexo – partnered with Mastercard and DiPocket to launch the first cryptocurrency card in Europe that enables customers to spend without selling their holdings. By collaborating with the payment providers, Nexo granted its users access to over 92 million merchant sites worldwide.
Enter Nexo Card
According to a document seen by CryptoPotato, the new feature (dubbed Nexo Card) is linked to a Nexo-provided, crypto-backed credit line that stays at 0% APR. It allows clients to employ their holdings as collateral instead of selling them.
“The credit line is dynamic and can use multiple assets as collateral, including but not limited to Bitcoin, Ethereum, and Tether,” the document reads.
Nexo Card requires no minimum repayments. There are also no foreign transaction (FX) fees for up to $20,000 per month.
The card provides instant crypto cashback, paid out in Bitcoin or Nexo’s native token. As such, customers can earn up to 2% back in free digital assets with each purchase.
Nexo Card is available both in virtual and physical form as it comes with direct Apple Pay and Google Pay integrations. Ordering additional virtual cards is for free.
Antoni Trenchev – Co-Founder and Managing Partner at Nexo – summarized the advantages of the new product:
“Launching the Nexo Card in Europe in partnership with Mastercard and DiPocket is a big milestone for us and the latest proof of the immense synergy between the existing financial network and digital assets.
This unique product will allow millions of people, first in Europe and then worldwide, to spend instantly without having to give up the potential of their cryptocurrencies, thus offering unprecedented everyday utility for the emerging asset class.”
Commenting on the collaboration was also Mastercard’s Head of Crypto and Blockchain Products – Raj Dhamodharan. He said his company believes digital assets are “revolutionizing the financial landscape.” Partnering with Nexo could deliver people “one-of-a-kind choices” in how they interact with their crypto possessions, he concluded.
Nexo’s Endeavors in 2022
In January, Nexo shook hands with Bakkt Holdings. As part of the agreement, the latter vowed to custody a portion of Nexo’s Bitcoin and Ethereum stash in its Warehouse.
In March, the company launched a new fund aimed at investing $150 million in Web3-related enterprises and other crypto-focused projects.
Shortly after, Nexo integrated ApeCoin (the native token of the BAYC ecosystem) into its platform. Trading APE is available against BTC, USDT, USDC, USDx, EURx, and GBPx.
Last week, the crypto lender unveiled a digital asset brokerage unit called Nexo Prime. The feature focuses on the needs of institutional clients and provides all the tools necessary to trade, borrow, lend, and securely store their cryptocurrencies in a single product.


Nexo joined forces with Mastercard and DiPocket to launch the first crypto card in Europe that allows customers to use their assets as collateral instead of selling them.

Nexo Teams up With Mastercard to Introduce Crypto Card

Celsius has been positioned as one of the leading yield-generating CeFi platforms on the market, battling neck-and-neck with other dedicated CeFi platforms such as BlockFi and Nexo. Their positioning is seemingly weakened this week, certainly with retail investors, as the platform sent out an announcement to all users and released a public announcement that new funds supplied – even from existing accounts – into Celsius’ platform would no longer be eligible to earn yield unless they are accredited investors.
Let’s look at what we know from today’s release, and the events that have led up to today’s announcement.
Celsius & Regulatory Challenges In The States
Celsius released an announcement on their company Twitter channel, and founder and CEO Alex Mashinsky offered up a similar thread of information on Twitter. However, neither channel offers much transparency behind the reasoning around the move, which has largely been credited by speculators to be the result of increased SEC scrutiny.

1/ @CelsiusNetwork is launching a Custody solution for our US users and introducing some changes to our services. Read on to learn about what’s changing and why…
— Alex Mashinsky (@Mashinsky) April 12, 2022

In the company’s official blog post on the matter, there was also little clarity on the why behind these changes. What we do know is that these changes were unlikely to be made at the behest of Celsius on their own, as the end result is more barriers to entry for retail consumers. It’s unclear the specific needs to be an accreditted investor on the Celsius platform. The company utilizes VerifyInvestor.com, which typically charges $70 per individual for a verification application. While Celsius is apparently eating the cost of verification, will small crypto users be verified? Large questions loom, and it’s likely that many will elect not to even attempt verification. The platform will roll-out it’s ‘Custody’ feature as it’s replacement for swapping, borrowing, and transferring tokens. However, the ‘Earn’ feature was undoubtedly a major drive for Celsius’ existing business.

Celsius offers a native platform token to earn boosted rewards, but to date has been unable to offer the token to U.S. users. These restrictions are seemingly progressing this week for United States-based customers. | Source: CEL-USD on TradingView.com
Related Reading | Bitcoin Data: Number Of Active Entities Remain In Bear Market Channel
A Buildup Of SEC Criticism? 
Last year, we covered numerous stories of regulatory pressure applied to Celsius, BlockFi and the like. The pressure has largely come on a state-by-state basis, and certainly hasn’t been limited to Celsius. However, it seems that state pressures are still a major factor, as Celsius has specified in today’s report that there would still be limitations on availability surrounding it’s new ‘Custody’ product. Impacts of today’s report are limited solely to U.S.-based users.
Where we go from here remains to be seen.
Related Reading | How Shiba Inu Soared 20% On Robinhood Listing, Watch Out For Volatility


Featured image from Pexels, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.





Celsius has been positioned as one of the leading yield-generating CeFi platforms on the market, battling neck-and-neck with other dedicated CeFi platforms such as BlockFi and Nexo. Their positioning is seemingly weakened this week, certainly with retail investors, as the platform sent out an ann...

NEXO price	$1.32
Low - High 24H	$1.30 - $1.34
Market cap	$741.35M
Volume 24H	$2.53M
All time high	$4.07 -67.45% May 12th 2021
All time low	$0.045153 2832.62% September 13th 2018
Genesis date	N/A

Recently viewed

Trending

NEXO (NEXO)

Performance

NEXO News

Quick stats