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The co-founder and managing partner of crypto lender Nexo, Antony Trenchev, is saying that large institutions are now more likely to invest in Ethereum (ETH) after the crypto asset’s transition to a proof-of-stake consensus mechanism.
Trenchev says in a Bloomberg interview that Ethereum’s transition to a less energy-intensive transaction-verification mechanism makes it acceptable to institutional investors who are required to be aligned with the Environmental, Social and Governance (ESG) sustainable investing guidelines.

“With the merge and now the moving to the energy efficiency, we are now having this asset class be prime time-ready for large institutions that previously did not, via their mandates to invest in only ESG-compliant protocols and companies. You know now they have this entry point to crypto which is sizable.”
Nexo co-founder says that the reduction in Ethereum supply following the merge will play a bullish role over time.
“There is a case to be made that a large amount of the [Ethereum merge] hype is already priced in. So there might be a coming down a little bit. 
But I think ultimately once people see the benefits play out though, the fact that we are now moving from essentially an inflationary type of asset, the circulating supply got increased 4.5% every year. Now, this gets slashed in half making this close to a deflationary asset as possible. Unlike the Fed and what they have been doing. 
You know, I think this ultimately will play a very bullish role in the short, the mid and the long-term.”
According to Trenchev, Ethereum is unlikely to become bigger than Bitcoin (BTC) by market cap after the merge.
“[The merge] is the most significant thing to have happened to Ethereum. To your question about the flippening whether Ethereum will become bigger than Bitcoin, I do have my doubts…
Anyone who is writing off Bitcoin, I think that’s too soon.”

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Featured Image: Shutterstock/studiostoks
The post Ethereum (ETH) Is Now ‘Prime Time-Ready’ for Institutional Investors, According to Nexo Co-Founder – Here’s Why appeared first on The Daily Hodl.


The co-founder and managing partner of crypto lender Nexo, Antony Trenchev, is saying that large institutions are now more likely to invest in Ethereum (ETH) after the crypto asset’s transition to a proof-of-stake consensus mechanism. Trenchev says in a Bloomberg interview that Ethereum’s transit...

dailyhodl.com

Ethereum (ETH) Is Now ‘Prime Time-Ready’ for Institutional Investors, According to Nexo Co-Founder – Here’s Why

According to Antoni Trenchev – Co-Founder of the cryptocurrency lending platform Nexo – Ethereum’s Merge is “the most significant thing” that has happened in the protocol’s history. However, he does not believe it will help Ether surpass Bitcoin as the most dominant digital asset.
The executive also expects ETH’s price to surge when people realize the benefits of the transition to Proof-of-Stake (PoS), but not immediately after it occurs.
Bitcoin Will Stay at the Top
Ethereum’s shift from PoW to PoS, which happened earlier today (September 15), has caused numerous debates over the past several months. Experts weighed in on how it will benefit the blockchain project and the whole industry, but some warned that it could become a “buy the rumor, sell the news” event.
In a recent interview for Bloomberg, Nexo’s Co-Founder and Managing Partner – Antoni Trenchev – outlined the greener focus that Ethereum will have from now on, and that Ether will move from “essentially an inflationary type of asset” to a deflationary one.
Nonetheless, he thinks that even after “The Merge,” Ether does not have a chance to steal Bitcoin’s supremacy and become the largest cryptocurrency:
“Anyone who is writing off Bitcoin, I think that’s too soon.”
Trenchev said he is “incredibly bullish” on those assets and holds them both in his portfolio for the long run. He admitted increasing his ETH exposure a few months ago, anticipating that the coin’s price will surge after the shift to PoS.
Unlike some individuals who expect Ether’s valuation to skyrocket right after the event, Nexo’s executive believes it will take some time. People should first realize the use-cases of that development, and then a price surge could follow:
“I bought in around $1,300, rolled it all the way up to $2,000, now it’s around $1,600. There is a case to be made that a large amount of the hype is already priced in, so there might be a coming down a little bit, but I think ultimately, once people see the benefits, this will play a very bullish role in the mid and long term.”
Antoni Trenchev, Source: Bloomberg
Mark Cuban’s Thoughts
A month ago, the American billionaire Mark Cuban gave his two cents on “The Merge,” too, arguing it could turn out to be a double-edged sword.
He warned that the huge enthusiasm surrounding the event could surpass its actual use-cases, and thus, Ether’s price might stall and even fall after the transition.
As of the moment, his prediction seems quite accurate since ETH trades at nearly the same level it used to prior to the shift to PoS.
The post Ethereum Will Not Flip Bitcoin After the Merge: Nexo Co-Founder appeared first on CryptoPotato.

Antoni Trenchev argued that bitcoin will remain the supreme cryptocurrency even after Ethereum's Merge.

cryptopotato.com

Ethereum Will Not Flip Bitcoin After the Merge: Nexo Co-Founder

The crypto bear market had largely been brought about by the crash of various lending platforms. Crypto lending firms such as Voyager Digital and Celsius had quickly gone into bankruptcy after being unable to keep up with the market decline. Others, such as Nexo, had felt the heat from these crashes as a result of the bank runs that ensued. But it seems like the worst of the storm has passed as users begin to trust lending platforms once more.
Nexo Begins To See Inflows
After the various crashes that rocked the crypto lending space, Nexo had taken a big hit in terms of deposits and withdrawals. While deposits had slowed, withdrawals had increased to a point that rumors began circulating on social media that the crypto lender would be the next to go bankrupt.

Nevertheless, Nexo had been able to weather the storm better than the market had anticipated. It had seen slow movement for a while after, but as the market sentiment had begun to recover, Nexo saw more inflows from users.

Nexo customer liabilities grows | Source: Arcane Research
On August 29th, the customer liabilities for Nexo were reported to be 199,170 BTC. This is a long way from its May high of 261,111 BTC, just before the market crash, but it shows significant growth from its July 21st low of 169,672 BTC.
Withdrawal pressure on the platform has also eased greatly, as is shown by the customer liabilities attestations. Additionally, it has shown a consistent uptrend in the month of August. A good sign for lending platforms in the space.
Where Is Crypto Lending Headed?
Crypto lending platforms have suffered the most in the current market trend, but they continue to receive support as they pass through one of the toughest times. An example is Holdnautm which received creditor protection from a Singapore court about a month after another troubled exchange, Zipmex, was granted the same creditor protection.

Others, such as Celsius and Voyager Digital, continue to battle out their bankruptcy proceedings in the courts of New York. Both lending platforms have been able to provide updates to users, although not to a significant degree.

Nexo price at $1.04 | Source: NEXOUSD on TradingView.com
More encouraging is the fact that news of crypto firms going bankrupt has slowed to a crawl. So despite Nexo being the only platform that has reported positive change, there may be others who are seeing a positive trend, especially given the recent turn in investor sentiment.
Featured image from Business 2 Community, charts from Arcane Research and TradingView.com
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The crypto bear market had largely been brought about by the crash of various lending platforms. Crypto lending firms such as Voyager Digital and Celsius had quickly gone into bankruptcy after being unable to keep up with the market decline. Others, such as Nexo, had felt the heat from these cras...

bitcoinist.com

Nexo’s Recovery Shows Crypto Credit Storm May Have Settled

Cryptocurrency exchange Nexo announced this Aug. 30 the allocation of another $50 million to execute discretionary and periodic buybacks of its NEXO token on the open market.
According to the company’s statement, this would be the second time the exchange has invested money in repurchasing its tokens this year. The first time was in May when they announced the repurchase of $100 million in NEXO tokens.
Nexo Wants to Demonstrate its Liquidity
Antoni Trenchev, co-founder and managing partner of Nexo, said the allocation of this $50 million demonstrates the “solid liquidity position” the company maintains in times when many cryptocurrency exchanges have had to shut down operations.
“The allocation of an additional $50 million to our buyback plan is a result of our solid liquidity position and Nexo’s ability and readiness to spur on its own products, token, and community, alongside its outward-facing initiatives of injecting liquidity into the industry,”
Trenchev added that despite “challenging market conditions,” the company and the NEXO token have consistently moved in tandem with BTC and ETH, evidencing stability and demand for the asset. Right now, Nexo has a total market capitalization of more than $581 million, according to CoinMarketCap data.
Price of the NEXO token in 2022. Image: Tradingview
The $50 million buyback represents almost 10% of the token’s total capitalization. However, according to NEXO, the buybacks will be conducted over a six-month period “depending on market conditions” to not influence the token’s price.
Repurchased Tokens Will Be Blocked For 12 Months
The exchange noted that repurchased tokens will be locked and placed in the NEXO’s Investor Protection Reserve (IPR) for 12 months, subject to a vesting period. Once this period has expired, the company will be able to use the tokens to pay daily interest or make strategic investments through “token mergers.”
“Once the lock-up term has expired, repurchased tokens might be dedicated to daily interest payouts in NEXO Tokens and strategic investments via token mergers with applicable vesting schemes to ensure token holder interests.”
This means that the exchange is not interested in burning its NEXO tokens to reduce its total market supply, like Binance has been doing, “burning” huge amounts of its native Binance Coin (BNB) cryptocurrency to increase the token’s value by decreasing its supply.
Nexo has proven its ability to gain a spot among the crypto industry’s big boys. While several exchanges are facing bankruptcy and letting their staff go, Nexo announced a 200% increase in staff over the past 12 months while continuing to make multi-million dollar investments to keep expanding its influence.
The post Nexo Allocates Another $50 Million To Its Token Buyback Initiative appeared first on CryptoPotato.

The cryptocurrency exchange Nexo likes its token so much that it is buying $50 Million worth of it or almost 10% of its total marketcap.

Nexo Allocates Another $50 Million To Its Token Buyback Initiative

The Bitcoin lender has sought advice from Citigroup on how to acquire distressed crypto firms amid the bear market.   

NEXO price	$0.926999
Low - High 24H	$0.911849 - $0.950513
Market cap	$519.09M
Volume 24H	$4.43M
All time high	$4.07 -77.26% May 12th 2021
All time low	$0.045153 1948.84% September 13th 2018
Genesis date	N/A

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