In this guide, we will voice our own and market’s opinion on NEXO future while discussing Nexo price forecast for 2024 and beyond.
Please bear in mind that you should take this and any other prediction with a grain of salt since predicting anything is a thankless task, let alone predicting the future of a novel, highly volatile financial asset like Nexo.
Now, let’s head into it. Before we delve deep into the Nexo price prediction and answer questions if NEXO is a good investment or not, why will NEXO succeed or fail or why will Nexo price rise or drop, let’s quickly throw a glance at what is NEXO and its to date history.
What you'll learn 👉
What is Nexo?
Nexo is a unique lending platform that allows you to earn interest on your cryptocurrency investments. Interest rates vary by distribution method and coin, but you can expect to earn between 6% and 12% APR. Nexo is based in Switzerland, which makes it less vulnerable to increasing U.S. regulation of crypto lending platforms.
Nexo also allows you to take out loans based on the amount of cryptocurrency in your account without selling your coins and buying them back. Interest rates for loans begin at 5.90% APR. Though you cannot currently buy or sell cryptocurrencies through the Nexo platform, the crypto savings account provider offers a high-yield method for investors to earn money on idle coins and fiat.
What Does the NEXO Token Do?
NEXO was created during the ICO, and distributed to the team and early adopters. The firm shares up to 30% of its profits with NEXO holders.
The NEXO token underpins the loan and deposit ecosystem; holding the token entitles buyers to a 30% share of company profits, like a dividend. Nexo claims it has paid over $9 million to tokenholders since 2018.
The token also has a few benefits for cryptocurrency interest account customers. If holding NEXO, users can:
- Earn an additional 2% APY on their deposits, bringing stablecoins up to 12% and other cryptocurrencies to 8%.
- Borrow 5.9% for Nexo’s Instant Crypto Credit Lines.
Other cryptocurrency interest account platforms have similar tokens: Celsius has CEL, Crypto.com has CRO. They seem to be a means to anchor and incentivize early adopters to use the platform and hold the token.
NEXO Price Prediction For The Next 90 Days
As the first few months of 2024 concluded, we can say that this year has started on a high note for the cryptocurrency industry, marked by significant milestones and growing enthusiasm. Following the landmark approvals of Bitcoin ETFs, there has been a noticeable surge in interest from both retail and institutional investors, signaling a robust period of growth and acceptance for digital assets. These developments have not only bolstered investor confidence but have also hinted at a maturing market that is increasingly aligning with traditional financial systems. With the regulatory landscape beginning to stabilize and provide clearer guidelines, the cryptocurrency market is poised for a transformative year, potentially setting new benchmarks for adoption, innovation, and investment. Bitcoin ETF approvals were done in early January, setting a positive tone for the market. Analysts had predicted the SEC would decide on Bitcoin ETF applications potentially catalyzing industry growth. The approvals have been seen as a significant step towards mainstream acceptance and have sparked optimism among investors and traders alike. Now, attention is turning towards post-halving rallies, with the BTC halving now behind us. Bitcoin has almost tripled in price since last summer, with the recent Wall Street earthquake and the upcoming halving expected to further boost Bitcoin, Ethereum, and the broader crypto market. Bitcoin is trading around $60k now, after it hit a new ATH of $73k in March. Ethereum has also grown following ETF approvals, with many anticipating ETH ETF approvals could be next. Ethereum is trading around $3,000 and still has not broken its ATH from the 2021 bull run. Investors are hopeful this will happen soon. The majority of investors, traders, and crypto influencers are hopeful that the real crypto bull run will finally commence, bolstered by the recent ETF approvals and anticipation of the upcoming Bitcoin halving event. Bitcoin ETFs, a growing meme coin, AI crypto coins, and RWA mania have helped the bull run to gain momentum. The total market cap (TMC) is now $2.2 trillion.
Below is a tabular overview of how will NEXO develop in the short-term (for the next 90 days), according to our prediction model:
Nexo Price Prediction 2024
Our prediction model sees a temporary switch to a bear market at the beginning of 2023 before we move onto another leg up in Q3 & Q4 of 2023.
NEXO Price Prediction 2025 – 2030 – 2040
Our prediction model sees NEXO reaching new highs in 2025:
$1.93NEXO price in 2030 & 2040 should be a couple of orders of magnitude higher than our 2025 prediction.
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