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
The cryptocurrency industry has faced increased regulation in 2023, with the SEC and Department of Justice pursuing legal action against major players. This crackdown signals the end of cryptocurrency unbridled early years, as traditional financial institutions enter the market and call for clearer rules. In 2024, significant regulatory clarity is expected. Several factors have fueled this crypto rebound last year. Most notably, Ripple Labs won a key legal victory against the SEC in June, leading to a short-lived price bounce. Renewed institutional interest has also provided a boost, with major firms like BlackRock pushing for Bitcoin ETF approval in late 2023. Bitcoin ETF approvals were done in early January 2024, setting a positive tone for the market. Analysts had predicted the SEC would decide on Bitcoin ETF applications between January 5th and 10th, 2024, 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 both pre and post-halving rallies, with the BTC halving scheduled for April 2024, which is expected to further boost Bitcoin, Ethereum, and the broader crypto market. Looking ahead, proposed 2024 changes like new accounting rules for crypto assets and less hawkish central bank policies could impact markets. Updated accounting standards may allow more corporate Bitcoin reserves. Meanwhile, forthcoming Treasury Department cryptocurrency tax guidelines, applying by 2025, could transform regulations around decentralized finance, NFTs, and digital wallets. ETF approvals have proven complex but present future investor opportunities if SEC concerns can be addressed. Bitcoin has more than doubled in 2023, with the recent Wall Street earthquake and upcoming halving expected to further boost Bitcoin, Ethereum, and the broader crypto market. By passing $50,000 for the first time since 2021, Bitcoin has climbed over 200% year-to-date. Ethereum has also grown following ETF approvals since now many anticipate ETH ETF approvals could be next. The majority of investors, traders, and crypto influencers are hopeful that the real crypto bull run will finally commence in late 2024, bolstered by the recent ETF approvals and anticipation of the upcoming Bitcoin halving event.
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:$2.10
NEXO price in 2030 & 2040 should be a couple of orders of magnitude higher than our 2025 prediction.
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