NEXO Price Analysis August 2022

NEXO is a token of the platform Nexo. Its current price is around $0.7719 by the time of writing, with a low of $0.5513, and its market cap is 432 million dollars.

What is Nexo?

Nexo is a platform for instant crypto loans that provides expedited cash access and helps keep your digital assets. The NEXO token can be used to acquire discounts and other perks on the Nexo platform.

The Nexo loan is available in either fiat currencies or stablecoins and is backed by BTC or other accepted assets. Once you provide your cryptocurrency to collateralize the loan, you’ll be able to access the line of credit immediately.

What is NEXO?

NEXO is the coin of the Nexo platform, which is around $0.7719 by the time of writing, with a low of $0.5513. It reached a high of $4.63, and its current ranking is #97 according to CoinMarketCap, with a market cap of 432 million dollars.

Nexo lets its users borrow money against the value of their crypto holdings. Nexo is an instant crypto-backed loan service. Platform users have deposited coins and tokens as collateral, receiving them while still holding the asset.

NEXO Coin Market Analysis 

NEXO has a total supply of 1,000,000,000 coins worth around $0.7719 with a market volume of 12 million dollars, whereas the market capitalization is 432 million dollars at writing. 

NEXO Price Prediction

Nexo is trading at a great price right now, according to our forecasting tool – you should invest in it soon. But always do your research before making any decisions. On the 1D timeframe, the price action of the $NEXO/USDT price consolidates inside the rising wedge. We have to wait for a successful breakout or breakdown.

On-demand analysis on $NEXO or any other coin can join our Telegram channel anytime.

Nexo Price Chart August 2022
NEXO Price Chart August 2022

Closing Thoughts

Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

Pratyaksh
Pratyaksh

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