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Nexo (NEXO) came up with the idea of the world's first instant crypto-backed loans, resolving an important inefficiency in the crypto world. Nexo's innovative model brings a valuable addition to the crypto community, i.e., retaining 100% ownership of their digital assets while having immediate access to cash.
Nexo is one of the world's biggest lending institutions in the digital finance industry. Since 2018, with the power of blockchain technology, Nexo has tried to help people make the best out of their crypto assets, shaping a new, better financial system. Nexo committed itself to solve inefficiencies in the lending markets by creating innovative and sustainable solutions. By using blockchain technology, Nexo aims to develop a new digital financial system. Nexo's values are mainly rooted in efficiency, transparency, and inclusivity. They try to reflect these values in their fully automated products, transparent processes, and their efforts to develop a global service that makes wealth creation opportunities available to everyone.
How Does Nexo Work?
There are four steps that a client needs to take to use Nexo.
Finally, If the crypto assets in the wallet meet the required limits of the outstanding loan balance, clients can withdraw part or all exceeding amounts at any given time. Once the loan is fully repaid, clients can withdraw all of the crypto assets in the wallet.
Nexo provided its investors with a 959% Return On Investment (ROI) over the last year. Although the number seems interesting to any investor, it is lower than its similar project's ROI (1,152%). Moreover, Nexo underperformed in terms of ROI compared to the market's average ROI, which grew 3,143% over the last year. You can have access to our full report and follow Nexo's ROI on our website.
With approximately $774 million, Nexo is ranked 110 among all crypto projects in the market in terms of market capitalization. From May 3, 2021, its rank followed a decreasing trend, starting from the rank of 67. There was a sharp drop in Nexo's price between May 15 and May 24, 2021, from $3,93 to $1.52. After that time, the price stayed relatively constant, leading to $1.39 on September 29. Moreover, Nexo's liquidity score is 37% less than the market's average score. This means that you would probably face some difficulties selling Nexo if the market is falling.
Gaining public attention could potentially play a critical role in the success of any project. Our data show that Nexo's Twitter account saw an increase of 21% in followers over the last five months. Also, its Reddit account subscribers and Telegram channel users rose during the same period, with 39% and 13%, respectively. You can find our full report here.
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