This year has been a tough sail for NEXO since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of NEXO.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for NEXO to reclaim its all-time high in 2023? Continue with the article to learn about NEXO price analysis and prediction by Coinpaper.
Read also: Nexo under the community’s microscope for allegedly unsustainable yields
What is NEXO?
Nexo is a crypto lending platform that currently manages assets for 5М+ users across 200 jurisdictions. Nexo's customers can lend their digital assets — such as BTC, GMX, AXS, USDT, USDC, and more — for up to 15% yield. The actual yield may vary depending on loyalty tiers, which, in turn, are determined by the portfolio’s allocation to NEXO token. NEXO holders can also earn interest on their tokens, get free crypto withdrawals, and receive instant cashback on their Nexo Exchange transactions.
NEXO (NEXO) price
Currently, NEXO Price is USD. NEXO has a circulating supply of coins and a total supply of . If you are looking to buy or sell NEXO, P2B is currently the most active exchange.
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NEXO price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish NEXO 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see NEXO price at $0.98 to $1.15. On the flip side, a fading interest in the new meme coin may push the price of NEXO to $0.62-$0.54 lows.
NEXO price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to NEXO (NEXO) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of NEXO to climb as high as $1.26, with the more distant prospect of reaching $1.71 in 2024. The bearish scenario is likely to see NEXO (NEXO) trading between $1.13 and $1.02 in 2024.
NEXO price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our NEXO (NEXO) price analysis and prediction is based on pure speculation and observation of NEXO historical price movements.
Our NEXO 2025 price forecast expects NEXO to rally towards $2.06 and reach $2.78 by the end of the year. The bearish scenario would see NEXO at $1.67 to $1.48.
NEXO (NEXO) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for NEXO is neutral. In 2026, we expect NEXO to reach at least $3.14 before climbing higher to $3.78. In case of a bearish scenario, NEXO may fall to $2.57.
Is NEXO (NEXO) a good investment?
Whether NEXO is a good investment for you depends on your risk profile and overall portfolio allocations. For quite a long time, NEXO provided lucrative returns for its investors, and many experts believe that token has an outstanding potential to reach new heights. However, proper due diligence is always advisable, as recently Nexo found itself under community’s criticism over its inflated yields that some believe to be unsustainable.
Bottom line
Are you ready to invest in NEXO? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy NEXO from many crypto exchanges, including P2B
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
FAQs
Who created NEXO?
Nexo was founded by Antoni Trenchev, Kosta Kantchev and Kalin Metodiev in 2018.
What was the all-time high for NEXO (NEXO) ?
The all-time high price of NEXO is $ on 2021-05-12
