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Nexo

NEXO

Nexo

NEXO

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₹134.93

LIVE

24H Low ₹133.11

24H High ₹136.84

Price of NEXO today

The current live price of NEXO today is ₹134.93, with a 24-hour trading volume of ₹83,53,79,910.62. Our NEXO to INR price is updated in real-time. NEXO has seen a decrease of -0.80% in the last 24 hours. With a live market cap of ₹86,95,45,74,319.43 , the circulating supply is at 646,145,840 NEXO coins, with a maximum supply of 1,000,000,000NEXO coins.

Nexo Price History

Date ComparisonAmount Change% Change
Today-₹1.00

0.73%

7 Days₹2.27

1.71%

30 Days₹28.24

26.45%

1 Year₹58.93

77.45%

Nexo Price Information

Price Change (1hr)

1.21%

Price Change (24hr)

0.73%

Price Change (7d)

1.71%

Nexo Market Stats

Market Cap

₹86,95,45,74,319.43

Fully Diluted Market Cap

₹1,34,57,42,23,022.67

24hr Volume

₹83,53,79,910.62

18.49%

Circulating Supply

646145839.57 NEXO

Total Supply

1000000000 NEXO

Things to know about Nexo

What is the token?

Nexo (NEXO) is a leading digital assets institution that offers a comprehensive suite of financial products and services for digital assets. These include advanced trading solutions for both retail and institutional clients, liquidity aggregation from leading venues, and tax-efficient asset-backed credit lines. Nexo has also launched its investment arm, Nexo Ventures, which supports over 60 portfolio companies. The NEXO Token, an ERC-20 Ethereum-based token, is integral to the platform, offering holders benefits such as preferential borrowing rates, cashback, free withdrawals, and better yield rates as part of Nexo’s Loyalty Program.

Tokenomics

  • Total Supply:

  • The total supply of NEXO tokens is capped at 1 billion.

  • Initial Allocation:

  • The initial allocation included 52.5% for investors, 25% for overdraft funding, 11.25% for the founders and team, 6% for community building and airdrops, and 5.25% for advisors, legal costs, and marketing.

  • Purpose:

  • The NEXO token is designed to incentivize platform loyalty and participation. Holding NEXO tokens grants users access to higher yields, lower borrowing rates, and other benefits within the Nexo ecosystem.

Market Data

As of today #{today’s date}, the price of Nexo is ₹134.93 INR or 1.486 USD, with a 24-hour trading volume of 9200219.28 USD. The market capitalization for Nexo is 957649496.91USD. The circulating supply is 646145839.57 Nexo, with the total supply also being 1000000000 Nexo.

Token Pros and Cons

Pros

  • Utility and Rewards:

  • NEXO token holders enjoy various benefits, including higher interest rates on savings, lower interest rates on loans, and cashback rewards.

  • Regulatory Compliance:

  • Nexo emphasizes regulatory compliance, which may reduce the risk of adverse regulatory actions.

  • Dividend Payments:

  • Initially, NEXO token holders received dividends from Nexo’s profits, showcasing the platform’s commitment to sharing success with its community.

  • Buyback Program:

  • Nexo has initiated token buyback programs to reduce supply and potentially increase the token’s value.

  • Loyalty Program:

  • The tiered loyalty program offers escalating benefits based on the amount of NEXO, encouraging long-term holding.

Cons

  • Regulatory Risks:

  • Despite efforts at compliance, the crypto industry faces uncertain regulatory environments, which could impact Nexo.

  • Market Volatility:

  • Like all cryptocurrencies, NEXO tokens are subject to market volatility, leading to significant price fluctuations.

  • Competition:

  • Nexo operates in a competitive space with other crypto lending platforms, which could affect its market share and token value.

  • Dependence on Platform Success:

  • The value and utility of NEXO tokens are closely tied to the success and adoption of the Nexo platform.

  • Legal Disputes:

  • Nexo has faced legal disputes, including with a co-founder over missing assets, which could impact its reputation and token value.

Why Should You Invest in the Coin

  • Comprehensive Financial Services:

  • Nexo offers a wide range of financial services for digital assets, attracting a broad user base.

  • Strong Regulatory Focus:

  • Nexo’s emphasis on regulatory compliance may provide a more stable and trustworthy investment environment.

  • Innovative Loyalty Program:

  • The Nexo Loyalty Program incentivizes long-term holding and platform engagement, potentially increasing token demand.

  • Token Buyback Programs:

  • Nexo’s buyback initiatives can reduce token supply and support price appreciation.

  • Diverse Revenue Streams:

  • Nexo’s diversified services, including its investment arm, Nexo Ventures, contribute to a robust business model that supports token value.

USP of the Coin

  • Regulatory Compliance:

  • Nexo’s commitment to regulatory compliance sets it apart in an industry often scrutinized by regulators.

  • Dividend Payments:

  • The initial dividend payment model showcased Nexo’s commitment to sharing profits with its community, a unique feature among crypto platforms.

  • Comprehensive Financial Ecosystem:

  • Nexo provides a broad spectrum of financial services under one platform, from loans and savings to trading and investments.

The problem the Coin is Solving

Nexo addresses the need for immediate liquidity without selling digital assets. By offering tax-efficient, asset-backed credit lines, Nexo enables users to borrow against their cryptocurrencies while benefiting from potential asset appreciation.

Founder and Team Background

Antoni Trenchev, Georgi Shulev, and Kosta Kantchev co-founded Nexo. Trenchev, with a background in finance and law, has been a vocal advocate for cryptocurrency and blockchain technology. He has led Nexo to acquire over 50 licenses and registrations worldwide, emphasizing regulatory compliance and innovation in fintech.

ICO Price

Nexo’s ICO took place in April 2018, raising $52.5 million with an initial token price of $0.10. The ICO was notable for reaching its funding cap during the private pre-sale phase, leading to the allocation of all tokens to pre-sale investors without a public sale.

Risks Associated with Investing in the Coin

  • Regulatory Uncertainty:

  • Changes in regulatory landscapes could impact Nexo’s operations and the NEXO token’s utility.

  • Market Competition:

  • Intense competition in crypto lending could affect Nexo’s market position.

  • Price Volatility:

  • Cryptocurrency markets are highly volatile, which can lead to significant price swings for NEXO tokens.

  • Legal Challenges:

  • Ongoing legal disputes and investigations could harm Nexo’s reputation and operational stability.

  • Platform Dependency:

  • The value of NEXO tokens is closely tied to the success and adoption of the Nexo platform, making it susceptible to platform-specific risks.

Whitepaper Insights

The Nexo token (NEXO) is intricately designed to serve as the backbone of Nexo’s financial ecosystem, offering instant crypto-backed loans. This innovative approach allows users to access liquidity without selling their digital assets, addressing a significant inefficiency in cryptocurrency. The whitepaper insights reveal a comprehensive strategy to integrate traditional financial services with the burgeoning digital asset space, leveraging blockchain technology to provide secure, efficient, and accessible financial solutions.

Nexo’s whitepaper outlines the token’s utility, emphasizing its role in enhancing user benefits within the Nexo platform. NEXO token holders are eligible for various incentives, including reduced interest rates on loans, higher yields on savings, and dividends from the platform’s profits, showcasing Nexo’s commitment to sharing its success with its community. The token operates on the Ethereum blockchain as an ERC-20 token, ensuring compatibility with a wide range of wallets and exchanges, thus facilitating ease of access and liquidity.

A key aspect detailed in the whitepaper is the tokenomics of NEXO, including its total supply, distribution, and the mechanisms in place to support its value and demand. The total supply of NEXO tokens is capped, with a portion allocated to the initial coin offering (ICO), team, and operational reserves. This finite supply and buyback and burn mechanisms are designed to reduce the circulating supply over time, potentially increasing the token’s scarcity and value.

The whitepaper also delves into the Nexo platform’s regulatory compliance efforts, highlighting its adherence to global financial regulations and proactive approach to obtaining necessary licenses and registrations. This focus on compliance positions Nexo as a trustworthy and reliable platform and mitigates regulatory risks for token holders and users.

Furthermore, the whitepaper presents Nexo’s vision of bridging the digital and traditional financial worlds seamlessly. By offering instant loans backed by digital assets, Nexo enables users to leverage their cryptocurrency holdings for liquidity while retaining the potential for asset appreciation. This approach addresses a critical need within the cryptocurrency community, providing a practical solution for accessing funds without liquidating investments.

In summary, the Nexo whitepaper provides:

  • A detailed overview of the NEXO token’s role within the platform’s ecosystem.

  • It is outlining its utility, tokenomics.

  • The strategic vision behind Nexo’s services.

By combining innovative blockchain technology with a strong focus on regulatory compliance and user benefits, Nexo aims to revolutionize how individuals and institutions interact with digital assets, offering a secure, efficient, and accessible platform for crypto-backed lending and borrowing.

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Price as per 12:21 PM • 13 Dec 2024

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What is the price of Nexo (NEXO)?

The current price of Nexo (NEXO) in INR is ₹134.93 INR.

What is the current NEXO market cap?

The current market capitalization of Nexo (NEXO) is ₹86,95,45,74,319.43 INR. This value represents the total market value of all coins in circulation, calculated by multiplying the current price of NEXO by the number of coins in circulation.

What is the current supply of Nexo (NEXO)?

The current supply of Nexo (NEXO) is 646145839.57 NEXO. This figure represents the total number of coins that have been mined and are currently in circulation.

What is the 24 trading volume of Nexo (NEXO)?

The 24-hour trading volume of Nexo (NEXO) in INR is ₹83,53,79,910.62. This figure represents the total value of all NEXO transactions across various exchanges within the last 24 hours.

How to Buy Nexo (NEXO) in India?

To buy Nexo (NEXO) via Mudrex, simply sign up and create an account on their platform. Proceed by completing the KYC process to verify your identity. Once verified, deposit funds into your account using the available methods. With your account funded, you're all set to start investing in NEXO.

Can I buy Nexo (NEXO) with UPI?

Yes, you can buy Nexo (NEXO) with UPI on Mudrex, which accepts payments through popular UPI apps like Paytm, PhonePe, and Google Pay, offering a convenient and quick way to invest.

How to Convert Nexo (NEXO) to Indian Rupee (INR)?

To convert Nexo (NEXO) to Indian Rupee (INR), you can use our NEXO/INR conversion rates in real time.

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