$NEXO is up 2.01% on the week and trading at $0.848, rank #92, and almost nobody is talking about why a lender keeps its footing.
A month ago Nexo launched a regulated crypto-backed credit product in Australia, per CryptoBreaking. A license is the boring part of lending, and it's the part that decides who's still standing when the cycle turns.
Galaxy Digital rolled out its own crypto-backed lending for BTC, ETH and SOL holders around the same time. I read that as a compliment. Big names don't enter a market that's empty, and Nexo already has a regulated product live while others are announcing.
Where it trades now is $0.848, sitting right on the bottom of a 24h range of $0.84 to $0.88. If it holds $0.84, I think it walks back up to the $0.88 high, because sellers had a full day to push it lower and couldn't. If it loses $0.84, I'm wrong on this and there's nothing to defend. Anyone holding $NEXO for the regulated-lender story should take the loss and walk.
holding $0.84 or losing it?
follow me for more calls like this.
A month ago Nexo launched a regulated crypto-backed credit product in Australia, per CryptoBreaking. A license is the boring part of lending, and it's the part that decides who's still standing when the cycle turns.
Galaxy Digital rolled out its own crypto-backed lending for BTC, ETH and SOL holders around the same time. I read that as a compliment. Big names don't enter a market that's empty, and Nexo already has a regulated product live while others are announcing.
Where it trades now is $0.848, sitting right on the bottom of a 24h range of $0.84 to $0.88. If it holds $0.84, I think it walks back up to the $0.88 high, because sellers had a full day to push it lower and couldn't. If it loses $0.84, I'm wrong on this and there's nothing to defend. Anyone holding $NEXO for the regulated-lender story should take the loss and walk.
holding $0.84 or losing it?
follow me for more calls like this.
