Please note that this article shouldn’t be perceived as investment advice. Rather, it is information to be considered when you make your decisions.
Predicting the prices of cryptocurrencies, especially for years ahead, might seem an infeasible task. And it is valid to some extent. However, decades of market research have taken their toll. Traders and market analysts developed many tools that help to determine where the price is heading based on the previous trajectory and scheduled events that usually affect the crypto market in a certain way.
In this article, we provide a price prediction of the cryptocurrency known as Nexo. We will predict the Nexo price for 2023, 2024, 2025, 2027, and 2030 years. Nexo is a native token of the crypto lending platform of the same name. On top of price prediction, we will answer the most frequent questions about the Nexo price and provide the past trajectory of the Nexo price so you will have a better perspective of the asset in time.
What Is NEXO?
Nexo is a platform suitable for investors looking to grow their wealth in cryptocurrency or borrow some crypto. Apart from cryptocurrencies, Nexo allows users to do operations with fiat currencies. It makes Nexo an entry platform and significantly eases its use.
One of the selling points of Nexo is that it offers competitive rates for investment growth opportunities. The APY can reach a 16% level. In some instances, on Nexo, you can get cash loans with zero APR.
The platform provides multiple protection measures to ensure the safety of funds deposited to Nexo. More than that, the company is not anonymous, and people responsible for the fair work of Nexo are public.
The major positions in the company are occupied by Michael Arrington and Acntoni Trenchev. Nexo was launched in 2017. As of April 2023, over $1.5 billion went through Nexo. The user base exceeds 2 million. In terms of market cap, NEXO is slightly below the top 100 cryptos.
Main Features
Nexo allows users to do the following:
- Get a loan in fiat money. The action doesn’t require selling crypto
- Loan review doesn’t take much time
- The 10% annual growth on fiat money and stablecoin investments
- The 6% yearly growth in crypto investments
- Nexo has anti-theft insurance via BitGo
- Interest is paid daily (in the case of crypto investment)
As of April 2023, Nexo supports over 40 fiat currencies. Using the platform, you can buy crypto, swap tokens, earn interest, and get loans. On top of it, you can get a Nexo crypto loan card.
Using an Earn on Crypto function, you can lock up different assets as an investment. You can get rewards in the same currency as an investment itself or choose to get rewards in NEXO, a platform’s native token. If you choose the latter option, you will get rewards only in NEXO, regardless of the currency you hold.
To incentivize users to prefer the NEXO rewards, the platform offers an extra 2% interest to those who choose this option. It means that with NEXO rewards, you can enjoy up to 8% APY for crypto investments and up to 12% APY for stablecoins and fiat currencies. These numbers make NEXO one of the highest-yielding crypto platforms. It’s understood that such a bonus for the use of the Nexo native token stimulates the growth of the NEXO price.
NEXO Price Prediction for 2023, 2024, 2025, 2027, and 2030
Lately, the crypto market has been recovering from the 2022 downtrend. As Nexo is a competitive project whose native token has landed on several top-notch exchanges, we believe the NEXO price will increase. By most conservative prospects, the Nexo token will reach at least 80 cents per token by the end of 2023. However, most probably, it will cross the $1 line.
2024 will see a crypto rally associated with the next BTC reward halving. Considering the upcoming Nexo collaboration plans for the future and the overall market surge, the NEXO price may reach up to $1.7. At worst, it will hit $1.3.
By the end of 2025, the NEXO is expected to reach from $2 to $2.42, depending on the duration of the crypto market uptrend.
The tech indicators show that in 2027 the NEXO price is finally going to reach a level of its all-time high, hitting from $3.44 to $3.9 by the end of the year.
In 2028, the NEXO price will definitely cross the $4 mark and grow up to $5 during the following year. The anticipated average NEXO price is around $5.49. By the end of the year, it may exceed $5.7.
NEXO Price Analysis for the Past Several Years
The Nexo token appeared on the markets in May of 2018. Its price has been volatile throughout time, but the overall trend is ascending. As of April 2023, the token costs more than when it entered the market.
The initial price of the Nexo token was around 21 cents. In the summer of 2018, the price shrank in two. It coincided with the overall crypto market decline lasting until 2020, with separate spikes here and there. Another factor contributing to the poor performance in the market was the limited presentation on the most popular exchanges.
In the fall of 2018, the price fluctuated roughly between 5 and 10 cents. The winter saw an even harder situation when the price gravitated toward the $0.05 mark. In the spring, the NEXO coin was listed on Huobi Global, and the price rose to 7-8 cents.
In the summer of 2019, the BTC price surged, pushing the rest of the market up. The NEXO price saw moderate growth, reaching up to $0.12. By the end of the summer, both BTC and NEXO rallies changed to a downtrend. NEXO returned to a 10 cent and lower levels.
Only in early 2020 the price began to reach high points again. In February, it regained the starting price reaching the $0.2 mark. This growth was the reaction to an overall crypto market awakening before the COVID-related downfall in March, followed by another bull market in the spring of 2020.
In June, NEXO was listed on BKEX. That month the price touched the 20 cents level once again. By the end of summer 2020, the price dropped to 13 – 14 cents per token which is still better than before. The crypto bang of 2021 was about to happen. Closer to 2021, the price of NEXO began to grow. In November, the $0.2 price was regained one more time. The NEXO price crossed the new mark by December, reaching $0.33 per token. The price continued growing rapidly throughout the winter.
In February 2021, the price reached a $1 level for the first time. The entire crypto market was on the rise. 2021 had two massive rallies — one of them took place in the spring and the second one — in the fall. NEXO peaked in the respective periods, with the peak price exceeding $3.8 in May and the second peak of $3.4 in November. Between those peaks, the price was volatile, falling below $2 at times.
Until May 2022, the price stayed around the $2 mark. In March and April, Digifinex and Binance listed NEXO. However, in May, the price quickly dropped below $2. It was a part of the entire crypto market decline. From May 2022 to April 2023, the price fluctuated between $0.5 and $1 per token.
Q&A part
Does Nexo have a future?
Nexo is showcasing multiple characteristics indicating that this project is here to stay. No one knows what the future holds, but Nexo has a good chance of becoming one of the leading platforms in its field.
Is NEXO worth buying?
We can’t give investment advice. You can make up your own mind by reading this article and checking other sources analyzing the probable future of NEXO.
Conclusion
Please note that at times the crypto market takes unexpected turns. Hence, the NEXO price has some probability of going in the other direction and reaching different levels in the mentioned years. It’s better to confirm these predictions with your own calculations or other sources.