This article was last updated on August 8, 2022
Cryptocurrencies are all the rage lately, and for good reason. They offer a new way of handling finances and can be used to purchase goods and services online. One cryptocurrency that is garnering a lot of attention is Nexo (NEXO). Here we will explore some of the reasons why Nexo is worth monitoring, as well as our price predictions for it.
If you are interested in the crypto world but are also new to it, we suggest going through our dedicated “Crypto For Beginners” article. You will find all the necessary information to build a strong foundation. And if you already have a strong foundation, you will easily understand all things this article covers.
There’s a good chance you’ve heard about Nexo before. If that’s true, then you’ve also probably heard that it is the future of payments. More specifically, it enables buying, selling, sending, and trading of cryptocurrency like never before.
Nexo’s main goal is to help users unlock the power of their cryptocurrencies. However, this is only it scratching the surface. Without wasting any time, let’s learn more about Nexo.
Over the past week, the price of Nexo (NEXO) remained around $0.75. The circulation supply is 560 million tokens. The market cap went up to $436 million.
Table of Contents
What is Nexo?
Nexo is an online, blockchain-based platform, that allows users to lend their cryptocurrency for profit, or borrow crypto. Currently, the accepted methods are Bitcoin, Ethereum, Litecoin, XRP, and 35 more cryptocurrencies. This means you can use these tokens as collateral when taking a loan. What’s interesting here is the fact that the loan can come in the form of fiat currency or even stablecoins.
Nexo, just like every other blockchain project has its own cryptocurrency – NEXO. That’s right, both the network and the cryptocurrency are called the same name, which can be a bit confusing. However, you can look at it in the following manner – all capital letters in NEXO mean we are talking about the cryptocurrency itself, and using only the first letter as capital means we are talking about the network.
You can lock in/stake NEXO within the Nexo platform. This grants you benefits such as discounts on the accumulated interest when you take a loan and the chance to receive interest payments on deposited funds. All token holders also receive dividends from the profit Nexo gets manually.
Price History & ATH
A very important historical part of a crypto network and its native currency is its price evaluation over the years. This is exactly what we are going to go through in this section. We will also be using it as a pillar to our Nexo price prediction sector below.
The NEXO cryptocurrency was first released on the 2nd of May, 2018, with a price evaluation of $0.21. In only six days, the price managed to go up to $0.41, which is a 2x growth in less than a week’s time. However, similar to other networks, initial investors began selling the token and so it lost value. In only a week after reaching a 2x growth, the price went down to $0.05.
In 2019, nothing much changed as the price of NEXO remained stagnant. There were only a couple of spikes here and there, allowing NEXO to reach a price evaluation of $0.12, which was not much of a gain.
2020 was no different as the movement was almost literally not there. However, there was a little spike in the price in August, reaching over $0.22 which was a good starting ground, as this was the initial price of the token.
What people didn’t see coming was the price of NEXO in December. A bullish phase began, allowing Nexo to be adopted by more people. This is also when we began seeing the spiking interest in cryptocurrencies around the world. By the end of the year, NEXO had a price of $0.56, which was nearly 3x what it initially was priced at.
In 2021, the bull run continued for some time. Especially in April and May, when the global media gave the spotlight to cryptocurrencies. This is when NEXO reached its all-time high of $3.92 on the 8th of May, 2021.
The following couple of months were a bit boring for the whole crypto market, as there was a semi-crash. This is when the price of NEXO dropped down to about $1.5 and remained for a while.
Things began picking up again in November when NEXO yet again breached the $3 mark and managed to reach about $3.44.
However, as you probably know, November marked the last best month for the crypto market until today.
The end of 2021 finished with NEXO being evaluated at $2.38.
As we all know, 2022 is a disaster for the crypto market in terms of price evaluation. Sadly, this includes NEXO. The token’s been on a bear run ever since the 1st of January when it was evaluated at $2.50.
Currently, the price of NEXO is extremely volatile but goes from around $0.65 to $0.80, depending on the cycle.
Can NEXO Reach $5
Nexo is a project that comes with a lot of utility. This is what many investors love about it. Owners are optimistic about the development of the network, once the market stabilizes. That’s why so many believe the price will not only reach $5 but go beyond.
However, let’s think about it for a moment. The current price of NEXO is around $0.65. This means it will need more than a 7.5x increase in order to reach a price evaluation of $5. With a current market cap of $365 million, this will result in a new market cap of more than $2.75 billion.
This is why we believe NEXO can reach $5. However, the results will not come anytime soon.
First, we need to see market stabilization. This will happen after the military conflicts in Europe get resolved. Until then, the market will proceed to be chaotic and bearish.
So when is NEXO going to reach $5? We believe NEXO can reach $5, but it will take at least 1 more year, or 2 if we are being conservative.
Nexo Price Predictions: 2022-2030
Our Nexo price forecast approach will be a conservative one, while still remaining realistic. When doing a price prediction, we must take into consideration the many different aspects that can affect a token like Nexo and the whole market.
For example, the military conflicts in eastern Europe are the main reason for the crypto market crash. It’s not only Nexo holders that are wondering whether or not it is time to cash out, due to worries of escalation. Because of that, it is going to be the main factor we will be considering.
Following that, we will bring you our own opinion and realistic expectations, and even a table including the minimum price, average price, and maximum price of Nexo.
Without further ado, let’s get right into our Nexo price predictions.
For 2022 specifically, there are two things that can affect the NEXO price more than anything. These would be the resolution of the conflicts in Europe or their escalation.
If things settle down, we can expect the price of Nexo to go up to $1.25 or more. Keep in mind that this is a somewhat conservative future price of NEXO.
On the other hand, if the conflicts further escalate, we can see an additional drop in the market. This will affect the price of Nexo and it could go for around $0.35.
Things are similar with 2023, although the biggest factor here will be how adopted cryptocurrencies will be. Not only by people but also by jurisdictions and institutions.
We believe that the token will start regaining its past prime and go up to around $1.73 or even $2.31.
On the other hand, we could also see a market stagnation, which will lead to NEXO being evaluated at around $1.3.
Assuming the market calms down a little, we will see only a slight change in the lower and upper ranges. That would be around a 20% gain or 10% drop in price.
The maximum price will be somewhere between $2.75 and $3.05, while the minimum should be around $1.65.
There isn’t much of a change, but we will need to wait and see what the Bitcoin halving will look like. There’s a chance it will strongly affect the crypto market.
The further we get away from the current time, the more speculative we will be getting. By 2025, we’d hope to see even more adoption of cryptocurrencies. This will be great for literally every token out there that has utility.
Those without utility will surely disappear, as we can see by viewing historical data.
We can expect Nexo’s price to reach anywhere from $3.35 up to $3.88 if we are being more optimistic. However, many believe it will have broken the $10 by then, although we do not see how that’d happen.
Nevertheless, we need to make sure to keep the price conservative, which is why we will go with $3.55~.
2026 will just further prove whether or not the cryptocurrency market will see greater adoption. We certainly believe it will. Because of that, we can expect the price of Nexo to be strongly supported at around $3.90 while reaching the highest price of $4.5.
This is our price prediction for Nexo for the first year of the second half of the decade.
The greater the adoption of cryptocurrencies gets, the higher the prices will go. That’s because the overall cryptocurrency market cap will proceed to increase. Promising crypto projects such as Nexo will definitely follow the example of the mass.
At that point, we can expect to see Nexo at around $5.1, with a potential to reach $5.9.
2028 won’t be too different than 2027. These years are overall great for long-term investors. Hopefully, financial institutions will also want to work hand-in-hand with the crypto space.
Here, we should already have strong resistance levels at around $6, while the price can even go as high as $7.15.
At this point, we must mention that our conservative approach might not last. That’s because by 2028 we will see enormous cryptocurrency adoption by both jurisdictions and regular citizens. This will highly affect the price of any cryptocurrency, so at this point, we are simply guessing.
We won’t be surprised if there is some sort of stagnation at the end of the decade. For this reason, we will speculate that the NEXO price will stay at around the $8 mark.
This would be a great accumulative opportunity because many will start to sell Nexo due to a lack of volatility. The following year, we can expect a price rise, so let’s see what the beginning of the new decade potentially has in store for us.
For 2030, we will still remain realistic and conservative, however, we will go for a different approach. Because it will be the start of a new decade, the most important thing will be whether or not cryptocurrencies get needlessly regulated or not.
If that happens, the price of most tokens will certainly drop. This will definitely include the current price of Nexo at that time.
So how much will Nexo be evaluated?
Well, we believe that there will be a maximum value/maximum price level for the average trading price of around $8.5 (although many truly believe it will break the $15 mark).
However, the price of Nexo could also drop big time and our price prediction might be completely off. At this point, our NEXO price prediction will be around $1.3, which is just 2x above the current price of Nexo. And in the worst-case scenario that Nexo is forgotten, you can expect the price to go for only a couple of cents.
Our Opinion On Nexo (NEXO) Price Predictions
Given the Nexo price today, we can make lots of speculations. However, when doing a price prediction or looking at one, you must stay completely aware that most of the time it is completely off.
Although we kept a strong conservative approach with our average forecast price, you should still take this prognosis with a grain of salt.
Nexo is certainly a great project with huge potential, which makes us believe that it will survive throughout the years.
That’s because many who have no understanding of the crypto market are buying Bitcoin. With time, they will definitely be more interested in the space. That’s also when they start learning how to optimize their Bitcoin and other tokens, which is where Nexo comes into play.
Overall, although we believe Nexo will certainly be bullish and we believe in our speculations, we can never be certain.
Is NEXO a Good Investment?
At this point, you might be wondering – is Nexo a profitable investment? Although this is not investment advice, we are willing to share our opinion. However, make sure to do your own research as well.
When looking at the crypto market, you will find a lot of projects who are looking to find solutions to problems that do not exist. Others will create problems in order to present a solution.
And then there are truly wonderful projects in the crypto and blockchain industry, which are going to be the future of the crypto space. Nexo is giving countless job opportunities that can be found on their official website. This is something that shows the team’s dedication to the project and the crypto world.
Such a project is Nexo. This alone is a good reason to believe it will be a success. We think it is going to be a great investment, especially in the long run. Yet, since anything is possible with the crypto market, things can change in only a couple of months, so make sure to pay attention to Nexo news if you decide to invest.
How To Buy NEXO – In-depth
Thanks to the token’s massive success and popularity, Nexo is listed on most major crypto exchanges and online trading platforms. This means that investing in crypto is not too complex and you won’t have to go through a lot of unnecessary steps.
Below we have provided an in-depth outline of the general steps you will need to take to invest in Nexo and where you can find the token.
- Choose A Crypto Exchange Platform
The first thing you will need to do is choose a crypto exchange platform that carries NEXO. Luckily, the token is quite popular and is present on most major platforms like eToro, Binance, Coinbase, Bitstamp, and Kraken.
- Create An Account
After you have chosen your trading platform, you will need to create an account if you don’t already have one. This process is usually pretty straightforward and usually takes only a couple of minutes. However, you will need to provide personal information such as full name, date of birth, email address, and country of residence.
- Verify Your Account
Once you have set up your account, you will also need to verify your identity. This process is a bit lengthier and requires some additional information. Generally, the platform will require that you provide copies of your photo ID, proof of address, and other documents. This is in accordance with Know Your Customer (KYC) laws which aim to prevent fraud.
- Deposit Fiat Currency
Next, you will need to deposit funds into your account. You will use these to purchase NEXO tokens. The amount you can deposit will depend on the crypto exchange platform you are using and the number of coins you wish to purchase. Each platform will support different payment methods and have varying minimum requirements.
- Buy NEXO
Once you have supplied your account with sufficient funds, you can purchase your NEXO coins. Head over to the markets or crypto exchange section of your platform and search for the NEXO symbol. Once you have found Nexo, place an order for as many tokens as you would like to buy. Alternatively, you can input how much fiat currency you would like to spend and the system will show you how many tokens that translates to.
- (Optional) Move Your NEXO Tokens to an External Wallet
Once you have purchased your Nexo, you have the option to move it to an external third-party wallet. While you can easily store your cryptos in your exchange profile, a dedicated wallet is much more secure. Most platforms allow you to easily transfer your cryptos by linking a dedicated wallet to your exchange account. Alternatively, you can do it manually by transferring them to your wallet’s public address.
Nexo is a remarkable network that will definitely be around for a while. Mainly because it is a leader of a whole niche in the face of digital payments. It also presents a great solution to a problem that’s been around for quite some time.
The Nexo platform is very easy to use, so once more people adopt it we will be experiencing the snowball effect.
We believe it will keep on growing as a platform and a cryptocurrency. Its market cap will increase over the years, and it will definitely climb up the leaderboard.
That is also why we believe our conservative Nexo price forecast is mostly accurate. If anything, we are probably undervaluing its future price. However, we always keep it conservative and realistic.
Of course, there’s always a chance to be completely off with a prediction, but projects like Nexo are less risky than others. That’s because there’s a whole system supporting them, in addition to the amazing team of developers.
Overall, we will definitely be seeing more from Nexo, which is why we will keep a close eye on its future development.