Nexo (NEXO)
| Market Cap | $405,700,845 |
|---|---|
| Trading Volume | $23,406,673 |
| Volume / Market Cap | 0.0577 |
| Total Supply | 1,000,000,000 NEXO |
| Max Supply | 1,000,000,000 NEXO |
Nexo is currently trading at $0.72, after a price change of -1.94% in the last 24 hours.
Ranked as cryptocurrency #78 by capitalization today, NEXO market cap is valued at $405,700,845. NEXO trading volume reached $23,406,673 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on NEXO coin price prediction page.
What is Nexo?
Nexo is a blockchain-based lending protocol that offers instant cryptocurrency-pegged loans. The platform uses smart contracts, and Nexo oracle integrated into the Ethereum blockchain to manage the lending process. The oracle calculates the loan limit based on the market valuation of the cryptocurrencies deposited in the digital wallet. Users can send their digital assets to Nexo and access the loans via a free credit card or bank account. The collateral is returned to the user once they repay their loan.
NEXO is the native token powering the Nexo protocol. There are 560,000,011 circulating NEXO tokens from a total supply of 1 billion and a matching hard cap. NEXO is an ERC-20 standardized coin that benefits from Ethereum’s proof-of-work consensus algorithm. The token gives holders benefits, including discounts on interests and a return on the deposited funds. Nexo holders can equally get dividends from the network revenues.
The Nexo team is led by Antoni Trenchev, Kosta Kantchev, and George Shulev, who currently serve as managing partners. The project debuted in 2018 and is backed by Fintech group Credissimo, an entity formed in 2007.