NEXO Price Prediction - Where Will NEXO Go in 2023

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Nexo is the largest lending company in the decentralized finance ecosystem and potentially an enabler for the mass adoption of crypto. As lending is a crucial component of every financial ecosystem, Nexo could lend an important hand in bringing crypto to the mainstream.

It’s no wonder, therefore, that investors are increasingly considering adding the coin to their portfolio, positive for the coin’s performance in the future. Today, we’ll take a look at the fundamentals that make Nexo so special, understand where it stands on the technical front as well as predict where it might land over the years.

Fundamentals of Nexo

Nexo is a lending company that issues cryptocurrency-backed loans in the Defi space. Users can deposit their crypto tokens as collateral in exchange for fiat or stablecoins.

Users can also earn interest on their crypto holdings, as Nexo offers high-interest rates for users who hold their crypto over a longer, pre-decided duration. To do this, users need to transfer their holdings to Nexo’s digital wallet and receive their yields in either the same currency as their deposit or NEXO tokens. Plus, these tokens can be bought from Nexo’s own exchange before they can be deposited.

A standard rate of 4% is given for crypto tokens, while stablecoin receives a return of 8%. However, some interest rates on the platform can reach as high as 12%.

NEXO is the official token of the company based on the ERC-20 standard. It comes with its share of exclusive benefits, including the incentive where users who hold NEXO tokens in their account get dividends from the company since 30% of the company’s profits are distributed as dividends.

The company has also partnered with one of Europe’s prime financial companies goes by the name of Credissimo, which attaches an additional layer of credibility to the company and its future. Plus, collateral loans are increasingly getting popular and given the current trend of Nexo, it’s likely to become one of the leading players in crypto lending.

Nexo: Technical Analysis

The NEXO token is trading below the 200-day simple moving average right now, and this indicator has been indicating “SELL” for the last two months. The price is also below the 50-day SMA level, which has been indicating “SELL” since Nov 08, 2022.

The death cross for Bitcoin happened 319 days ago, while the one for NEXO happened 415 days ago, on Nov 08, 2021. A death crash is an indicator suggesting a bearish market for cryptocurrencies.

NEXO’s 200-day SMA will likely drop next month and could possibly hit $0.8032 by the end of 2023. While the 50-day SMA is expected to hit $0.6729 by the same time, which is Jan 27 2023. The Relative Strength Index (RSI) of the token currently indicates that the token is in a neutral position.

Experts Predict Nexo’s Future

Nexo is among the top 100 cryptocurrencies in the world; it’s natural for market experts to constantly have their eye on the token. Everyone has their own opinion and prediction of where the NEXO token could go.

Here are a few you may want to look at:

WalletInvestor.com withholds its optimism for NEXO and makes a bearish guess for the token. They believe the token might maintain a gradual downward movement over the near future, landing at less than $0.50 by mid-2023.

CryptoGround.com, on the other hand, is quite optimistic about the future of NEXO and position’s the coin to reach $1.1 in a year. They’re bearish over the long run and believe the coin possibly reaches $10 over the next 10 years. While it may sound enticing, investors should arrive at a generalized figure by taking into account all the predictions by experts.

Digital Coin Price is among the most unreal predictions, as they expect the coin to reach $3.1 and a constant bullish pattern for the long run. While the token does show some optimism, reaching the price target for NEXO will be nothing less than a spectacle.

Among all the predictions covered, the most reasonable comes from Gov Capital, who suggest the price of $0.773 for the token at the start of 2023, while it’ll end the year on a much positive note, possibly touching $2.97. The site also predicted the coin to reach $8.91 over the next three years.

NEXO Prediction: 2022,2023,2025,2030

While the predictions by experts remain contrasting, we’ve tried to offer the most reasonable forecast by taking into account all the predictions.

NEXO Price Prediction For 2022

Since 2022 is about to end, there isn’t much space for the coin to make some massive gains. However, new year’s spirit with crypto investing could nudge the price up by a decimal. Ideally, the price should remain under $0.80 by the end of 2022.

NEXO Price Prediction For 2023

The last forecast by experts suggested the coin to open the next year at $0.77 and close at $2.97. This, for now, seems quite likely and investors could expect the coin to reach $2 in 2023.

NEXO Price Prediction For 2025

Considering NEXO follows a bullish pattern starting next year, the token could very well be above $3 and around $5.5 in 2025. However, if the price starts a downward trend in the future, it could reach below $2.

NEXO Price Prediction For 2030

It’s tough to predict the price of the token over such a long timeline. However, considering everything goes well for the company, the token will effortlessly jump above $10 by 2030. But again, if the token plummets, it could land at its price prediction for 2023.

Crypto predictions are a fun way to look at a project’s future. However, your investment decisions shouldn’t be limited to only these considerations. If you’re planning to invest in cryptocurrencies, understand the fundamentals, study market trends, and if possible, conduct technical analysis before you add a token to your portfolio.