Nexo (NEXO) Gains 45% in February as Fundamentals Continue to Improve


Nexo’s token (NEXO) price jumped over 14% on Wednesday after the crypto-backed lending platform announced that it has already processed more than $300 million in only 7 months.

According to the announcement, from Q3 to Q4, Nexo saw its user base grow by 700%, bringing the total users to 170,000. Nexo also paid out a dividend worth $912,071, or 30% of the $3,040,239 profit from the first 7 months. This equates to an annualized yield of 4.80%, which is significantly better than many notable dividend stocks like Apple (AAPL) and Coca-Cola (KO).

(Nexo / Medium)

And investors appear to be waking up to NEXO’s potential, as the token has gained over 45% in the last month. While NEXO is notably absent from most major exchanges — perhaps because the company views it as a security token — it’s easy enough to buy on the Nexo platform or through Changelly.

NEXO/USD via CoinCodex

NEXO is now trading for $0.080239, giving the token a $44.5 million market cap and making it the 79th largest cryptocurrency.

More: $300M+ in 7 Months for 170,000+ Nexo Users

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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