DeFi boom and Bitcoin rally position NEXO to close 2020 with a 480% gain
Cointelegraph
Published Dec 20, 2020 07:36PM ET
Updated Dec 20, 2020 09:20PM ET
Over the past three months NEXO token, the native asset of Nexo’s blockchain-based lending platform, has increased by more than 480%. Since Bitcoin (BTC) traded for $10,000, NEXO price has closely tracked BTC but the performance is somewhat lackluster when compared to the 1000% rallies seen from a handful of DeFi tokens.
The project was initially revealed by the European FinTech Group Credissimo in late 2017 and claimed it would offer “the world’s first instant crypto-backed loans.”
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Written By: Cointelegraph
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