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Nexo News

First Bitcoin mortgage taken out by former Mighty Ducks star, Brock Pierce - Decrypt Media

Crypto trend-setter Brock Pierce has taken out the world’s first bitcoin-backed mortgage to buy a home in Amsterdam. The former actor, who rose to fame in the 90’s comedy, Mighty Ducks, purchased the $1.2 million property using Bitcoin as collateral, according to a statement from lender Nexo on Wednesday. It’s already possible to buy a

4 hours ago

Billionaire Brock Pierce Takes Out First-Ever Bitcoin-Backed Mortgage

Bitcoin billionaire Brock Pierce took out a crypto-backed mortgage to buy a $1.2 million home in Amsterdam. But why didn’t he just sell some bitcoin and buy it? Use Bitcoin as Collateral for a Mortgage Cryptocurrency companies that allow you to earn interest on your bitcoins or get dollar loans are springing up like weeds. But you naturally imagine their ideal target for loans as young crypto HODLers that need fiat for something pressing. Not ultra-wealthy Forbes top 20 richest cryptocurrency billionaires like Brock Pierce. The Controversy That Follows Brock Pierce To much of the American public, Brock Pierce will always be that child actor who starred in Disney’s The Mighty Ducks. Not many of them know how knee-deep Pierce is in the cryptocurrency industry, (and controversy as well). An early adopter in the space, in 2013, Pierce co-founded VC firm Blockchain Capital (BCC) which had already raised some $85 million in two venture funds by Oct 2017. He was also a large investor in Etherum and supported the early days of Coinbase. At the height of his success, Pierce was the co-founder of, the entity behind EOS. He was named by Forbes as one of crypto’s top 20 richest people in February 2018. Then he was called out one month later on live television on John Oliver’s show Last Week Tonight over the allegations of his involvement in an underage sex scandal in the 90s. Even though he had reached an out of court settlement over that scandal, the repercussions would linger on. Shortly after, Pierce announced his departure from EOS. Several board members of the Bitcoin Foundation also left when Pierce became Chairman. Has The Mighty Ducks Actor Fallen on Hard Times Again? Yesterday, the world’s biggest crypto lender Swiss-based NEXO announced that Pierce was their first borrower to back a mortgage using cryptocurrency as collateral last November. NEXO told FOX Business that Pierce was the first person in the world to use his crypto assets to buy real estate. Antoni Trenchev, co-founder and managing partner at NEXO continued to say: He backed the entire loan for the house with bitcoin... This was our first-ever crypto-backed mortgage. With 95% of his net worth in cryptocurrencies and a less-than-squeaky-clean reputation, has Brock Pierce fallen on hard times again, needing to borrow money to buy a $1.2 million home? If Pierce is worth billions (or, at least, hundreds of millions) it rather begs the question-why didn’t he just buy it? Die-Hard HODLers Don’t Want to Sell Their Bitcoin It appears that the reason Pierce sought a Bitcoin-backed mortgage for the home is more one of financial astuteness than need. Die-hard Bitcoin HODLers don’t want to sell their assets. They’re convinced that the bull run will come again-but they need to access fiat in the meantime. This is why companies like NEXO, BlockFi, Celsius, and countless others, are finding more customers. It’s not just the high interest that HODLers can earn on their accounts, but the low-interest loans that are really taking off. Celsius alone has already initiated over $1 billion worth of crypto loans since June of last year-and it’s an incredibly appealing option. Rather than get a mortgage from a bank, these companies charge as little as 8 or 9 percent interest. And whale-sized HODLers with dwindling crypto wealth are lapping it up... Pierce reportedly told FOX Business that these types of companies are a bridge between the: old world of traditional finance and the brand new frontier that blockchain now enables. He went on to say: Being able to borrow against one’s crypto assets gives one options... I was able to hold on to my crypto and settle the transaction in fiat. Will Bitcoin-backed loans become a popular way to make major purchases? Share your thoughts below! Images via Shutterstock, Bitcoinist archives The post Billionaire Brock Pierce Takes Out First-Ever Bitcoin-Backed Mortgage appeared first on

2 days ago

Actor-Turned-Crypto Whiz Brock Pierce Buys $1.3 Million Mansion with Bitcoin

Actor-turned-crypto entrepreneur Brock Pierce used bitcoin as collateral to purchase a $1.3 million mansion in Amsterdam. The real estate transaction represents the first-ever crypto-backed mortgage. Swiss cryptocurrency startup Nexo facilitated the purchase. Nexo is a crypto wallet that lets you borrow up to $2 million in 45 different fiat currencies within 24 hours. “He backed the entire loan for the house with bitcoin,” Nexo co-founder Antoni Trenchev told Fox Business. “This was our first-ever crypto-backed mortgage.” Brock Pierce Holds 95% of Net Worth in Crypto Brock Pierce is a former child actor who starred on the hit 1992 film “The The post Actor-Turned-Crypto Whiz Brock Pierce Buys $1.3 Million Mansion with Bitcoin appeared first on CCN

2 days ago

Interest Bearing Crypto Accounts in Demand for 2019

Cryptocurrency custodial accounts with a banking twist of interest payments are set to win the trend of 2019, with all kinds of crypto interest schemes making their way, as reported by With the decline of the cryptocurrency market both in terms of price and volume, previous trends such as initial coin offerings and even airdrops have seen their popularity wane. Instead, crypto users are holding on and waiting patiently for the bull market to return, as many expect it to. Meanwhile, the promise of earning passive returns on crypto holdings is beginning to sound very attractive. Crypto custodians are taking a leaf out of the banking manual: accept crypto deposits, loan it out to businesses or make forward investments, and share the returns as interest. Some of the returns are considerably lucrative compared to traditional bank savings accounts. Nexo, for example, last week introduced up to 6.5% annual interest on stablecoins such as Tether (USDT) and True USD (TUSD). Daily compounded interest plus the ability to withdraw any amount at any time means they appear a lot more attractive than more established competitors such as Gemini-backed BlockFi, which recently pegged down interest rates for high-level accounts, or Ledgerx that introduced interest for Bitcoin accounts but imposed restrictions on withdrawals. Legitimate and regulated Bitcoin investments have not been easy to come by until recent years. While there are plenty of crowd investment opportunities online, such as being part of a crowdfunded casino bankroll, or investing in private businesses, none have offered the same level of customer service and presumed safety nets of regulatory compliant businesses such as Nexo or BlockFi. Critics of custodial services have pointed out that the very concept of cryptocurrency was to place control and ownership of money in the hands of the user, and that services like these encourage users to once more place their funds in control of centralized entities. Follow on Twitter: @bitcoinnewscom Telegram Alerts from Want to advertise or get published on - View our Media Kit PDF here. Image Courtesy: The post Interest Bearing Crypto Accounts in Demand for 2019 appeared first on

3 days ago

Interest-Paying Crypto Accounts Are This Year’s Leading Trend

2019 has witnessed a Cambrian explosion of crypto interest schemes. Previously, the only way to make a passive income on your cryptocurrency was through hodling and hoping it would rise in dollar terms, or to operate a masternode for a dubious altcoin. Today’s investors have it a whole lot easier thanks to a string of new savings programs that promise annual interest simply for locking up digital assets. Also read: This Photo Gallery App Is a BCH Light Wallet in Disguise Crypto Companies Are Borrowing From the Fiat Banking Toolbox Last week, Nexo became the latest crypto company to introduce interest to its customers, with the provision of up to 6.5 percent annually on stablecoins DAI, PAX, USDC, USDT, and TUSD. Interest will be compounded daily and funds will be protected by custodial insurance. Unlike most of the crypto interest schemes to have emerged this year, Nexo enables its clients to withdraw any amount of cryptocurrency at any time. As such, their crypto account essentially becomes a checking account, stocked with dollar-pegged tokens, but bolstered by the promise of annual interest that exceeds that of most fiat saving accounts. Nexo is by no means alone in incentivizing customers to secure their crypto in a custodial account and be rewarded. Blockfi will disburse 6 percent annually to clients who store ETH or BTC deposits. Ledgerx introduced its own interest-bearing BTC account last year for U.S. investors, while Compound provides up to 4.2 percent annually for assets such as DAI. At the start of March, Universal Protocol Alliance announced a stablecoin that would pay interest of up to 10 percent per year. Cryptocurrency users have never had more options in terms of where to store their digital assets. Having had it drummed into them for years that noncustodial wallets are the best place to stash their coins, long-term hodlers now find themselves torn on account of the attractive interest rates offered by third parties. Even with the promise of full custodial cover, cryptocurrency owners face a dilemma: to seek the sanctity and privacy of storing funds in a noncustodial wallet, or to raise the risk a little in return for a generous 6 percent. Balancing the Risks and Rewards of Interest-Bearing Crypto Accounts When Blockfi announced its crypto interest scheme, eagle-eyed readers scrutinizing the terms and conditions spotted that the assets would not be insured against losses. While offerings from the likes of Nexo and Coinbase Custody are fully insured, consumers should nevertheless familiarize themselves with the small print before committing. Coinbase hasn’t begun offering crypto interest accounts per se, it should be noted: rather, it’s added staking as a service, which obliges hodlers to lock up qualifying Proof of Stake coins such as tezos (XTZ). The end result to clients is much the same as receiving interest however; by the time Coinbase has taken its 2 percent, stakers will be left with an annual yield of around 6 percent. Staking and interest are not the same, as industry commenters such as Meltem Demirors have been keen to stress. For the end user, however, be it an institutional client who doesn’t want to “get their hands dirty” with the technical side of staking, or a retail client who doesn’t want to assume custody for their crypto, the outcome can appear indistinguishable. “Financialization of Bitcoin is inevitable and vitally important,” argued Zane Pocock in a Medium post on March 29. He continued: Financialized structures allow for much better liquidity, debt structures, and other benefits that mean institutional custody and lending can be good for Bitcoin. Pocock urged investors to do their own research into the interest accounts being offered by crypto companies and not to “fall for the illusion of free money. Bitcoin is our emergency exit from the outcomes of precisely that fallacy.” Crypto interest programs remain an alluring proposal, however, and their number is set to multiply over the coming year. As Shapeshift’s Erik Vorhees pointed out, once the inflationary nature of central bank currencies is factored in, crypto interest accounts become significantly more appealing than their fiat counterparts. When comparing crypto-denominated interest/yield to fiat-denominated yields, remember to subtract 2-3% of the fiat yield due to inflation. Stated differently, compare the real yield of fiat returns to the nominal yield of crypto returns. The delta is what central banks r stealing — Erik Voorhees (@ErikVoorhees) March 29, 2019 What are your thoughts on interest-paying crypto accounts? Let us know in the comments section below. Disclaimer: Readers should do their own due diligence before taking any actions related to the mentioned companies or any of its affiliates or services. and the author are not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or s

5 days ago

Nexo Now Lets You Get an Instant Loan Using Litecoin (LTC) As Collateral

FinTech startup Nexo has announced that it is now possible to get an instant credit line using Litecoin (LTC) as collateral.

5 days ago

Nexo (NEXO) Adds Litecoin (LTC) as a Collateral Option

Nexo (NEXO), a cryptocurrency-backed loan platform, revealed on Friday in an email to users that Litecoin (LTC) is now the newest collateral option for Nexo’s instant credit lines. We are thrilled to announce Litecoin as the newest collateral option for Nexo’s instant credit lines. LTC holders can now access instant cash in 45+ fiat currency while

5 days ago

@DonMatteo500 @etherscan All stablecoin deposits are backed ...

@DonMatteo500 @etherscan All stablecoin deposits are backed by the Nexo loan portfolio which is overcollateralized…

5 days ago

Biggest Trend of 2019 is Interest-Paying Crypto Accounts

The trend for the 2017 crypto market was ICOs and the flurry of investing and scams that came with it. During the bear market of 2018, the best performing trend was actually the emergence of stablecoins, which helped investors retain value as the crypto market sank lower and lower. So far in 2019, the fastest growing trend is interest-paying crypto accounts that finally allow crypto holders to earn more from their crypto. With platforms like Nexo, BlockFi, and Coinbase Custody offering interest and staking capabilities for cryptos and stablecoins, this looks to be the next big trend to keep an eye on. (JF)

5 days ago

Nexo (NEXO) Now Accepts Litecoin (LTC) as a Collateral Option

The team at Nexo recently posted the following message on their Twitter feed, indicating the next cryptocurrency to be added to the platform as an acceptable form of collateral: “We are thrilled to announce Litecoin as the newest collateral option for Nexo’s instant credit lines. LTC holders can now access instant cash in 45+ fiat currency while keeping the upside potential of their #LTC!” According to the announcement, Litecoin was chosen due to popular demand in their ongoing poll which asks what cryptocurrencies should be added to the Nexo platform. (JF)

7 days ago

Holders of $DAI can earn 6.5% of compounding interest as a r...

Holders of $DAI can earn 6.5% of compounding interest as a result of the partnership between Nexo & @MakerDAO that…

10 days ago

Nexo is thrilled to let the blockchain community earn 6.5% p...

Nexo is thrilled to let the blockchain community earn 6.5% p.a. on PAX. Earn passive income from the comfort of yo…

12 days ago

Nexo (NEXO) Now Pays 6.5% Interest on 5 Major Stablecoins

Nexo (NEXO), a cryptocurrency-backed loan platform, revealed on Friday that investors can now earn up to 6.5% interest on major stablecoins stored on the platform. Earn Interest on DAI, PAX, USDC, USDT & TUSD: - 6.5% p.a. compounding interest, paid out daily - Fully automated & available for all Nexo Wallets - No minimum amounts

12 days ago

@thedude8950 Not annoying at all. As a scaleup company, Nexo...

@thedude8950 Not annoying at all. As a scaleup company, Nexo has to evaluate carefully prior to paying out the next…

12 days ago

Nexo Starts Letting Investors Earn 6.5% Interest on 5 Stablecoins

Nexo (NEXO), a Zug, Switzerland-based startup that provides “instant” cryptocurrency-backed loans, has announced that it will start paying interest on five different stablecoins. Established in 2017 and having received $52.5 million in total funding (to date), the Nexo lending platform reportedly offers 6.5% interest, compounded annually and “paid out daily,” on Dai, Paxos Standard Token...

13 days ago

Nexo (NEXO) Begins Paying 6.5% Interest on Five Leading Stablecoins

On Friday, Nexo, a crypto-backed loan platform announced that investors can now earn 6.5% interest on top stablecoins that they store on the platform. Per the website, TUSD, USDT, USDC, PAX, and DAI now pay compounding interests of up to 6.5%. Additionally, investors can withdraw the interest funds at any time as there is no lock-up period. This news comes after Nexo reduced its loan limit to $500 to provide a more inclusive platform for investors with small portfolios. As at the time of writing, 5:35 AM UTC, NEXO is changing hands at $0.0762, down 3.91% in the past 24 hours. (KE)

13 days ago

📢 Good news TIOnauts! NEXO is now listed on the #tradeio Exc...

📢 Good news TIOnauts! NEXO is now listed on the #tradeio Exchange. @NexoFinance is the world’s first instant cryp…

16 days ago

Confira 4 criptomoedas que merecem atenção em 2019

Nem todas criptomoedas alternativas (altcoins) conseguem fazer tanto sucesso no mercado. Em vários casos, muitos investidores até esquecem que algumas criptomoedas estão entre as maiores do mercado, por exemplo. De esquecidas à impopulares, essas 4 altcoins podem surpreender ainda em 2019, confira: VeChain (VET) A VeChain (VET) está entre as 25 maiores criptomoedas do mercado em volume de capitalização. Embora esteja entre as maiores, nem todos os investidores já ouviram falar sobre essa altcoin. Por outro lado, a VeChain (VET) já surpreendeu em 2019, ao conquistar os melhores desempenhos em algumas ocasiões no mercado. Com mais de US$ 300 milhões de capitalização, a VeChain (VET) pode crescer neste ano, caso o mercado de ativos digitais reaja positivamente nos próximos meses. Tudo indica que essa altcoin apresentará melhorias em seu projeto. Sendo assim, o envolvimento da VeChain (VET) com projetos do setor automotivo, mercado de luxo e logística podem consolidar essa altcoin no mercado. Factom (FCT) A Factom (FCT) pode não ser uma altcoin nova no mercado, mas seu desempenho em 2019 já deu o que falar. Em vários momentos de valorização de todo o mercado essa criptomoeda viu seu preço subir expressivamente. Contudo, o plano ambicioso da Factom (FCT) pode colocar essa altcoin em evidência. Com um projeto voltado para a integração de blockchains distintas, a Factom (FCT) poderá apresentar em breve um novo ecossistema ao mercado. Isso significa mais inovação para essa altcoin, que está entre as 80 maiores atualmente. Com quase US$ 61 milhões de capitalização, a Factom (FCT) poderá ver seu preço disparar após seu novo projeto ser lançado. Para isso a criptomoeda fechou uma parceria com o Systems Planning and Analysis (SPA). Waves (WAVES) No começo de 2019 a Waves (WAVES) surpreendeu o mercado com uma enorme valorização. Em alguns momentos esse ativo digital também esteve entre os dez melhores desempenhos do mercado, em análises diárias. Subestimada por todos, a Waves (WAVES) também está entre as 25 maiores criptomoedas e possui quase US$ 280 milhões de capitalização. Com um preço rondando os US$ 3 novamente, a Waves (WAVES) pode surpreender em 2019. Com uma rede inteligente, que gera taxas para seus utilizadores, a plataforma Waves pode ganhar ainda mais adeptos ao longo do ano. Além disso, a altcoin está voltando suas atenções para criar um ecossistema criptográfico envolvendo a indústria de games. Nexo (NEXO) A Nexo (NEXO) talvez seja a altcoin mais impopular da lista. Essa criptomoeda está quase saindo do ranking das cem maiores e possui uma capitalização de quase US$ 50 milhões. Por outro lado, o projeto da Nexo (NEXO) pode colocar esse ativo digital entre os maiores do mercado. Ainda pouco difundido, o mercado de empréstimos envolvendo criptomoedas será completamente promissor. É apostando no crescimento deste setor que a Nexo (NEXO) apresenta sua tecnologia, ao criar um sistema integrado de empréstimos via tecnologia blockchain. Saiba mais em Confira 4 criptomoedas que merecem atenção em 2019

17 days ago

Best 4 Unpopular Altcoins You Should Consider In 2019

There are lots and lots of cryptocurrency projects ongoing in the market. Nevertheless, not all of them can stand the test of time with much instability in the market. It is a fact that most people see Bitcoin together with some top cryptocurrencies as the strongest in the market, yet some altcoins are worth considering as they are progressively gaining grounds and eventually growing in value. Let us take a look at four unpopular altcoins that should be considered in 2019. VeChain (VET) VeChain currently holds the 23rd spot on the top 100 cryptocurrency list and has a market cap of $301,151,483 and priced at about $0.005431 at press time. VeChain is ranked among the cryptocurrencies with the best website graphics. The automotive industry, healthcare, luxury, fashion, and logistics are some of VeChain’s applications. VeChain has partnerships with trustworthy companies such as DNV GL ink, PWC, BMW and is seen in the tobacco industry of China as it also has partnerships with the National Tobacco Corporation of China and the China State Tobacco Monopoly Administration. The use of VeChain goes beyond supply chain management in 2019 with a great vision directed by a skilled team. There is no doubt that VeChain should be on every investor’s list in 2019. Factom (FCT) Factom is a special favorite among this list. Factom currently holds the 79th position on the top cryptocurrency list and currently has a market cap of $60,927,718 and priced at $6.48 at press time, which suggest more room to become a top coin by market cap. Factom has a key goal of becoming the best in permitting multifunctional safe date storage void of any blockchain bloat. Factom has a partnership with Systems Planning and Analysis (SPA) and a report of a partnership with one of China’s best and independent B2B video network, Yooya. Also, 2019 will see even more connections and developments for the cryptocurrency and might get Factom to the top 40 with huge price growth. Waves (WAVES) With an exclusive value scheme, Waves is seen as an innovative platform that allows secure digital assets transactions. Waves is currently ranked the 25th on the top 100 cryptocurrency list and has a market cap of $278,268,974 and currently valued at $2.78. Waves adds value for investors by generating network fees by the use of any digital asset on its platform. Waves also has a great gaming market, which is a big chance of gaining extensive adoptions. Waves has made known of its plans to develop and help teams following a report of the need in implementing DLT, NFTs and smart contracts in the gaming and gambling industries. Many things from the cryptocurrency will be seen in 2019. Waves is gradually building up a good momentum this year, and it is expected to have a great year. Nexo (NEXO) Nexo is currently ranked 93rd on the top 100 cryptocurrency list and has a market cap of $48,733,408 and priced at about $0.087. Nexo is an interesting cryptocurrency and also has plenty of room to grow above its current position. Looking at Nexo’s trading average suggest that the cryptocurrency has more than enough liquidity for most investors. The primary goal of Nexo, according to their website is to become the “world’s first crypto backed loans” system. Nexo makes it easy for users anywhere across the globe to access real-world loans. Nexo platform is best for investors to gain interests in return if they wish to keep control over their assets on the blockchain yet allow their crypto to work for them. If you are an investor looking for a reliable, underrated coin to invest, then Nexo should be among your list. Disclaimer: The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available. The post Best 4 Unpopular Altcoins You Should Consider In 2019 appeared first on ZyCrypto.

17 days ago

Nexo (NEXO) Uptrend Remains Intact Following the Recent Pullback

Nexo’s token (NEXO) saw its price briefly surge over $0.10 last week on news that it gained a listing on Huobi Global, the eighth-largest crypto exchange by trading volume and the first major exchange to list the self-styled security token. While the listing, which included BTC and ETH trading pairs, was originally scheduled for March 6, it

17 days ago

Nexo is the only crypto lender that services tax-efficient c...

Nexo is the only crypto lender that services tax-efficient credit lines in 45+ fiat currencies and in 200+ jurisdic…

17 days ago

Happy belated birthday, Michael, the entire Nexo Team wishes...

Happy belated birthday, Michael, the entire Nexo Team wishes you all the best!

23 days ago

@KyleSGibson @CasPiancey @xusTIrettiwt @davidgerard @divideb...

@KyleSGibson @CasPiancey @xusTIrettiwt @davidgerard @dividebynine That is quite inaccurate and misleading. Nexo is…

24 days ago

@woolsim @CryptoGoblin Nexo is profitable by issuing instant...

@woolsim @CryptoGoblin Nexo is profitable by issuing instant loans, secured by crypto and we already have processed…

25 days ago

Nexo offering insurance for custodial crypto assets up to $100M

CryptoNinjas Nexo, a cryptocurrency based ecosystem for lending, today announced it will offer insurance to clients for the crypto assets they hold in their Nexo Wallets. The policy covers up to $100,000,000.00 for custodial assets via BitGo and the London-based insurance company Lloyd’s with its syndicate of... Nexo offering insurance for custodial crypto assets up to $100M

25 days ago

@xusTIrettiwt @CasPiancey @davidgerard The funds go directly...

@xusTIrettiwt @CasPiancey @davidgerard The funds go directly towards financing Nexo growing portfolio of collateral…

25 days ago

With crypto spring emerging both taking out an instant loan ...

With crypto spring emerging both taking out an instant loan from Nexo (APR starts at 8%) and earning interest of up…

a month ago

Crypto Market Wrap: Quick Recovery From $3 Billion Dump, Chance For Further Gains?

Crypto markets recover from a mini dump; Stellar and Cardano holding up, BSV and Maker sliding, Kyber Network surging. Market Wrap As we enter the weekend crypto markets are still consolidating but have recovered from a $3 billion dump a few hours ago. The majors have been largely motionless over the past 24 hours and total market capitalization is still holding above $130 billion. The lack of momentum could signal another big dump around the corner but the quick recovery is promising. Bitcoin has hit $3,950 twice over the past day but the second move resulted in an instant dump back to $3,875. This resistance wall is proving very hard to overcome for BTC. In the past couple of hours it has managed to regain some steam to get it back over $3,900 but only just. Ethereum continues to weaken and has dropped to $135, its lowest level since Tuesday. A rally was looking promising before markets followed Bitcoin’s bounce off resistance again. ETH has maintained its lead above XRP which has also declined a further 1.5% on the day. The top ten is all red during Asian trading today aside from Stellar which has made almost 1.8% on the day taking XLM to $0.087. Litecoin has also posted a marginal gain as it reaches $57 and extends its lead over EOS which has lost over 2%. Tron is down 2.5% at the moment as its market cap continues to dwindle. Altcoins in the top twenty are equally mixed with marginal movements at the time of writing. Cardano is still in the green but only just, the rest are flat or falling. Bitcoin SV, Maker, and Ethereum Classic have taken the biggest slides with losses of over 3% a piece at the moment. FOMO: Kyber Network Cranking Today’s big pump in the top one hundred is Kyber Network which has surged 75% as volume increases tenfold. Binance is getting a third of the global trade volume but South Koreans are also buying it up in KRW on Upbit and Bithumb at the moment with a combined 50%. It appears that a coin burn, roadmap update, and KyberDAO Voting Experiment has driven the fomo for KNC; Calling all Kyber community members! As part of our early experiments to gather feedback and metrics on building a DAO, you are invited to participate in the first KyberDAO Voting Experiment using @AragonProject Find more details here: — Kyber Network (@KyberNetwork) March 8, 2019 Project PAI is also on the fomo train with a 60% pump today as the alpha version of their PAIYO app gets launched. Enjin Coin is also going strong still adding 30% to reach $0.20. At the messy end of the top one hundred altcoins are Nexo and Chainlink dropping 7% each. There are no major dumps occurring right now as most coins are still range bound. Total market cap 24 hours. Total market capitalization is still at $133 billion where it was this time yesterday. Markets are starting to recover from a $3 billion dump a few hours ago and daily volume has increased again to $34 billion. Crypto markets are only 2.3% higher than they were this time last Saturday but gains on the month are still an impressive 10%. Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals. The post Crypto Market Wrap: Quick Recovery From $3 Billion Dump, Chance For Further Gains? appeared first on NewsBTC.

a month ago

EOS and Litecoin Leading as $6 Billion Pumps Back Into Crypto Markets

Crypto markets rallying again; EOS and Litecoin on a charge, Bitcoin SV and IOTA still stuck. Market Wrap Another small rally initiated yesterday adding a further $6 billion to crypto markets and pushing total market capitalization back over $130 billion once again. An anomalous ‘flash crash’ can be seen in the charts for total market cap a few hours ago but it appears to be a glitch. Bitcoin bounced from $3,770 to $3,900 yesterday but again failed to break resistance here. BTC has since fallen back to $3,880 which marks a 3% gain on the day. Volume has picked up and is now back over $10 billion again. Only when this wall of resistance can be overcome will Bitcoin and markets climb further. Ethereum is having a solid run today as it pumped over 7% to reach $140 before pulling back slightly. The Swiss exchange ETP launch has driven momentum for ETH which has recovered all losses over the past week. Ethereum has extended its lead over XRP in third to $1.4 billion as the Ripple token only managed to gain 3% today. The two clear leaders in the top ten at the time of writing are EOS and Litecoin. EOS jumped from $3.30 to a high of $3.84 before pulling back to $3.70 marking a 12% gain over 24 hours. Volume jumped to $2.3 billion and OKEx is the leading exchange for EOS trade. Litecoin has done even better with a surge of 13% from $46.60 to smash through the $50 barrier and reach an intraday high of $54 before dropping back slightly. LTC volume is also over $2 billion at the moment as it closes the gap on EOS in fourth to $150 million. Binance Coin as usual continues its solid performance adding a further 7% on the day to reach $13.50. The top twenty is all green during the Asian trading session today. The top performer in this section is Maker pumping 9% to $680. Cardano and NEO have also done well out of this market spurt by gaining 5% each. Ontology needs a mention as it is just outside the top twenty, ONT has surged 12.5% on the day and is about to flip Zcash. Bitcoin SV and IOTA have not moved at all over the past day. FOMO: Enjin Coin Revving Up Today’s top one hundred top performer is Enjin Coin which has pumped 21% on the day taking the gaming token close to $0.10. Enjin Blockchain SDK coming to Unity Asset Store next week appears to be driving momentum; It's official: The Blockchain SDK is coming to the Unity @AssetStore on March 14! In just 9 days, 4.5 million @unity3d developers will be able to easily create & integrate ERC-1155 #Ethereum blockchain assets into games for over 25 mass market platforms.#unitydev #unity3d — Enjin (@enjin) March 5, 2019 Bitcoin Gold is also getting a pump with 20% added over the past 24 hours taking it to $12.60. Nexo and Quant are not far behind with gains of 15% each. There are no double digit dumps at the moment but the worst performing altcoins in the top one hundred include Loom Network and Electroneum dropping 5% a piece. Total market cap 24 hours. Total crypto market capitalization has surged by $6 billion to $132 billion. The 4.8% gain has recovered all losses over the past week as volumes surge to $34 billion. Until key resistance levels can be broken markets are likely to remain around this range bound channel. Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals. The post EOS and Litecoin Leading as $6 Billion Pumps Back Into Crypto Markets appeared first on NewsBTC.

a month ago

Nexo (NEXO) Listed on Huobi Global Cryptocurrency Exchange

The Huobi Global cryptocurrency exchange posted the following message on their support blog: “Nexo(NEXO) will be launched on Huobi Global on March 5, 2019 (GMT+8). Deposits will be available from 14:30, March 5, 2019 (GMT+8). NEXO/BTC and NEXO/ETH trading will be available from 15:00, March 6, 2019 (GMT+8). Withdrawals will be available from 14:30, March 7, 2019 (GMT+8).” Huobi is the largest cryptocurrency exchange listing for Nexo to date, previously only availble on some smaller exchanges such as HotBit and HitBTC. NEXO is currently trading at $0.100737. (JF)

a month ago

As the only crypto lender with instant funding and insured c...

As the only crypto lender with instant funding and insured custody, Nexo has processed over $300M. We are merely sc…

a month ago

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... You must be a subscriber to continue reading Members can login here. FREE 7-DAY TRIAL: Receive access to all Premium content. Subscribe for $10/month Subscribe for $60/year SludgeFeed

a month ago

Crypto Lending on the Rise as Nexo says it Lent $700 Million in 7 Months

Nexo, a crypto lending offering instant loans on more than 45 fiat currencies, recently revealed that it lent more than $300 million to its 170,000 users. The service permits clients to deposit their crypto assets into a secure wallet in order to access flexible credit without needing a credit check. Users can spend the funds by card or withdraw the funds to a bank account and there are no hidden fees or exchange commissions. Nexo says “the ravaging bear market” taking place in the crypto-sector has not impacted their performance and the company managed to secure a $3 million profit within the first seven months in operation. Nexo also distributed a collective dividend of $912,071 to holders of NEXO token and this is representative of 30% of the profits generated by the company. According to Nexo, the 4.80% annualized yield is higher than all of the dividend-bearing stocks in Warren Buffett’s portfolio, including Apple, JPMorgan and Goldman Sachs.

a month ago

NexoFinance (NEXO) Processed $314 Million Worth of Loans in 7 Months

NexoFinance released further details on their operations, showing that the leading crypto lender was able to process $300,000,000+ in just 7 months for and quickly expand its user base to 170,000 users. The annualized dividend yield of the NEXO Token was 4.80%, better than all the dividend stocks in Warren Buffet’s portfolio, including: Apple 1.4%, JPMorgan 3%, Wells Fargo 3.3%, Goldman Sachs 1.6%. Nexo was one of the few profitable blockchain companies during the bear market and now operates in more than 200 jurisdictions, offering loans in over 40 different fiat currencies and in 9 languages. (JF)

a month ago

As the world’s leading crypto lender, Nexo is proud to annou...

As the world’s leading crypto lender, Nexo is proud to announce that $300,000,000+ have been processed in just 7 mo…

a month ago

@AlexSoul09 We understand your concern. Please note that the...

@AlexSoul09 We understand your concern. Please note that the Nexo Oracle autonomously decides the loan-to-value of…

a month ago

Daily Berminal Brief: Green Day Across the Market as Total Market Cap Increases by $6 Billion

Green is sowing across the board in the crypto market on Saturday as the total market cap has increased by $6 billion and currently hovers near the $141 billion mark. The price of Bitcoin was able to rocket past the $4,000 level and is currently trading at $4,143, an increase of 3.69% on the 24-hour chart, while Ethereum has increased by 6.8% and currently trades at $158.80. Out of the top 100 coins, the best performing project over the past 24-hours has been Nexo (NEXO), currently up 22.77% and trading at a price of $0.09029. (JF)

a month ago

Nexo was the first crypto lender to recognize the potential ...

Nexo was the first crypto lender to recognize the potential of the @Binance Coin and to start accepting it as colla…

2 months ago

Nexo has officially joined @binance Info’s transparency init...

Nexo has officially joined @binance Info’s transparency initiative. By sharing project-related information such as…

2 months ago

App Square Goes Live on Infinito Wallet

App Square, a decentralized applications store, has gone live on the Infinito Wallet version 2.4. With App Square, Infinito wallet will now be the home for leading currencies as well as dApps. The dApp store was launched with Kyber Network, Coinfirm, Blockpass, Nexo, and Celsius. Currently, App Square supports decentralized applications built on ETH blockchain, but it will support those built on top of NEO, Ontology, and EOS in the future. (KE)

2 months ago

The Year in Review - it has been an amazing Nexo journey thu...

The Year in Review - it has been an amazing Nexo journey thus far and our tax-efficient instant crypto loans across…

2 months ago

NEXO Tokens can now be purchased from the comfort of your ba...

NEXO Tokens can now be purchased from the comfort of your bank account with Euro thanks to our partnership with…

2 months ago

Daily Berminal Brief: Crypto Markets Begin Moving Following Quiet Saturday Afternoon

Following a relatively quiet and sideways trading afternoon on Saturday, the crypto market has seen an uptick in activity in the past hour as the total market cap has seen an injection of roughly $1.5 billion. The price of Bitcoin is currently trading at $3,518, an increase of 0.83% on the 24-hour chart, while XRP is up 0.77% and trading at $0.311. Out of the top 100 projects, Nexo (NEXO) has performed the best over the past 24-hours, currently up 20% and trading at a price of $0.06569. BTC dominance currently sits at 53.2%. (JF)

2 months ago

NEXO abandoned their investors?

I'm sick of these ICOs and their promises. They raise such amounts of money that any other kind of business can only dream about it, but deliver but a fraction of their promises. Nexo promised us these things by end of 2018 - mobile app wallet - credit card - additional collateral options - minimum loan 100$ limit - airdrop campaign - resolve voting for the best coin - audited Financial statement - regular dividends (when will be next dividend ??) Nothing was delivered and what we got instead is silence or some lame excuses in the best of cases. (i did not post this in the nexo subreddit because it would be instantly censored)

2 months ago

Nexo is better than any crypto wallet or bank account: - Ins...

Nexo is better than any crypto wallet or bank account: - Instant crypto-backed credit line in 40+ fiat currencies -…

2 months ago

Nexo is proud to be among the top 50 most important companie...

Nexo is proud to be among the top 50 most important companies in Switzerland and Liechtenstein’s Crypto Valley Bloc…

2 months ago

XRP in Action Mode: Growing Numbers Fueling the Growth in Real-World Operations

Ripple is working hard on spreading its products worldwide with a strong number game as the XRP, xRapid, RippleNet, and xCurrent gradually gains more customers, real-world usage, and support from the community. XRP’s Strong Number Game Recently Ripple’s client Mercury Fx took to Twitter to share how it made one of its largest payment on RippleNet by using XRP while saving money in the process. This showed the real-world usage and effect of XRP. Ripple is already working hard and fast in pushing to make its various products part of real-world banking operations. Previously, it has been claimed in 2018 that Ripple already has 100 clients in its bag and earlier in January, this year itself, Ripple shared further insight declaring RipleNet has surpassed 200 customers all over the globe. The latest additions in this network have been Euro Exim Bank, SendFriend, JNFX, FTCS, Ahli Bank of Kuwait, Transpaygo, BFC Bahrain, ConnectPay, GMT, WorldCom Finance, Olympia Trust Company, Pontual/USEND, and Rendimento. Ripple’s clients have all the praises for its different products that allow them to settle transactions fast and in a cost-effective manner as David Lighton, the Founder of SendFriend, which was founded at MIT, said, “Through our partnership, we are bringing our customers a next-generation, blockchain payment solution that leverages XRP to address many of the efficiency and equity problems with existing remittances.” XRP fever is certainly spreading as platforms like r3, XRP Tip Bot, Arrington Capital, Omni, Nexo, Coil, XRParrot, and Travala among many others are utilizing this digital asset as a form of payment. The plan is rather simple here to provide a better cross-border payment solution in terms of speed, cost, and transparency that the current established banking system lacks. Just recently, Ripple sales director Ross D’Arcy said they want to make sending payments as easy as sending an email, “3 clicks, 30 seconds, receive a confirmation that the end beneficiary has been paid. So as easy as we can do a voice chat or exchange emails, that’s exactly how we want the payment experience to be.” D’Arcy further shared how this technology is a better solution than Swift, “Ripple could shut down as a business tomorrow, and our customers could still transact using our software. The same wouldn’t be the case with Swift.” If we talk about the number a bit more, according to the XRP community blog, XRP has about 1.5 million active wallets, more than 230 exchanges where the 2nd largest cryptocurrency has been listed and a strong community which is made up of over 1 million people. “XRP has one of the largest and most coordinated group of developers of all cryptocurrencies in Ripple Labs,” said Ben Ritchie of Digital Capital Management while predicting XRP price at $0.75 by December 31, 2019. On the front price, XRP is currently down about 90 percent from its all-time high. At the time of writing, it has been trading at $0.330 with 24-hours gains of 0.31 percent. The post XRP in Action Mode: Growing Numbers Fueling the Growth in Real-World Operations appeared first on Coingape.

3 months ago

27 Companies are Confirmed to Be Using XRP as a Form of Payment and Money Transmission

27 companies are now confirmed to be utilizing XRP, either as a way to accept payment or to power international remittances. Of those, 13 plan to adopt Ripple’s xRapid payment software which focuses on cross border transactions. Included on that list are Euro Exim Bank, Bittrex, Bitso, Bitstamp, Mercury FX, SBI Virtual Currencies, SentFriend, and Bitrue. Some of the companies that are utilizing the XRP digital asset as a form of payment include Travala, r3, Omni, Transpaygo, Arrington Capital, Coil, Nexo and XRP Tip Bot. (JF)

3 months ago

Nexo now offers unpaid federal workers who hold crypto asset...

Nexo now offers unpaid federal workers who hold crypto assets instant loans with 0% interest during the US governme…

3 months ago

Block by Block: Crypto Lending

Block by Block is a series where we dive into different industries and examine the entry-points for decentralization. This issue is an introduction to crypto-secured credit markets, exploring: market/product segmentation, lender and borrower opportunities, competition across both custodial and decentralized lending protocols, and more. The market for crypto lending may be small relative to other credit products, but the sector is still worth attention given its recent growth, pace of innovation, and ability to provide lifeblood for companies in the broader ecosystem. Crypto-secured loans require borrowers to offer cryptocurrency (typically Bitcoin) as collateral, often times significantly overcollateralized, in exchange for another asset (usually USD or stablecoin). Loans can be originated centrally with a custodian/counterparty, or originated through a decentralized non-custodial lending protocol. The core market and product offerings can be segmented as: Borrowing USD secured by crypto: Personal or Business loans originated by custodial lenders against crypto, with USD wired directly to bank accounts. Loans can be used for additional liquidity, and offer tax benefits on potential capital gains. Some of the larger players include: BlockFi, Unchained Capital, and Coventure. Margin lending on exchanges: The ability to use leverage via derivatives or direct margin from the exchange itself. Protocols like dYdX and Dharma offer decentralized open-source platforms for margin and derivative trading. Lending crypto borrowing crypto: Origination volumes are largely demanded by fund trading, as the loans can be used to go short a position or run various other trading strategies where the fund would rather not own all the crypto. Genesis Capital is the major player in this bucket, but also plays within other segments (eg. USD - Crypto). Outside of OTC desks, the funding of Bitcoin ATMs is another use case for crypto-to-crypto borrowing. Decentralized Lending Protocols (Non-custodial): Non-custodial lending protocols offer a similar collateralized loan as custodians, only in a decentralized way. The protocols leverage smart-contracts to minimize counterparty risk and reduce the cost to originate and borrow. Considering the today’s core lending protocols are native to Ethereum, non-custodial loans today are predominately against Ether rather than Bitcoin (however, this is expected to change in time). Most likely users of the protocols include traders, ICO treasuries, and borrowers looking to experiment with alternative low-cost credit. Token-based platforms: A catch-all bucket for any lending platform or protocol that may push custody to a third-party provider like Bitgo—and also comes with a token model attached to the hip. Large players here include Nexo, Celsius, and Salt. The lending opportunity impacts both lenders and borrowers Lending on crypto (both centralized and decentralized) provides a unique opportunity for both lenders and borrowers that is hard to find with current lending products in the market. For Lenders: Unique collateral characteristics that can be favorable to alternatives. Currently, the predominant secured cryptocurrency loan is against Bitcoin. Bitcoin, and other cryptocurrencies like Ether, offer unique collateral characteristics that make it quite favorable to lend against, assuming the loan is over-collateralized in order to mitigate underlying price volatility. Some of these characteristics include: 1) asset is received instantly (little to zero clearing friction), 2) efficient storage, 3) can be liquidated 24/7, and 4) is constantly marked-to-market. Contrast that to a more common secured auto loan where the collateral (the car) can face unexpected decline in value (not constantly marked-to-market, and doesn’t face upside appreciation), and can be tricky to repossess and store upon default. Entry for new lending growth. Considering the crypto lending market is still nascent, there aren’t a lot of players funding loans in the space. It’s not that big of a stretch, however, to imagine more traditional banks and credit funds starting to explore the market given that overcollateralization leads to relatively lower LTV (Loan to Value i.e., lower risk vs. other secured loans), while lower costs to underwrite/monitor the borrower and less competition lead to higher premiums. To be sure, these higher premiums and returns will compress overtime as more players enter the space, similar to how “alternative lending 1.0” products (e.g. Lending Club) have matured over time. The latter will be an interesting trend to watch, as weaker returns (and performance) on these products, combined with a new differentiated lending pond to fish in, could push investors to explore alternative credit opportunities like custodial lending of bitcoin or non-custodial lending through protocols. Lending Club loans’ Net Annualized Returns have compressed across the prior 5-year vintages Source: Lending Club, T

3 months ago

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