Market Stats and Forecasts
NEXO Description
NEXO is a reputed utility token issued by Nexo ecosystem, a digital asset platform that provides a range of financial services such as credit cards, lending, borrowing and exchange. It serves as the key player in the Nexo ecosystem by providing token holders many benefits and utilities. In this post, you will get detailed information about NEXO, but let's first understand how this token works. NEXO token operates on Ethereum blockchain, and it is an ECR-20 token. The value of this token is a result of the success of the platform and the utility it offers to users.
One of the main benefits of holding NEXO tokens is you can earn higher interest rates on deposits of cryptocurrency. Every NEXO token holder can earn up to double interest than those without tokens. NEXO token can be used to increase a user’s loan-to-value (LTV) ratio when they borrow against their crypt assets which allows users to borrow more without any hesitation. The best part of this ecosystem is that token holders can receive discounts on platform fees along with exchange fees, withdrawal fees and credit card fees. When it comes to governance, NEXO is not fully decentralized yet, but the development of this platform is happening through different governance proposals.
As the NEXO token is fundamentally linked to the Nexo platform, this offers a user-friendly interface to manage digital assets to token holders along with other features such as instant crypto loans, cryptocurrency exchange and NEXO card, which allow users to spend their crypto anywhere Visa is accepted. When it comes to trading, NEXO tokens can be traded on leading centralized and decentralized exchanges like Binance, Bitsamp, Huobi, Uniswap, Bitget, and many more. Overall, NEXO is a future-proof token which can create positive impact on the crypto industry. So invest in this token to make your crypto portfolio profitable.
Forecast Based on AI Model
Drawing insights from our analysis that integrates historical price movements of NEXO, Our analysis, guided by the machine learning experts, yields forecasts for NEXO price trajectory up to 2024. With a comprehensive understanding of NEXO historical price movements and utilizing advanced algorithms, our team has derived predictions with a mean absolute error (MAE) value of 4 and an error value of 0.48%.
For the year 2024, our analysis indicates a projected yearly low of $1.23, with the high anticipated to reach $1.82. These forecasts are the outcome of a comprehensive approach designed to provide investors with reliable insights for strategic decision-making.
Prediction Table based on AI Model
| Date | Low | Average | High | ROI |
| 2024-09-15 | 1.5 | 1.55 | 1.61 | 9.09 |
| 2024-09-16 | 1.53 | 1.6 | 1.66 | 11.49 |
| 2024-09-17 | 1.53 | 1.58 | 1.62 | 10.27 |
| 2024-09-18 | 1.58 | 1.6 | 1.63 | 12.69 |
| 2024-09-19 | 1.56 | 1.58 | 1.61 | 11.45 |
| 2024-09-20 | 1.51 | 1.54 | 1.59 | 10.23 |
| 2024-09-21 | 1.55 | 1.6 | 1.64 | 11.44 |
| 2024-09-22 | 1.56 | 1.61 | 1.66 | 13.89 |
| 2024-09-23 | 1.58 | 1.63 | 1.68 | 13.89 |
| 2024-09-24 | 1.56 | 1.61 | 1.66 | 13.89 |
| 2024-09-25 | 1.56 | 1.61 | 1.66 | 12.64 |
| 2024-09-26 | 1.56 | 1.61 | 1.68 | 13.88 |
| 2024-09-27 | 1.61 | 1.66 | 1.71 | 15.13 |
| 2024-09-28 | 1.6 | 1.63 | 1.66 | 15.13 |
| 2024-09-29 | 1.6 | 1.65 | 1.71 | 15.13 |
| 2024-09-30 | 1.58 | 1.65 | 1.71 | 15.13 |
| 2024-10-01 | 1.63 | 1.65 | 1.68 | 16.40 |
| 2024-10-02 | 1.63 | 1.68 | 1.75 | 17.68 |
| 2024-10-03 | 1.65 | 1.67 | 1.7 | 17.68 |
| 2024-10-04 | 1.6 | 1.65 | 1.71 | 16.38 |
| 2024-10-05 | 1.61 | 1.64 | 1.68 | 16.38 |
| 2024-10-06 | 1.63 | 1.68 | 1.73 | 18.94 |
| 2024-10-07 | 1.67 | 1.72 | 1.79 | 21.56 |
| 2024-10-08 | 1.72 | 1.77 | 1.83 | 24.24 |
| 2024-10-09 | 1.76 | 1.8 | 1.85 | 26.97 |
| 2024-10-10 | 1.8 | 1.86 | 1.91 | 28.37 |
| 2024-10-11 | 1.76 | 1.8 | 1.85 | 28.37 |
| 2024-10-12 | 1.82 | 1.88 | 1.93 | 31.19 |
NEXO Price Prediction 2025
According to our analysis conducted via our Machine Learning Model,NEXO is forecasted to achieve its peak value in 2025 at approximately $2.85, while potentially dipping to a low of $1.42. The average trading value during this period is projected to hover around $2.56.NEXO Price Prediction 2026
In 2026, NEXO is anticipated to potentially reach its peak value of $3.94, with a possible lower value of $2.25. The average trading value for this period is estimated to be approximately $3.54.NEXO Price Prediction 2027
As we look ahead to 2027, the trajectory of the NEXO coin may offer investors unexpected turns. Projections suggest peaks hitting $6.42 and lows stabilizing around $3.01, with an average trading value resting near $5.74.NEXO Price Prediction 2028
In the upcoming year of 2028, investors may witness noteworthy fluctuations in the value of the NEXO coin. Projections point towards a maximum value of $9.4, a minimum of $4.76, and an average value of approximately $8.49.NEXO Price Prediction 2029
Our market analysis indicates optimistic prospects for the NEXO crypto in 2029, with projected peaks at $13.58 and floors at $7.61. Moreover, the average trading value of this coin is anticipated to hover around $12.2.NEXO Price Prediction 2030
In 2030, our crypto analyst team and Machine Learning experts envision a varied outlook for the NEXO token. Projections indicate highs near $22.27, potential lows around $10.69, with an average value of about $20.21.Following the presentation of our forecast table, we provide users with convenient procedure links, offering insight into the comprehensive steps taken to derive our predictions. These resources afford transparency into our analytical process, detailing methodologies, data sources, and algorithms used to formulate forecasts, empowering users to grasp the intricacies behind our predictions.
Forecast Based on Technical Analysis
Bitcoin's 50-Day, 200-Day Simple Moving Averages and 14-Day Relative Strength Index - RSI (14)
Both the 200-day and 50-day Simple Moving Averages (SMA) are forecasted to rise, with the former expected to reach $1 by the Sep 15, 2024. The Relative Strength Index (RSI) stands at 0.8200, indicating a Fall market stance. Overall, while the long-term forecast is Sell.
About nexo
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Kshitez Pratap Singh
Kshitez Pratap Singh possesses deep expertise in data analytics and machine learning. He excels at deriving actionable insights from complex datasets. Kshitez combines his analytical skills and machine learning knowledge to develop models that support data-driven decision-making, helping businesses and investors navigate and thrive in the finance niche.
Mohit Kumar
Mohit Kumar is a computer science engineer with a specialization in Artificial Intelligence and Machine Learning (AIML). he has honed his expertise in developing sophisticated machine-learning models tailored for the financial sector, exploring various aspects of forecasting and statistical modeling to provide invaluable insights for informed investment decisions in the volatile world of cryptocurrencies.
Sentiment: Sell
The NEXO is predicted to surge by 13.29% to $1.58 by Sep 17, 2024, though current indicators show a Bearish sentiment with 15 out of 30(50%) green days and a notable -8.37% price volatility over the past month.
