NEXO risks 50% drop due to regulatory pressure and investor concerns

Crypto lending firm Nexo is at risk of losing half of the valuation of its native token by the end of 2022 as doubts about its potential insolvency grow in the market.

For the unversed: Eight U.S. states filed a cease-and-desist order against Nexo on Sep. 26, alleging that the firm offers unregistered securities to investors without alerting them about the risks of the financial products.

Comparisons with Celsius

The top 100 NEXO holders collectively own 95.53% token supply. Source: Etherscan 3-day price chart featuring ascending triangle breakdown setup. Source: TradingView

Continue Reading on Coin Telegraph

Source link