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NEXO Price at $2.23 after 23% Gains – How to Buy NEXO

The crypto market has been performing very well over the past 24 hours. Bitcoin created a new all-time high above $67K, and most altcoins are following this rally and pushing towards new heights. NEXO is among the leading gainers during this period, having made double-digit gains that are inching it closer to its record highs.

NEXO is trading at $2.23 at the time of writing having made a 23% gain in 24 hours.

NEXO Price Analysis

NEXO Price Analysis Oct 21
Source: Tradingview

NEXO has been on a major uptrend over the past day, which has resulted in the creation of new highs. The altcoin has surpassed large cap coins in terms of gains made over the past 24 hours.

The current gains have pushed NEXO to new monthly highs. This month alone, the coin has gained by around 55%. The broader market shows signs of strong support, hence we could see this altcoin holding these gains and pushing towards higher levels.

In case of an uptrend, NEXO could test the upper resistance of $2.50. This resistance is yet to be tested during the past 24 hours, but if the uptrend holds, it will be tested soon before the next target level is set at $2.30. Major jumps towards $2.50 are also possible if buyer and market support remain strong.

On the other hand, we could also see NEXO heading towards a price dip. In this case, the altcoin will test the lower support level of $2.20 and $2.15. Dipping towards $2 while the rest of the market shows support could trigger dip-buying leading to more bullish gains.

The Nexo blockchain is a lending platform for digital assets, and it recently received a cease and desist order from the New York Attorney General’s office to shut down its lending services in the city. This was after the firm was found to be non-compliant with the crypto regulatory laws in New York.

Where to Buy NEXO

To buy NEXO during the current bulls, you can create an account on the following platforms:

  • eToro

eToro is a leading social copy trading platform that allows a new trader to copy the trading strategies used by expert traders. eToro supports a wide range of cryptocurrencies and trading pairs. It also has user-friendly features that make it easy to use the platform.

  • Huobi Global

One can buy NEXO tokens from Huobi Global. Huobi is one of the largest cryptocurrency exchange platforms and has a broad range of offerings. Huobi is also a friendly exchange that supports features that make it easy for traders to use the platform.

Looking to buy or trade Crypto now? Invest at eToro!

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Read more:

El Salvador Doubles Down And Buys The Dip As Market Crashes

Unphased by the crash, El Salvador buys more Bitcoin. Covered: Crypto Market Crash El Salvador Buys The Dip For The Fourth Time Nayib Bukele Taking Bitcoin Seriously El Salvador Buys The Dip For The Fourth Time In case you missed it last night, Bitcoin fell over 20% amid instability in the markets likely compounded by::Listen

Unphased by the crash, El Salvador buys more Bitcoin.

Covered:

  • Crypto Market Crash
  • El Salvador Buys The Dip For The Fourth Time
  • Nayib Bukele Taking Bitcoin Seriously

El Salvador Buys The Dip For The Fourth Time

In case you missed it last night, Bitcoin fell over 20% amid instability in the markets likely compounded by the growing fear around the Omicron variant. However, the recovery has been decent, with Bitcoin getting back up near $50,000 since plunging around 10pm to $41,000 last night. BTC is now settling around $48,000, showing signs of life.

As a side note, Metaverse tokens have held up well, too. Both Decentraland and Sandbox have suffered the least compared to others in the top 100–down 3% and 6% respectively in the last 24 hours at press time, showing there is still demand for the metaverse. 

But El-Salvador wasn’t buying the metaverse dip. In a show of Saylor-esque confidence, El-Salvador, specifically President Bukele, announced on Twitter that they had bought the dip early this morning. Adding another 150 Bitcoin to their growing reserve.

Subsequent to that buy, Bitcoin fell even further, and Bukele added that they “missed the bottom by 7 f***ing minutes.” Justin Sun, the head of Tron decided he would try and match the “CEO of El-Salvador” by buying 100 BTC himself at an average price of $47,627 per BTC. It appears they both missed the bottom, however as BTC stands now El-Salvador’s buy and Sun’s too are both slightly in the green.

Recommended: Take Me Down To Bitcoin City

This 150 coin purchase by the small Central American country is another digital cornerstone to the ambitious foundation of their recently announced ‘Bitcoin city.’ The plan  centers around a “bitcoin-backed bond offering of $1 billion in tokenized bonds via Blockstream’s Liquid Network sidechain.” 500 million will be used to build the city and 500 million more will be used to buy more Bitcoin.

The citadel includes a Bitcoin mine, powered by Volcanic energy from the nearby Conchagua volcano. Blockstream CSO Samson Mow expects big returns for El-Salvador from the investment after 10 years, 146% APY to be exact, which would put Bitcoin at a price of $1 million USD per coin.

Nayib Bukele Taking Bitcoin Seriously

volcanic powered Bitcoin in El-Salvador

Bukele is dubbing this city the modern version of Alexander the Great building the city of Alexandria in Egypt during his reign, saying: “”If you want bitcoin to spread over the world, we should build some Alexandrias.” Bukele has faced scrutiny for his Bitcoin zealotry from power brokers worldwide, including the IMF and World Bank.

However, he has walked the talk since the country announced they would accept Bitcoin as legal tender this summer. For example, El Salvador has built “20 ‘Bitcoin schools’ and a veterinary clinic from bitcoin proceeds.” Moreover, he has not dragged his feet on the volcanic mining, either, it wasn’t just a meme to pump BTC. The video below is a good example of what is happening.

For a country wracked by economic stagnation and financial corruption, moving this fast is a monumental achievement for the country, and for any country for that matter. As of Oct 1, El-Salvador mined its first bitcoin with volcanic energy. El-Salvador will stack sats from mining and buying with dozens of volcanos in the country.

So while people will call Bukele’s Bitcoin city a fantasy, what is happening, in reality, is the country has become industrialized, modernized, and richer thanks to Bitcoin. When nation-states are buying the dip, panic should be the last words that come to mind.

Recommended: CRU Staff Reveals The Identity Of Satoshi Nakamoto

 

The post El Salvador Doubles Down And Buys The Dip As Market Crashes appeared first on CryptosRus.

NEXO Price at $2.23 after 23% Gains – How to Buy NEXO

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