Nexo Price Drops 40% in Three Days on Fears of DeFi Contagion and Insolvency Crypto Fund Rising

Author: Yuvi June 16, 2022

Nexo Price Drops by 40% In Three Days


The price of Nexo (NEXO) continued to fall on June 15 as cryptocurrency lending companies continued to shake off the crypto winter season. Nexo’s risk of bankruptcy was estimated to be related to Dubai-based crypto fund Three Arrows Capital (3AC). However, the company has denied the rumors of the company getting in touch and having 100% liquidity to meet its debt obligations.

NEXO, a security token on the cryptocurrency lending platform of the same name, fell nearly 25% to $0.61 per unit, its lowest price valuation since January 2021. Experience the fall…

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Author: Yuvi

My name is Yuvi, I work as Sub Editor at newscinema.in

16 June, 2022, 4:50 am

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Thursday, 16th June 2022

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