Nexonians were informed by Nexo Finance that their custodian BitGo are currently experiencing delays in processing transactions due to extremely high fees on the BTC chain. And, also that they are currently working on resolving the issue.
NEXO tweeted: “Dear Nexonians, we remind you to watch over the digital assets you have used as collateral to your Instant Crypto Credit Line™. Due to the increased market volatility you may have to place additional collateral to your wallets. Keep an eye on those price moves & stay ahead!”
Such corrections are an inevitable aspect of market behavior. And some felt that people are going nuts over the BTC price and forget about that the price definitely will crash again. This is absolutely normal. A healthy market can’t exist with profits only.
Some users stated it is sad to think that NexoFinance needs to post this and that it is supposed to be automatic, no need to be reminded of frequently. Sadly some people are not responsible enough and blame Nexo for their fault.
One of the users stated, I once said I would start slowly selling my Bitcoin at 100k, but have decided to never sell. When the time is right I will borrow against it & pass it down to my children and grandchildren. An opportunity to create generational wealth.
It is very obvious that the attitude of people who are involved in the cryptocurrency investing space is changing drastically. Interestingly, about 1% of the global money is held in crypto and NEXO are doing all that is possible to facilitate an efficient financial system.
NEXO Buy Back Program
Nexo have also expressed that they have launched a $12 million Buyback program and repurchased 1,482,207.9472 NEXO Tokens at prices ranging between $0.43 and $0.60 apiece. The tokens will be vested for 12 months in their publicly visible Investor Protection Reserve.
The good thing is that about 30% of clients who did not previously qualify for preferential rates and bonuses are now benefiting from the new Loyalty program.
They have to state that their yields are now up to 166% higher than those of the next best provider because Nexo’s rates are always in the best interest of users.
As the interest in NEXO tokens are increasing, about 60% of the clients are opting to earn in Nexo. Reportedly, the NEXO Token experienced 440% growth, marking a new all-time high of $0.76!
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