[A Billion Dollar Market Cap]
Reaching a market capitalization of $1 billion in January, NEXO is the native ERC-20 utility token of the Nexo platform, offering instant crypto-backed loans, trading, and a crypto card.
[NEXO Whale Activity Increasing in January]
According to CryptoQuant’s on-chain data, whales have been actively trading the NEXO token in January: As NEXO’s spot price declined beneath $1, whales have started an accumulation pattern, expecting a good entry point.
NEXO traded between $0.90 and $1.00 in mid-January, with an uptrend structure intact, accompanied by short-term pullbacks (below EMA20). This whale-driven volume supports resilience.
[Collateral Accumulation]
Broader platform metrics show rising collateral accumulation, with collateral accumulation index at $1.52 million in mid-January, as pointed out by the CryptoQuant analyst Arab Chain.
The index suggests that whales and institutions are depositing or using assets as collateral for loans rather than selling outright. This reduces spot selling pressure and signals confidence in the long-term outlook of NEXO.
[About NEXO token]
The NEXO token is the native cryptocurrency of Nexo, a leading digital assets platform for earning interest, borrowing against crypto, and trading.
NEXO’s token supply is at 1 billion units, with no additional minting possible. This creates a capped and deflationary structure, supported by periodic buyback programs that reduce available supply over time. The reduced supply of NEXO represents digital scarcity, essential for future spot price appreciation.
Written by oinonen_t
