Nexo Rises 7% as It Reenters the US Market
Coinspeaker
Nexo Rises 7% as It Reenters the US Market
Nexo NEXO $1.26 24h volatility: 13.2% Market cap: $1.26 B Vol. 24h: $21.15 M is making headlines today after rising by 7.85% in the past 24 hours, bringing its weekly gains to an impressive 17%. As of now, the token trades at $1.21, slightly below its daily high of $1.25.
Despite this rally, NEXO remains 73.86% down from its all-time high of $4.63 recorded over three years ago, CoinMarketCap data shows.
Interestingly, the recent increase marks an important turning point for the crypto lender as it all ties back to a major announcement: Nexo is officially reentering the US market.
In its latest update, Nexo revealed that both retail and institutional clients in the US will once again have access to several of its core offerings.
https://x.com/Nexo/status/1916749283795030263
These include high-yield crypto savings accounts, asset-backed credit lines, advanced trading options, and liquidity solutions tailored for institutions.
A Comeback Story After Regulatory Battles
Nexo’s price momentum gained serious traction after the company announced its return to the United States, a move that comes nearly two years after it exited the market over regulatory uncertainties.
This reentry was highlighted by an event featuring Donald Trump Jr., who praised cryptocurrency as “the future of finance” and stressed the importance of regulatory clarity for the industry to flourish.
https://x.com/Nexo/status/1916749289000182045
Trump Jr.’s endorsement of a crypto-friendly regulatory environment resonated strongly with investors, especially amid a broader market hungry for bullish narratives.
In 2022, Nexo was forced to withdraw from the US after a series of regulatory confrontations, including a $45 million settlement with the Securities and Exchange Commission (SEC) regarding its Earn Interest Product.
The California Department of Financial Protection and Innovation filed a cease and desist order against Nexo’s interest-earning program, deeming it an unqualified security.
Following these setbacks, Nexo discontinued its controversial interest-bearing services for US customers and scaled down its American operations.
NEXO Price Analysis and Targets
As per the daily chart below, the Moving Average Convergence Divergence (MACD) indicator has made a bullish crossover, with the MACD line crossing above the signal line.
The Relative Strength Index (RSI) is currently at 68.14, approaching the overbought territory (70+). While this shows strong buying pressure, it also hints that the asset could soon face some selling pressure or a cooldown.
NEXO Daily Chart | Source: TradingView
As per the Fibonacci levels, the immediate support is seen near $1.12 (aligned with previous consolidation and Fibonacci 0.236 level). Meanwhile, a strong resistance appears near the $1.24–$1.25 zone (Fib 1 level), which coincides with today’s high.
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Nexo Rises 7% as It Reenters the US Market
Coinspeaker
Nexo Rises 7% as It Reenters the US Market
Nexo NEXO $1.26 24h volatility: 13.2% Market cap: $1.26 B Vol. 24h: $21.15 M is making headlines today after rising by 7.85% in the past 24 hours, bringing its weekly gains to an impressive 17%. As of now, the token trades at $1.21, slightly below its daily high of $1.25.
Despite this rally, NEXO remains 73.86% down from its all-time high of $4.63 recorded over three years ago, CoinMarketCap data shows.
Interestingly, the recent increase marks an important turning point for the crypto lender as it all ties back to a major announcement: Nexo is officially reentering the US market.
In its latest update, Nexo revealed that both retail and institutional clients in the US will once again have access to several of its core offerings.
https://x.com/Nexo/status/1916749283795030263
These include high-yield crypto savings accounts, asset-backed credit lines, advanced trading options, and liquidity solutions tailored for institutions.
A Comeback Story After Regulatory Battles
Nexo’s price momentum gained serious traction after the company announced its return to the United States, a move that comes nearly two years after it exited the market over regulatory uncertainties.
This reentry was highlighted by an event featuring Donald Trump Jr., who praised cryptocurrency as “the future of finance” and stressed the importance of regulatory clarity for the industry to flourish.
https://x.com/Nexo/status/1916749289000182045
Trump Jr.’s endorsement of a crypto-friendly regulatory environment resonated strongly with investors, especially amid a broader market hungry for bullish narratives.
In 2022, Nexo was forced to withdraw from the US after a series of regulatory confrontations, including a $45 million settlement with the Securities and Exchange Commission (SEC) regarding its Earn Interest Product.
The California Department of Financial Protection and Innovation filed a cease and desist order against Nexo’s interest-earning program, deeming it an unqualified security.
Following these setbacks, Nexo discontinued its controversial interest-bearing services for US customers and scaled down its American operations.
NEXO Price Analysis and Targets
As per the daily chart below, the Moving Average Convergence Divergence (MACD) indicator has made a bullish crossover, with the MACD line crossing above the signal line.
The Relative Strength Index (RSI) is currently at 68.14, approaching the overbought territory (70+). While this shows strong buying pressure, it also hints that the asset could soon face some selling pressure or a cooldown.
NEXO Daily Chart | Source: TradingView
As per the Fibonacci levels, the immediate support is seen near $1.12 (aligned with previous consolidation and Fibonacci 0.236 level). Meanwhile, a strong resistance appears near the $1.24–$1.25 zone (Fib 1 level), which coincides with today’s high.
Read More