With the new Ethereum Staking service of Nexo, users can convert ETH for Nexo Staked ETH.
Increase in Nexo Token Price
With platform’s Ethereum Smart Staking, users can benefit from staking incentives between 4% and 12% APY paid in NETH to convert ETH to Nexo Staked ETH ($NETH). Shortly after its launch, platform’s native token saw a 5.3% price increase.
Leaving the United States
Nexo token offers many benefits to platform users at a low rate on loans and deposits. On Tuesday, the crypto lender said it has stopped accessing the Earn Interest Product in eight US territories after nearly 18 months of meeting with state and federal officials.
After these developments, the market experienced an upswing during a period when platform Earn Interest Product was not available in eight states. In a statement made by the company, it stated that the US refused to provide a way to enable blockchain businesses. Access to accounts and withdrawals do not affect use of Earn Interest Product in the Indiana, Kentucky, Maryland, Oklahoma, South Carolina, Wisconsin, California, and Washington regions.
About Nexo
The firm has been providing professional financial services to the world of digital assets since 2018. Taking advantage of the years of experience of its team in the field of Financial Technology and the power of blockchain technology, platform offers millions of people the opportunity to benefit from the value behind crypto assets, shaping a new and better financial system. The company currently manages the assets of 5M+ users in 200 jurisdictions.
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