NEXO recently announced that its stable coin infrastructure is currently undergoing maintenance to ensure the best possible customer experience. Then, they confirmed that their Platform was up and running as usual currently.
Those who were experiencing issues logging in were asked to contact the Support team through email or online chat in a way to ensure they can check on this to advise accordingly.
Meanwhile, concerns are brewing about whether Chainlink will be added to the Nexo platform. In response, it was requested by Nexo that those who would like to have Chainlink added to their Platform to vote for ChainLink. Likely, Nexo will add ChainLink as a collateral. “In addition, ten lucky customers who have voted will be chosen as the winners of 100,000 Nexo tokens each. Good luck!”
Antoni Trenchev, Co-Founder and Managing Partner at Nexo, tweeted: “Bitcoin is your Get Out of Recession Free Card. It’s the only free market, and it shows amazing resilience with no external support. $8 trillion have been pumped to the system, and the S&P 500 can’t reach it is pre-COVID 19 levels, BTC has passed those.
An opposing opinion read that a crypto with one or two real use cases will always win. However, the reality is that the BTC passed the test of time. Regardless, it is the duty of every investor to do the due diligence check.
Sydney Ifergan, the crypto expert, tweeted: “Nexo already supports a bunch of cryptos as collateral. Perhaps, ChainLink is the next in the line to add to the list of accepted collaterals.”
NEXO on Bitcoin
NEXO opines that the finite and scheduled supply of BTC, along with the decentralized architecture, facilitates the certainty required during uncertain times. It is expected that these will likely be the new safe-haven asset class in the days to come.
Antoni expressed that in the aggressive quantitative easing environment, BTC is playing the opposite role with its built-in quantitative hardening mechanism, which is set to catapult it to $50k by 2021.
He also stated that Bitcoin right now is your get-out-of recession-free card.
A healthy criticism read thus: “Honestly, a CEO of a Fintech startup who makes a business out of lending money while accepting crypto as collateral, mentions price predictions in mainstream media? C’mon!”
Overall, BTC has investment based risks being a speculative asset. It is by learning to manage the risk that HODLers will be able to be successful. It is expected that higher demand and lower price will lead to price increase.
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