Nexo Spends Another $50 Million On Buyback Program
Cryptocurrency lending platform Nexo continues demonstrating solid financial strength amid the market downturn by enhancing the project’s token capabilities.
The company has scaled up in value by committing an additional $50 million in its buyback program, giving the company more ability to buy back the platform’s native token, NEXO, to enhance the interest payment for customers saving savings and strategic investment in the future.
This buyback program started in November 2021 with an initial value of $100 million.
Buyback is a general term for the field of economics in general. In the crypto world, the company (or project) will offer to buy back a portion of the token of the project itself being developed by the company to reduce the number of tokens circulating in the market or eliminate token takeover by whales, thereby creating an incentive for the token to increase in price more sustainably in the long term.
Nexo cites its latest move as an affirmation of its solid liquidity position and willingness to invest in the community despite the recent liquidity crisis of the crypto market.
Recently, the company sought advice from banking giant Citigroup on how best to acquire struggling crypto companies, such as Celsius and Vauld.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
Author
News
Nexo Spends Another $50 Million On Buyback Program
Cryptocurrency lending platform Nexo continues demonstrating solid financial strength amid the market downturn by enhancing the project’s token capabilities.
The company has scaled up in value by committing an additional $50 million in its buyback program, giving the company more ability to buy back the platform’s native token, NEXO, to enhance the interest payment for customers saving savings and strategic investment in the future.
This buyback program started in November 2021 with an initial value of $100 million.
Buyback is a general term for the field of economics in general. In the crypto world, the company (or project) will offer to buy back a portion of the token of the project itself being developed by the company to reduce the number of tokens circulating in the market or eliminate token takeover by whales, thereby creating an incentive for the token to increase in price more sustainably in the long term.
Nexo cites its latest move as an affirmation of its solid liquidity position and willingness to invest in the community despite the recent liquidity crisis of the crypto market.
Recently, the company sought advice from banking giant Citigroup on how best to acquire struggling crypto companies, such as Celsius and Vauld.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
Other Posts
Related Posts
Latest
Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!
Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!
Press Release
The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!
Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance
