NEXO Token Price Skyrockets 17% On Binance Listing

NEXO price has skyrocketed 17% in the last 24 hours, with the current price trading at $2.49. After the largest crypto exchange Binance announced the listing of NEXO, the native token of the Nexo crypto lending platform, the price has jumped nearly 15% in an hour on Friday.

The trading will commence for NEXO/BTC, NEXO/BUSD, and NEXO/USDT trading pairs on Binance at 10:00 am UTC on Friday, April 29.

NEXO Price Shoots Higher on Binance Listing

In an official announcement on its website, Binance said it will list Nexo (NEXO) and MobileCoin (MOB) on April 29. Users can start depositing NEXO and MOB tokens to start trading at 10 am UTC. The available trading pairs for NEXO are NEXO/BTC, NEXO/BUSD, and NEXO/USDT trading pairs. Whereas, for MOB the trading pairs are MOB/BTC, MOB/BUSD, and MOB/USDT.

Moreover, Binance stated that users will be able to withdraw NEXO and MOB tokens on April 30 at 10 AM UTC. However, users need to check the status on the withdrawal page. The listing fee for  NEXO and MOB is 0 BNB.

Nexo is a lending protocol for digital assets offering services such as lending, borrowing, trading, credit cards, etc. The platform also offers interest payments, collateral for loans, and dividends from Nexo’s profits.

Whereas, MobileCoin is a privacy token built on the Stellar blockchain offering decentralized and private instant P2P transactions.

NEXO Gathers Attention As It Expands

Nexo has been gathering attention from the crypto community as it continues to be in news. Recently, Nexo launched a crypto-backed payment card in partnership with global payments firm Mastercard. Users will be able to use the card at all merchants currently accepting Mastercard payments.

At the start of April, the company also launched Nexo Prime, a proprietary prime brokerage platform, to meet the growing demand for digital assets by institutional, corporate, and HNWIs.

Amid the mixed reaction on the crypto market, NEXO is one of the top tokens on the market today. However, traders must wait for NEXO price to come a bit lower before making an entry.