Share this article
Nexo Token Enjoys Short-Lived Rally Upon Binance Listing
The price surged nearly 60% after the listing went live earlier Friday.
Updated May 11, 2023, 3:57 p.m. Published Apr 29, 2022, 4:17 p.m.
NEXO, the token of the Nexo crypto lending protocol that offers credit cards and loans to retail users, surged over the last 24 hours after one of the world’s largest exchanges, Binance, listed the token.
The token peaked at $3.64, just 13% off its all-time high in February. The token increased by nearly 60% in the space of a few hours after Binance's listing went live earlier Friday. Nexo has since retreated to trade at around $2.33, but is still up 6% over the last 24 hours. The token's market capitalization is $1.3 billion.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Pablo Jódar, financial products manager at Storm Partners, a systems provider for the cryptocurrency space in Europe, said Nexo got a positive tailwind from the recent partnership announcement with Mastercard (MA). The credit card company unveiled a crypto-backed payments card that allows users to spend without having to sell their digital assets, and offers customers 2% cash back on their transactions.
“This partnership puts Nexo a step closer to becoming a crypto bank to help retail clients access the digital space,” Jódar said.
“This was also a positive week for the crypto-lending space, as Goldman Sachs [GS] announced [it] executed the first fiat loan” backed by bitcoin , Jódar said. "It shows a very strong interest from Wall Street banks to adopt crypto assets as a new type of alternative assets.”
Crypto assets with a market capitalization above $1 billion were mostly trading lower Friday. Ether was trading down 1.2%, bitcoin by 1% and Cardano's ADA by 1%.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
These Three Metrics Show Bitcoin Found Strong Support Near $80,000
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the $80,000 price level.
What to know:
- Bitcoin rebounded from the $80,000 region after a sharp correction from its October all time high, with price holding above the average entry levels of key metrics.
- The convergence of the True Market Mean, U.S. ETF cost basis, and the 2024 yearly cost basis around the low $80,000 range highlights this zone as a major area of structural support.
Top Stories
