{"id":344299,"date":"2022-09-04T02:05:46","date_gmt":"2022-09-04T06:05:46","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=344299"},"modified":"2022-09-04T02:06:33","modified_gmt":"2022-09-04T06:06:33","slug":"nexo-pumps-14-nexo-adds-50m-to-buyback-program","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/nexo-pumps-14-nexo-adds-50m-to-buyback-program","title":{"rendered":"Nexo Pumps 14% – NEXO Adds $50M to Buyback Program"},"content":{"rendered":"
Nexo (NEXO) coin has maintained its bullish rally and is currently trading well above the $1.10 mark. The Nexo (NEXO)<\/a> coin reached a high of $1.2133 this week, roughly 120% higher than its low in August. However, the reason for its rally could be linked to Nexo’s announcement that it will add another $50 million to its repurchase program. As a result, the company will periodically buy back NEXO tokens.<\/p>\n The goal is to reduce the number of outstanding tokens in circulation while increasing investor trust. According to CoinMarketCap data, the total market capitalization of all cryptocurrencies was $984.29 billion, a 1.32 percent increase. The world’s two largest cryptocurrencies, Bitcoin and Ethereum, and others saw slight increases. The current live Nexo price is $1.07, with a 24-hour trading volume of $23,742,066.<\/p>\n <\/p>\n Nexo Daily Price Chart – Source: Tradingview<\/strong><\/p>\n The NEXO\/USD pair has risen by 2.46% in the last 24 hours and over 14% in the seven days. Nexo is now ranked #67 in the market, with a live market cap of $596,689,634. It has a total supply of 1,000,000,000 NEXO coins and a circulating supply of 560,000,011.<\/p>\n According to a press release<\/a>, Nexo, a cryptocurrency lending company, has added $50 million to its token buyback program. As a result, Nexo’s price has risen to its highest level since June. The coin’s price rose to a high of $1.2133, roughly 120% higher than its August low. As a result, its market cap increased to nearly $620 million.<\/p>\n Today we are announcing our third $50\u041c Buyback. ? <\/p>\n Th\u0435 allocation is a result of our solid liquidity position and readiness to spur on our own products and community as the $NEXO<\/a> Token comes to play an increasingly important role within our ecosystem.https:\/\/t.co\/y7gTNMZC9q<\/a><\/p>\n — Nexo (@Nexo) August 30, 2022<\/a><\/p><\/blockquote>\n
\nMeanwhile, the cryptocurrency market’s ongoing recovery, which tends to boost investor confidence, contributed to the coin’s gains. Throughout the day, the cryptocurrency markets recovered and showed a bullish trend.<\/p>\nNexo Pumps 14%<\/h2>\n
Nexo\u00a0<\/span><\/span>Has <\/span><\/span>Allocated <\/span><\/span>$50\u00a0<\/span>Million <\/span><\/span>for\u00a0<\/span>a\u00a0<\/span><\/span>Token <\/span><\/span>Buyback <\/span>Program<\/span><\/span><\/h2>\n
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