The crypto markets are known to be volatile by definition. The low mainstream adoption allows tokens in this space to make incredible gains but also lose almost all of their value.
In the 2022 bear market, we saw centralized lending platforms experience critical failures. BlockFi, Celsius, and Voyager declared bankruptcy after failing to provide their users with the funds they deposited on their platforms.
Even though Nexo managed to stay afloat, it was fined $45 million by the SEC for selling unregistered securities. All in all, centralized lending platforms seem to be a thing of the past. Consequently, in this article, we explore the possibility of swapping NEXO to AVAX and whether it’s a viable option for an investor.
We take a look at their fundamentals and price predictions to give you an edge if you are a NEXO holder looking to diversify your portfolio.
Nexo is a centralized lending platform that allows users to deposit assets and borrow against them as collateral. Lenders are able to get yields from their assets, while borrowers can access quick liquidity for their crypto assets.
The main advantage of the platform is taking out loans without selling your crypto. This way, you are able to repay at your own pace, while at the same time conserving your crypto position.
In addition, Nexo offers a wide range of services, such as buying and selling crypto, crypto swaps, and a crypto card with cashback. All in all, it’s a complete platform that offers users everything they need if they hold a significant financial position in cryptocurrency.
Even though Nexo ensures client’s funds’ security, users have been very prudent when it comes to centralized lending platforms. The domino effect of the failure of lending platforms in 2022 has diminished the trust in such offerings. Consequently, the NEXO token might never reach its all-time high again.
NEXO Price Prediction
Despite the fear and doubt regarding centralized crypto lending, some price prediction websites still have a bullish view on the NEXO token.
Considering the token is currently trading at $0.66, priceprediction.net provides a forecast of $2.02 for 2025. In the long term, we should expect NEXO to reach $13.76 in 2030.
Digitalcoinprice.com provides similar targets — $2.33 for 2025 and $6.66 for 2030.
Avalanche is a layer1 blockchain platform that provides access to scalable smart contract execution. It was created as a direct competitor to Ethereum, Solana, or BNB chain, offering extremely fast transactions (up to 6,500 transactions per second) at very low costs.
To achieve this, Avalanche uses a novel consensus mechanism and a layered blockchain architecture. Instead of a single blockchain, Avalanche’s ecosystem uses a triumvirate of chains:
- The P-Chain is used for validation of ecosystem transactions.
- The X-Chain is used for asset exchanges.
- The C-Chain is used for smart contract execution.
In this regard, each chain works independently from each other, allowing for linear scalability of the ecosystem. This innovative blockchain architecture has managed to compete head-to-head with the fastest blockchains in the industry and provide decentralization, security, and scalability to users and developers.
AVAX Price Forecast
Even though Avalanche has struggled a bit in the bear market, analysts are having high hopes for the AVAX token in the future. Similar to DOGE price prediction, the asset should experience significant growth.
Priceprediction.net hopes AVAX will reach $39.84 in 2025 and $232.09 in 2030. Digitalcoinprice.com has similar forecasts with a target of $48.01 for 2025 and $138.21 for 2030.
NEXO to AVAX as the Next Exchange Option
Centralized lending platforms like Nexo have failed to deliver on their promises. Thus, you might be looking to exit your position in this type of venture. Avalanche presents itself as a future-proof solution for blockchain enthusiasts that will provide scalability to the industry.