Wrapped NXM coin increased (ticker symbol WNXM) or just NXM for 44,6 percent over the last 24 hours. NXM coin reached the highest price at $70. The coin is ETH-based designed for the Nexus Mutual protocol.
The Wrapped NMX coin is growing due to the launch of Yearn.finance’s Yinsure platform where users can invest in NXM or receive the token as a reward. During the last 24 hours, investors earned from 2 percent to 5 percent on their funds. It looks that this coin is a very attractive investment for investors in the DeFi space, currently the hottest ticket in crypto. That could be the reason why Wrapped NXM coin increased by 44 percent.
Investors in NXM seek to gain a yield which causes the coin to move higher.
Opportunity with Wrapped NXM
NXM appears like a beneficial investment right now. It easily could be a short-term investors’ interest but they are convinced the coin is a great opportunity as well as the Nexus Mutual project. Investors strongly believe in the potential of this Ethereum-based coin because it is valuable in the increasing DeFi market.
For example, Remi Tetot, the macro analyst, is convinced in Nexus Mutual’s big potential. Recently he said the coin is a unique offering in the growing DeFi. Tetot, of Global Macro Investor and Real Vision, also thinks that the Nexus Mutual is a project with strong potential in the crypto world. He expects the number of users will grow and the value of the coin can go only up along with that.
Teto’s expectations are the coin could soon easily outperform ETH. He gave a short analysis in which stated that despite the NXM price dropping in early September, the coin is slowly coming back. To remind, between September, 2 and September, 6 the NXM price dropped from $75 to almost $30. The current price (at the moment of writing this article) is $64.01 and it looks Tetot was right. Wrapped NXM coin increased over 44 percent over the last 24 hours.
The bulls are back in force
According to the current cryptocurrencies prices, the bulls are back. Bitcoin, Ethereum, Tether, Cardano, and many other popular cryptos increased from 0,5 percent to almost 9 percent like YFI or Neo, which gained over 8 percent over the same period. Almost all altcoins bounced from the lower over the last weekend, while BTC and ETH increased for 4-5 percent.
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