NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

This Factor Helped to Push Ethereum’s Nexus Mutual (NXM) Up 40% Today

Nick Chong
Nick Chong
4 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

It appears that crypto bulls are back in full force: Ethereum and Bitcoin have pressed 4-5% over the past hour and altcoins have done even better, bouncing swiftly from the weekend lows.

One coin, in particular, has stood out: Wrapped NXM (WNXM) or NXM, an Ethereum-based coin for the Nexus Mutual protocol that has gained over 40% in the past 24 hours.

According to CoinGecko, the coin has gained 44.6% in the past 24 hours, reaching its highest price in many days at $70.

Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000

Why is the Ethereum Coin Surging

The Ethereum-based coin is surging due to the launch of Yearn.finance’s Yinsure platform.

Users of Yinsure can stake WNXM within the platform and receive the SAFE governance token as a reward. Investors have reported earning around 2-5% per day on their deposits, meaning it’s a very attractive investment opportunity for those within the DeFi space.

As a result, WNXM is moving higher as investors seek to capture the yield.

The Ethereum-based SAFE alone is up around 700% since it launched just 24 hours ago.

Related Reading: This European Crypto Exchange Was Just Hacked for $5 Million

Top Investors Bullish on NXM

Even if the short-term allure of buying NXM ends due to the SAFE pool becoming overcrowded, top investors within and outside of the crypto space are optimistic about the coin and the underlying project.

Remi Tetot, the co-founder of macro research firm Global Macro Investor, recently commented that he thinks Nexus Mutual is crucial as the value of coins locked in DeFi grows, along with the number of users:

“NXM is unique in its offering but also in the way its price model works. Nexus Mutual also have the advantage of 1st mover in the insurance space in crypto….”

He added that he expects the coin to outperform Ethereum in the short term due to the project’s underlying mutual model:

“NXM price collapsed in the last crypto correction, between Sept 2nd and Sept 6th, from $75 (intraday) to nearly $30. It is now back to $45 and slowly climbing up. While many people, might have got scared by the volatility in price, the collapse was actually a great opportunity for people to purchase at a decent price. As NXM is getting more awareness, we can expect it to outperform Ethereum short term. Especially if their model is confirmed.”

Other bulls include Jason Choi of the Spartan Group.

Related Reading: It’s “Logical” for Ethereum To Reject At Current Prices: Here’s Why
Featured Image from Shutterstock
Price tags: wnxmusd, wnxmbtc, wnxmeth, nxmbtc, nxmusd, nxmeth
Charts from TradingView.com
This Factor Helped to Push Ethereum's Nexus Mutual (NXM) Up 40% Today
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum Price Pushes Higher

Ethereum Price Pushes Higher — Eyes Set on Next Major Barrier

Ethereum price started a fresh increase above the $2,520 zone. ETH is now back above $2,550 and might soon aim...

Aayush Jindal 21 hours ago
Ethereum

Ethereum Ready For Explosive Breakout: $5,791 The Minimum Target–Analyst

Ethereum’s price action is gearing up for a surge of epic proportions, according to crypto technical analyst MasterAnanda on the...

Scott Matherson 1 day ago
Ethereum Wyckoff Accumulation Hints At Explosive Q3 – $4K Level In Sight

Ethereum Wyckoff Accumulation Hints At Explosive Q3 – $4K Level In Sight

Ethereum is trading just above the $2,500 mark following days of volatility, choppy price action, and uncertainty across crypto markets....

Sebastian Villafuerte 1 day ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum Range Tightens – Liquidity Looms At $2,800 And $2,350

Ethereum Range Tightens – Liquidity Looms At $2,800 And $2,350

Sebastian Villafuerte 5 hours ago
Ethereum

Ethereum Breaks Higher With Conviction: No Signs Of A Breakdown Yet

Godspower Owie 8 hours ago
Ethereum Risks Downside If Resistance Holds: $2,700 Level Is Critical

Ethereum Risks Downside If Resistance Holds: $2,700 Level Is Critical

Sebastian Villafuerte 13 hours ago

Premium Sponsors

Press Releases

  • 3 altcoinuri de urmărit în prima săptămână a lunii iulie 2025

    3 hours ago
  • XRP versus Shiba Inu: Care criptomonedă are șanse mai mari să creeze milionari?

    XRP versus Shiba Inu: Care criptomonedă are șanse mai...

    3 hours ago
  • XRP, SOL, LTC holders turn to OPTO Miner to earn $5,777 in...

    6 hours ago
  • More and more XRP and ETH holders are turning to APT Mienr...

    6 hours ago
  • XRP versus Shiba Inu: Care criptomonedă are șanse mai mari să creeze milionari?

    ...

    8 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.