The Nexus Mutual project, which is Ethereum-based, has a strong potential as it is valuable in the growing DeFi market as we are reading more in today’s ETH news.
Ethereum’s decentralized finance space spurred a lot of attention over the past few weeks which is a good thing since at the start of the year, the tokens locked in Defi surged by more than 1000%. One macro analyst, Remi Tetot of Global Macro Investor and Real Vision, believes that the Nexus Mutual project is a project that has a strong potential. Remi Tetot believes that NXM is extremely valuable in the growing Defi market and commented:
“NXM is unique in its offering but also in the way its price model works. Nexus Mutual also has the advantage of 1st mover in the insurance space in crypto….”
I have been posting about NXM in the past few days, but many of you might wonder, Why NXM? Why now?
— Remi Tetot (@TetotRemi) September 11, 2020
He added that with the record amount of capital entering Defi while the number of users surged, the need for decentralized insurance coverage reached new heights. He expects to see NXM outperforming Ethereum in the short-term especially as the coin’s model is “confirmed”:
“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.”
Tetot’s business partner in Real Vision and the Global Macro investor Raoul Pal, is quite bullish on Bitcoin as well but also on the DeFi space. While Pal hasn’t shared his thoughts on specific tokens, he believes Ethereum’s biggest opportunity is decentralized finance:
“DeFi includes digital assets, protocols, smart contracts, and DApps built on a blockchain. These use cases leverage of Ethereum’s flexibility and concentration of development, focus to help create these open financial ecosystems.”
He also added during his interviews that in a world where everything is blockchain-based, Ethereum and Bitcoin will likely pay a huge role in facilitating value transfer and finance.