Ethereum’s decentralized finance space has been catching a lot of attention over the past few weeks. This is for good reason: since the start of the year, the value of tokens locked in DeFi has surged in excess of 1,000%.
Certain projects, too, have come under the scope of top investors.
One macro analyst, Remi Tetot of Global Macro Investor and Real Vision, thinks that Nexus Mutual, an Ethereum-based decentralized mutual, is a project with strong potential.
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Remi Tetot of Real Vision is a Bull on Ethereum’s Nexus Mutual
Remi Tetot, the co-founder of macro research firm Global Macro Investor, believes that Nexus Mutual (NXM) is extremely valuable in the growing Ethereum DeFi market:
“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….”
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
Tetot added that with a record amount of capital entering DeFi while the number of users has surged, the need for decentralized insurance coverage has reached new heights.
He expects NXM to do so well that it will outperform 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.”
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Tetot’s Business Partner, Raoul Pal, Is a DeFi Bull As Well
Tetot’s business partner in Real VIsion and Global Macro Investor, Raoul Pal, is also a bull on Bitcoin and the broader DeFi space.
While Pal has not shared his thoughts on specific tokens, he thinks 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.
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Photo by Derick Daily on Unsplash Price tags: nxmusd, nxmbtc Charts from TradingView.com This Top Macro Analyst Is Bullish on Ethereum's Nexus Mutual (NXM)