The Binance Coin community welcomes the news of the new partnership between Nexo and Binance allowing crypto holders to use their BNB tokens as collateral for instant crypto-backed loans from the 1st July.

Binance’s executives will benefit from a 50% discount on their first loans and will be provided with the opportunity to choose their collateral between NEXO or Binance coin.

A couple of key factors made the partnership possible. The early signs for it appeared during the Nexo token sale when a poll indicated that Binance exchange was one of the top investor choices. Furthermore, there is a significant overlap between Binance’s and Nexo’s customer bases and needs. Another significant factor is the BNB stability on the coin market.

Considering these factors, the partnership appeared a natural move for both sides.

The feature of the BNB coin on Nexo will increase its popularity. Combined with the news of the partnership would lead to a price increase of the token and break the current market trends.  

Alongside with BNB, other altcoins have started negotiations with Nexo in their bid to stand shoulder to shoulder with BNB. Nexo is a desired partner for many, as it is an attractive platform for users. Nexo’s advantage comes in providing the financial freedom that customers need while providing a clear and transparent process and loan details.

Alongside with Binance’s positive market trend, Ethereum Classic has been the other altcoin that contrary to all other currencies marks a move in the green area. Market analysts believe that this is a result of the new trading pairs released on Binance Exchange - BNB/ETC, alongside with pairs featuring ICX, SC and IOTX.

The ICX, SX and IOTX have managed to gain a slight value advantage against the dollar. ETH on the other side is marking a price drop and Binance Coin is making a bold statement with its 6% rise today, reaching $16.57, looking positive to go above the $17 mark.

Binance Coin is also showing its advantage over the NEXO coin, which some experts consider as the dominance of the Binance Exchange platform.

 

 

Binance Nexo

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