What is the impact on the price of NEST coins (why NEST coins cannot rise)

08/03/2023 11:24 • Blockchain Buzz • 93 views

What is the impact on the price of NEST coins? According to Coinmarketcap data, what is the main impact on the current price of NEST coins? Nestcoin is a token issued by a decentralized exchange project. Through this platform, decentralized offline order book transactions and automatic Market maker mechanism (AMM) can be realized According to data from CoinMarketCap, the price of NEST coins has risen by over 400% since July 2017. With the development of market conditions, more and more investors are paying attention to the potential of NEST project and conducting speculation in the market. NEST, also known as decentralized finance, is a new type of digital asset based on smart contract technology. The emergence of NEST enables seamless integration of DeFi applications, DEX, and others into blockchain networks

Why can’t the nest coin rise

NEST is a decentralized protocol that uses a Oracle machine machine to provide transaction services on peer-to-peer networks. Users can make payments using ETH, BTC, and EOS, and receive a corresponding proportion of revenue based on the price. However, due to the inherent risks in its algorithm, it leads to significant price fluctuations and is susceptible to external environmental influences. For example, when Ethereum’s smart contract runs, there will be some problems, such as whether the wallet needs to be redeployed or restarted when an application fails; How to solve these problems when a new application is discovered, and so on

But Nest Coin did not provide any solution, because no one was willing to transfer tokens to another chain, but sold them to others in various ways. This situation also puzzled many people, even some people were worried about losing the value of their portfolio, so they chose to sell Bitcoin instead of other assets, and then transferred to other platforms to buy more Cryptocurrency, Finally, it was converted into counterfeit currency (such as XRP)

At present, most Cryptocurrency can no longer meet people’s needs. Although there are many Cryptocurrency on the market, such as BTC and LTC, their prices are still far below the level in December 2017 If we take a look at the hot market news of the past few days:

1. After breaking through $30000, Bitcoin experienced a sharp decline, dropping from around $3000 to over $4000, a drop of 20%, marking the largest daily decline this year 2. Many investors have stated that they are buying the spot on the Bitcoin Futures Exchange FTX, rather than the nest coin itself. The nest currency is a Stablecoin issued based on blockchain technology, and its main purpose is to serve as an alternative form of digital gold. The biggest difference in this type of project is that there is no endogenous collateral, which means that if you hold nEST, you must guarantee your rights. The essence of Nest is to supplement market value, so its design philosophy is the same: as long as there is a good underlying public chain supporting the development of an ecosystem, then this basic public chain can definitely coexist with the traditional financial system, paving the way for future development. (Image from cryptonews)

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What is the impact on the price of NEST coins (why NEST coins cannot rise)

Why can’t the nest coin rise

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