Disclosure: Delphi Ventures and members of our team hold NXM positions. This is statement is intende
This is a sample of a research note we sent to clients yesterday. For the next 24 hours, anyone who uses code “ETHATH” will get 50% off their first month of any subscription or 20% off an annual plan! Lock in your Delphi Membership here!
As ETH ripped higher in recent weeks, NXM followed suit. Over the past 30 days the price of ETH increased +88% while NXM and wNXM rose +90% and +84%, respectively. The reason for this lock-step appreciation across assets is due to Nexus’ capital pool, which is almost entirely comprised of ETH. As the value of ETH held in, and controlled by, the protocol increased so did the token which has claim on it.
This was expected. In
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