Why Near Coin Is Falling Every Day (Why Nest Coin Keeps Falling)

Why is Near Coin falling every day? It’s because there isn’t enough selling pressure and short sellers in the market.

Today, the market is in chaos and the price of Near Coin has started to decline:

1. The price has dropped from around $0.002 to $0.019.

2. Bitcoin’s price has been hovering around $0 since July 15, 2019.

3. BTC/USDT is currently priced at $0.045 (-0.07%), with a 5% increase in the highest peak in the past 24 hours, reaching a high point in nearly a year.

4. The price continues to decline and has been oscillating at a low level in recent days. Many people bought in, but now they are not holding firmly anymore.

Therefore, many users currently believe that the bear market has arrived, and this is the issue we need to be cautious about. We shouldn’t panic when it comes to investing, but we need to take measures for risk control. (Login to the APP—Discover for more exclusive reviews of other cryptocurrencies)

Why Nest Coin Keeps Falling

Why does Nest Coin keep falling? The reason is simple, the price of nEST is too expensive. When you buy a token without value, it will provide you with more value, but in this case, it won’t bring you a higher price.

We all know that NEST is a decentralized cryptocurrency created and issued on the Ethereum network. However, if someone wants to invest in a product that has practical use and no risk, then they need to consider whether it has potential market prospects.

Therefore, there are many misconceptions about Nest among people. Firstly, it is a new type of cryptocurrency developed by a company or individual. Secondly, its mechanism is very complex and unstable, just like stocks. Lastly, they use different algorithms to manage their assets (such as ETH), making these cryptocurrencies impossible to manipulate. Since blockchain technology can change the way transactions and trust models are made in the existing financial system, this concept is easily understandable.

In fact, Nest is also an ERC20 token based on smart contracts. Through the Nest protocol, users can purchase tokens in the project on the Ethereum chain, and they can also directly convert these tokens into other cryptocurrencies. This is similar to traditional markets. However, at present, this model is still operating effectively and has achieved some success. For example, after the launch of nst, the price of Nest tokens rose from the initial $1 to the current highest point of around $3, an increase of more than 400%. Currently, the market value has exceeded $40 billion and quickly reached the threshold of over $2 million, even reaching a historical high of 230 million Chinese yuan.

So why is Nest continuously falling? It’s because it’s different from most altcoins, and its design concept is completely different from Bitcoin’s design thinking.

In fact, according to Vitalik Buterin, one of the founders of Nest, before the end of the bull market in 2017, “Nest” was not suitable as a use case for mainstream currency. However, Nest does not simply emphasize “practicality,” but rather chooses an alternative solution that is easier to generate profits: “This is a good money-making opportunity for those who want to profit during bear markets.”

However, Nest is not the first to encounter this situation. In May of this year, Nest announced that it had completed a financing of 25 million yuan in pre-sale. At that time, they stated that they planned to sell $5 million worth of new tokens called “NexGen.” Although this funding was used for the sale of governance tokens “NEX-BNB/BTC” for NexGen, the total supply of the project increased tenfold within minutes. “I believe that as more and more institutions adopt NEST, it will continue to grow and surpass competitors like BitMec.” In addition, NEST also promises to bring new investment tools to more investors. (I am Suixin, a journalist from Odaily Planet Daily)