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Synthetix (SNX) And Nexo (NEXO) Shows Weakness Compared To Strong Utility Coin The Hideaways

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Today, the DeFi blockchain network, Synthetic (SNX), and centralized finance platform Nexo (NEXO) trade on their support zones, with the latter getting involved in a new legal case.

DeFi and CeFi are among the most saturated sectors in cryptocurrency, with thousands of projects launching on these paths yearly. 

Recently, investors are beginning to seek new opportunities on more promising networks that are not overexploited, with the likes of the luxury real estate project The Hideaways (HDWY).

Synthetix (SNX) Falls from its First Support, Looking to Fall on Another

Synthetix (SNX) sellers are reigning over the token. The price recorded a 3.49% decline to $2.32 earlier in the session, a critical support zone, before taking it further to its current settlement at $2.27. 

The token’s daily chart consolidates a descending triangle pattern which signals an extended bearish performance ahead. In total, Synthetix (SNX) fell 22% in the last 30 days, which sent its investors to flip towards The Hideaways (HDWY), which hiked 100% over the same timeframe.

The following support is found at $2.11. If buyer support comes at this level, recovery to $2.51 can happen.

Nexo (NEXO) Enters a Legal Battle Against Eight U.S. States

Nexo (NEXO) is another token in the finance sector that declined during the day. The token shed 2% to $0.88 after eight U.S. states filed a legal case against the platform. 

The claim says Nexo (NEXO) is intentionally putting its investors at risk by failing to disclose the information that some of the securities offered on the platform are “unregistered.”

Moreover, Kentucky state pointed out that Nexo’s current liabilities outweigh its assets, making it a risky investment. Due to the recent news, Nexo (NEXO) ‘s trading volume immediately declined 7.87% to $7.5 million.

The Hideaways Could Increase 20,000% By End of 2023 Due To Tiny Market Cap

The Hideaways (HDWY) is a more secure investment compared to both Synthetix (SNX) and Nexo (NEXO) due to several reasons.

First, the tokenized real estate will be fractionalized into amazing NFTs, these will be on sale for as little as $100 and give you 20% passive income. How does it do that? 

They get massive rental income from short-term holiday lets. When they’re not being rented out to rich and famous families, they will be hosting events such as weddings and corporate getaways. The team knows this industry well and looks set to make investors wealthy. 

Yields from The Hideaways’ (HDWY) luxury real estate acquisitions will be redistributed to investors every month, giving you the chance to earn a steady passive income. 

The Hideaways (HDWY) is audited by the industry standard Solidproof.io. It is preparing to launch on top decentralized exchanges Uniswap (UNI) in January 2023. Buying it in presale now is the best decision you can make in 2022. 

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PR DESK
PR DESK
PR Desk is a guest author on TheCryptoBasic and only delivers sponsored content. Hence, views and opinions published under PR Desk are exclusively theirs and should not be taken as investment advice. If you want to publish your PR, please contact hashim@thecryptobasic.com or support@thecryptobasic.com

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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