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TürkçeNexus Mutual Information
Nexus Mutual is a decentralized insurance platform that uses blockchain technology to offer coverage against smart contract failures and other crypto-related risks. By utilizing a mutual risk-sharing model, it allows members to collectively assess and cover risks more efficiently than traditional insurance. Built on the Ethereum blockchain, Nexus Mutual empowers individuals to participate in the decision-making process and benefit from trustless, transparent coverage offerings.
Understanding Nexus Mutual: A Deeper Dive into Decentralized Insurance
Nexus Mutual, distinguished by its ticker symbol NXM, represents an innovative approach within the cryptocurrency realm, particularly in offering decentralized insurance solutions. This product is not your typical cryptocurrency aiming solely at transaction or technological improvement. Instead, it revolutionizes the way insurance and risk management are conceptualized in the digital landscape.
The Concept Behind Nexus Mutual
Nexus Mutual operates on the Ethereum blockchain and strives to replace conventional insurance with a mutual, member-owned model. Its platform provides insurance coverage for smart contracts—a critical need in an ecosystem where smart contract vulnerabilities can lead to financial losses. The unique aspect of Nexus Mutual is that it doesn’t just insure crypto wallets; it offers coverage like DeFi smart contracts against code errors, thereby providing an essential safety net for investors in decentralized projects.
Historical Performance and Market Metrics
Initially introduced to the market in 2019, Nexus Mutual caught the community's attention quickly due to its novel approach. While it reached its all-time high of $185.97 on November 10, 2021, this significant peak was followed by fluctuations, typical in the volatile crypto market, bringing it down to its current price of $59.86. Despite the downturn, this is a substantial recovery from its all-time low of $6.96 in July 2020.
The current market cap of Nexus Mutual stands at approximately $210 million, indicating a strong footing in the DeFi insurance market. With a circulating and total supply of roughly 3.51 million NXM tokens, it's interesting to note the meticulous cap on its supply, implying potential stability and value retention.
Advantages of Nexus Mutual
The primary benefit of Nexus Mutual is its pioneering role in DeFi insurance, offering a decentralized and demystified alternative to traditional insurance mechanisms. As a member-owned mutual, it aligns with the core ethos of decentralization, offering transparent and community-driven governance.
Another advantage is the niche market Nexus Mutual addresses. As DeFi grows, the demand for smart contract cover enhances the essential nature of Nexus Mutual's service, providing it with a strong growth potential.
Challenges and Risks
Nevertheless, Nexus Mutual faces several challenges. Security is a perpetual concern within the crypto sphere, and while it offers protection against smart contract bugs, Nexus Mutual itself must maintain rigorous security standards to avoid vulnerabilities.
Moreover, the token's performance is closely tied to the overall health and trust in DeFi platforms. As regulatory scrutiny increases globally, any adverse regulations impacting DeFi can also influence Nexus Mutual's scope and adoption.
Future Outlook
With a strong growth trajectory in the DeFi space, Nexus Mutual appears well-poised to capture a vital component of the insurance market. As blockchain adoption increases, specialized services like those offered by Nexus Mutual will likely become mainstream. The key to its success will lie in maintaining trust, ensuring security, and broadening its insurance offerings to encompass more sectors within the crypto industry.
In conclusion, Nexus Mutual presents a compelling case for the future of insurance within the digital economy, driven by community governance and focused on mitigating the evolving risks of a decentralized financial landscape. As the DeFi market matures, platforms like Nexus Mutual will play a crucial role in fostering security and confidence among users worldwide.
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from price
$71
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General Information |
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Title
Nexus Mutual
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Symbol
nxm
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Whitepaper
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Website
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Community
-
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Last Updated
2025-01-21 23:50
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Price Data |
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Current Price $
71.28
$
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High 24h
72.8
$
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Low 24h
69.41
$
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Price Change 24h
0.811838
$
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Price Change % 24h
1.15208
%
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Market Data |
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Market Cap
226109751
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Total Volume
-
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Market Cap Change 24h
1980042
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Market Cap Change % 24h
0.88344
%
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Return on Investment (ROI)
-
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Supply and Availability |
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Circulating Supply
3172187.4854908
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Total Supply
3172187.4854908
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Max Supply
3172187.4854908
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Historical Data |
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All Time High (ATH)
185.97
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ATH Change %
-61.7125
%
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ATH Date
2021-11-10 15:14
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All Time Low (ATL)
6.96
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ATL Change %
922.62821
%
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ATL Date
2020-07-22 19:54
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