Nexo tokens reverse course after brief rally on Binance listing

Nexo (NEXO-USD) tokens spiked as much as 60% early Friday after the cryptocurrency got listed on Binance, the world's largest crypto exchange. Note that Nexo is a blockchain-based lending protocol that offers crypto-backed loans to users. At the time of writing, Nexo (NEXO-USD +2.6%) coins have erased most of Friday morning's short-lived rally, changing hands at $2.26 per token. The move followed Nexo's (NEXO-USD) recent partnership with Mastercard (MA) involving the launch of a crypto card in Europe. “This partnership puts Nexo a step closer to becoming a crypto bank to help retail clients access the digital space,” Pablo Jódarfinancial, products manager at Storm Partners, told CoinDesk. Nexo is the 67th largest crypto with a market cap of $1.27B, according to data from CoinMarketCap. Earlier, ApeCoin tokens surged ahead of Otherside launch.