Nexo retail credit withdrawal amount reached $136.63 million in early 2025, then dropped to $54.4 million in March, indicating forced deleveraging. After rebounding to $95.8 million in June, withdrawal amounts began to steadily decline, stabilizing around $24 million by the end of 2025, suggesting that credit demand may have bottomed out. Meanwhile, the lending volume of Ethereum on the Aave platform peaked at nearly 1.2 million ETH in mid-2025, then fell to about 300,000 ETH in early 2026 as leverage was reset. At the same time, amid ongoing bearish sentiment, the NEXO token continued its downward trend, breaking key support levels with a target price of $0.73.