Nexo Price Update
Nexo is down by approximately 1.18% from the previous day, with its price currently hovering around $0.1003 USD. Nexo is currently in a down, and it should be noted that this is now the the 2nd straight day that price has been down. Moreover, Nexo is now 24.12% below its 20 day moving average. Another data point we may find worthy of observation is that price for Nexo has increased 13 of the previous 30 days. And in terms of volume, yesterday’s price move ocurred on volume that was 65.08% less than its 7 day average volume.
Traders looking for a range to trade within may wish to note that the Bollinger bands (a price indicator based on recent momentum and volatility) for Nexo imply the currency may oscillate between $0.074994 and $0.189384, based on how price has behaved in the two weeks prior. Given its boundaries, rangebound traders may find it compelling to entertain buying, as we are nearer to the bottom of the range.
As for Nexo’s market cap, it is currently at about $57M US dollars.
Straight Off the Chain
Over the past 24 hours, NA transfers have been added to the blockchain recording transactions amongst holders of Nexo. As for the number of holders, yesterday saw the number of wallets holding Nexo NA by NA. To understand loyalty or repeat usage amongst holders of Nexo, we can note that there were 103 wallets making a transaction yesterday, while 1,711 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.06.
Just How Rich are Nexo’s Richest Holders?
As for wealth distribution, the richest 1,000 wallets currently own 109.75% of the money supply. This number is greater than 100% because many of the token holders are not able to sell them yet, and thus their numbers are not included in the supply yet, though they can be regarded as future sellers when they are able to sell. If we focus on exchanges, which may be an correlated with liquidity and greater confidence in the currency, the exchange wallets that are in the top 1,000 wallets own 3.84% of the currency’s total money supply. In terms of growth rates, the share of total supply of the richest 1,000 wallets has grown by 0% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0.5%. The underlying smart contract itself for Nexo owns 0.02% of the total money supply; over the past week, this amount has not changed.
The Latest on Nexo and Social Media
Social media growth, in terms of Reddit subscribers, came in at up 1 over the past day for Nexo. Traders interested in following Nexo has the biggest presence on Twitter, where it has 48,804 users engaged. You can follow Nexo on Twitter here.
Article by SixJupiter
