Nexo Price Update
At the time of this writing, Nexo has a price of $0.1106 USD, which puts it down by approximately 2.98% from yesterday. The down day for Nexo yesterday was a reversal from the day before it, which puts its price at 4.95% above its 20 day moving average. Over the past two weeks, price has been in an up trend. Another data point we may find worthy of observation is that price for Nexo has increased 7 of the previous 14 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 72.97% less than its 7 day average volume.
In terms of an expected trading range, the Bollinger bands on Nexo suggest price may bounce between $0.09817 and $0.112588 based on its momentum and volatility over the past 14 days. Given its boundaries, rangebound traders may find it compelling to entertain shorting, as we are nearer to the top of the range.
The market capitalization of Nexo, or the amount of US dollars it would take to buy up all the circulating coins, is currently estimated to be $62 million.
Update on Transactions and Holders
161 transactions amongst holders of Nexo occurred yesterday. Regarding a tally of holders, Yesterday saw Nexo’s wallet count drop by 6. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.04, with 57 wallets making a transfer this past day and 1,495 wallets having made a transfer in the past month.
How are the Strong Holders of Nexo Faring?
And in regards to wealth distribution, note that the top 1,000 Nexo wallets hold over 109.63% of the token’s total money supply. Incidentally, this value exceeds 100% because many owners are not yet able to sell (due to contractual provisions), and our supply metric only observes liquid supply. 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 4.04% 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 -0.04% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0.12%. As for the Nexo’s smart contract itself, that owns 0.02% of the total money supply, an amount unchanged from the week prior.
What’s Going on Social Media?
Social media growth, in terms of Twitter followers and Reddit subscribers, came in at up 5 and 1 over the past day for Nexo. Traders interested in following Nexo has the biggest presence on Twitter, where it has 48,740 users engaged. Use this link to follow Nexo on Twitter.
Article by SixJupiter
