How Did Nexo’s Price Fare Yesterday?
At the time of this writing, Nexo has a price of $0.1061 USD, which puts it up by approximately 0.76% from yesterday. Nexo is currently in a down, but it should be noted that this is now the the 2nd straight day that price has been up. Moreover, Nexo is now 4.01% below its 20 day moving average. Another data point we may find worthy of observation is that price for Nexo has increased 15 of the previous 30 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 35.71% less than its 7 day average volume.
As for Nexo’s expected trading range — as forecasted by the Bollinger bands indicator, which determines a range based on momentum and volatility over the past two weeks — is between $0.099971 and $0.121089. As we are closer to the bottom of that range, rangebound traders may wish to consider exploring buying opportunities.
The currency’s market cap currently stands at $59 million US dollars.
Straight Off the Chain
Yesterday saw 193 transfers amongst holders of Nexo. In terms of estimating the number of holders, over the past day the total number of wallets holding Nexo has gone up by approximately 34. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.06, with 77 wallets making a transfer this past day and 1,228 wallets having made a transfer in the past month.
Observing Nexo’s Richest Wallets
As for wealth distribution, the richest 1,000 wallets currently own 109.5% of the money supply. Ownership exceeding 100% is due to the fact that our supply metric is focused just on available supply, and some large owners of Nexo have ownership they cannot sell at this time — but may be able to in the future. 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 3.96% of the currency’s total money supply. The week over week growth rate in the share of the total supply of the top 1,000 wallets has changed by -0.11%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by -0.09%. As for the Nexo’s smart contract itself, that owns 0.02% of the total money supply, an amount unchanged from the week prior.
Nexo’s Social Media Presence
Social media growth, in terms of Reddit subscribers, came in at up 6 over the past day for Nexo. Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. Use this link to follow Nexo on Twitter.
Article by SixJupiter
