Nexo Price Update
At the time of this writing, Nexo has a price of $0.1051 USD, which puts it down by approximately 2.23% from yesterday. The down day for Nexo yesterday was a reversal from the day before it, which puts its price at 4.76% below its 20 day moving average. Over the past two weeks, price has been in a down trend. To help contextualize yesterday’s price move, we can observe that price has rallied 15 of the past 30 days. And in terms of volume, yesterday’s price move ocurred on volume that was 33.4% 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 $0.102342 and $0.118368, based on how price has behaved in the two weeks prior. Price’s current proximity to the bottom of the range may make buying an attractive opportunity to traders interested in trading the range.
As for Nexo’s market cap, it is currently at about $60M US dollars.
Daily Engagement Metrics Update
Over the past 24 hours, 196 transfers have been added to the blockchain recording transactions 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 33. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.05, with 63 wallets making a transfer this past day and 1,223 wallets having made a transfer in the past month.
Just How Rich are Nexo’s Richest Holders?
In terms of wealth concentration, the richest 1,000 wallets own 109.49% of the coin’s total money supply. To further clarify, our supply metric focuses only on supply that is publicly available while many large holders may have tokens they are not able to sell yet — which is why this value can exceed 100%. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 3.97% of the currency’s money supply. In terms of growth rates, the share of total supply of the richest 1,000 wallets has grown by -0.11% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by -0.09%. 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
In the past day, Nexo’s Twitter followers and Reddit subscribers went up by 47 and 4, respectively. Traders interested in following Nexo has the biggest presence on Twitter, where it has 48,797 users engaged. Here is the Twitter page for Nexo.
Article by SixJupiter
