Nexo Price Update
Nexo’s current price, at the time of this writing, is $0.111 USD, up by approximately 4.32% from the day prior. The up day for Nexo yesterday was a reversal from the day before it, which puts its price at 3.54% above its 20 day moving average. Over the past two weeks, price has been in a unclear trend. Another data point we may find worthy of observation is that price for Nexo has increased 6 of the previous 10 days. And in terms of volume, yesterday’s price move ocurred on volume that was 20.28% 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 $0.100091 and $0.114329, based on how price has behaved in the two weeks prior. As we are closer to the top of that range, rangebound traders may wish to consider exploring selling opportunities.
As for Nexo’s market cap, it is currently at about $62M US dollars.
Daily Engagement Metrics Update
Yesterday saw 254 transfers amongst holders of Nexo. As for the number of holders, yesterday saw the number of wallets holding Nexo rise by 43. To understand loyalty or repeat usage amongst holders of Nexo, we can note that there were 114 wallets making a transaction yesterday, while 1,321 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.09.
How are the Strong Holders of Nexo Faring?
As for wealth distribution, the richest 1,000 wallets currently own 109.4% of the 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. The percent of the currency that is owned by wallets that are both belonging to exchanges and in the top 1,000 richest wallets of the token comes out to 4.34% 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 -0.08% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0.34%. 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?
In the past day, Nexo’s Twitter followers and Reddit subscribers went up by 38 and 5, respectively. If you are interested in following Nexo on social media, Twitter, where it has 48,888 following it, may be a good place to start. You can follow Nexo on Twitter here.
Article by SixJupiter
