April 1, 2020: Nexo (NEXO): Down 1.19%

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Nexo: What’s the Latest Regarding its Price?

Nexo is down by approximately 1.19% from the previous day, with its price currently hovering around $0.1079 USD. Yesterday’s down day is a reversal of the day before it; in terms of trend, though, note that the current price is now 6.51% above its 20 day moving average, and is currently in a unclear trend over the past 14 days. From another vantage point, note that price has gone up 2 of the past 5 days. Another data point we may find worthy of observation is that price for Nexo has increased 2 of the previous 5 days.

In terms of an expected trading range, the Bollinger bands on Nexo suggest price may bounce between $0.093784 and $0.108834 based on its momentum and volatility over the past 14 days. Given its boundaries, rangebound traders may find it compelling to entertain selling, as we are nearer to the top of the range.

The currency’s market cap currently stands at $60 million US dollars.

Straight Off the Chain

Over the past 24 hours, 114 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 jump by 38. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.03, with 52 wallets making a transfer this past day and 1,576 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 109.64% of the token’s total 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. 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 3.82% of the currency’s money supply. The week over week growth rate in the share of the total supply of the top 1,000 wallets has changed by -0.07%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by -0.18%. Nexo’s smart contract owns approximately 0.02% of its own total money supply. This amount hasn’t changed over the past week.

The Latest on Nexo and Social Media

In the past day, Nexo’s Twitter followers and Reddit subscribers went up by 13 and 14, respectively. 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

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