How Did Nexo’s Price Fare Yesterday?
At the time of this writing, Nexo has a price of $0.1142 USD, which puts it down by approximately 5.07% from yesterday. The down day for Nexo yesterday was a reversal from the day before it, which puts its price at 3.59% above its 20 day moving average. Over the past two weeks, price has been in an up trend. From another vantage point, note that price has gone up 7 of the past 14 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 60.09% 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 $0.097504 and $0.122982, 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 shorting opportunities.
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 $64 million.
Update on Transactions and Holders
Yesterday saw 163 transfers amongst holders of Nexo. Regarding a tally of holders, Yesterday saw Nexo’s wallet count increase by 26. In terms of recurring usage, we can note that 1,432 wallets have sent or received coins in the past month, while 59 have in the past day.
Just How Rich are Nexo’s Richest Holders?
In terms of wealth concentration, the richest 1,000 wallets own 109.57% of the coin’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. 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 3.98% 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 -0.05%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by 0.15%. 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
Social media growth, in terms of Reddit subscribers, came in at up 7 over the past day for Nexo. Traders interested in following Nexo has the biggest presence on Twitter, where it has 48,738 users engaged. You can follow Nexo on Twitter here.
Article by SixJupiter
