Nexo: What’s the Latest Regarding its Price?
Nexo’s current price, at the time of this writing, is $0.1093 USD, down by approximately 1.26% from the day prior. Nexo is currently in an up, and it should be noted that this is now the the 2nd straight day that price has been down. Moreover, Nexo is now 1.28% below its 20 day moving average. To help contextualize yesterday’s price move, we can observe that price has rallied 4 of the past 10 days. And in terms of volume, yesterday’s price move ocurred on volume that was 33.78% less than its 7 day average volume.
In terms of an expected trading range, the Bollinger bands on Nexo suggest price may bounce between $0.098581 and $0.122849 based on its momentum and volatility over the past 14 days. Given its boundaries, rangebound traders may find it compelling to entertain buying, as we are nearer to the bottom of the range.
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 $61 million.
Update on Transactions and Holders
Over the past 24 hours, 178 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 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 0.04, with 52 wallets making a transfer this past day and 1,422 wallets having made a transfer in the past month.
Observing Nexo’s Richest Wallets
And in regards to wealth distribution, note that the top 1,000 Nexo wallets hold over 109.56% of the token’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%. 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 4.01% 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 -0.05% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0.17%. Nexo’s smart contract owns approximately 0.02% of its own total money supply. This amount hasn’t changed over the past week.
What’s Going on Social Media?
In terms of social media presence, Nexo saw its Reddit subscribers go up by 2 over the past 24 hours. Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. You can follow Nexo on Twitter here.
Article by SixJupiter
