How Did Nexo’s Price Fare Yesterday?
Nexo’s current price, at the time of this writing, is $0.1099 USD, down by approximately 1.08% from the day prior. The down day for Nexo yesterday was a reversal from the day before it, which puts its price at 0.91% below its 20 day moving average. Over the past two weeks, price has been in a unclear trend. From another vantage point, note that price has gone up 8 of the past 14 days. Another data point we may find worthy of observation is that price for Nexo has increased 8 of the previous 14 days.
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 $0.100922 and $0.120898, based on how price has behaved in the two weeks prior. As we are closer to the bottom of that range, rangebound traders may wish to consider exploring buying opportunities.
The currency’s market cap currently stands at $61 million US dollars.
Straight Off the Chain
Yesterday saw 137 transfers 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 25. In terms of recurring usage, we can note that 1,357 wallets have sent or received coins in the past month, while 63 have in the past day.
How are the Strong Holders of Nexo Faring?
And in regards to wealth distribution, note that the top 1,000 Nexo wallets hold over 109.55% 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. 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 4.02% 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 -0.08%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by -0.02%. 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 terms of social media presence, Nexo saw its Twitter followers and Reddit subscribers go up by 7 and 9 over the past 24 hours. Traders interested in following Nexo has the biggest presence on Twitter, where it has 48,741 users engaged. Use this link to follow Nexo on Twitter.
Article by SixJupiter
