Nexo Price Update
At the time of this writing, Nexo has a price of $0.1044 USD, which puts it down by approximately 6.12% from yesterday. The past 24 hours mark a reversal in price from the day prior; it should be noted, though, that price is still in a unclear trend, and is currently 5.87% below its 20 day moving average. Staying above this level may be critical to sustain short-term momentum. From another vantage point, note that price has gone up 5 of the past 10 days. And in terms of volume, yesterday’s price move ocurred on volume that was 5.61% 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 $0.100447 and $0.121363, based on how price has behaved in the two weeks prior. Price’s current proximity to the bottom of the range may make buying an attractive opportunity to traders interested in trading 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 $58 million.
Update on Transactions and Holders
Over the past 24 hours, 214 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 rise by 39. To understand loyalty or repeat usage amongst holders of Nexo, we can note that there were 54 wallets making a transaction yesterday, while 1,271 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.04.
Observing Nexo’s Richest Wallets
And in regards to wealth distribution, note that the top 1,000 Nexo wallets hold over 109.54% of the token’s total 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. 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. Exchange ownership grew by -0.03% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.08% over that time period. 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. If you are interested in following Nexo on social media, Twitter, where it has 48,734 following it, may be a good place to start. You can follow Nexo on Twitter here.
Article by SixJupiter
