Nexo Price Update
Nexo is up by approximately 3.8% from the previous day, with its price currently hovering around $0.1065 USD. The up day for Nexo yesterday was a reversal from the day before it, which puts its price at 3.93% below its 20 day moving average. Over the past two weeks, price has been in a unclear trend. Another data point we may find worthy of observation is that price for Nexo has increased 3 of the previous 5 days. And in terms of volume, yesterday’s price move ocurred on volume that was 31.46% less than its 7 day average volume.
As for Nexo’s expected trading range — as forecasted by the Bollinger bands indicator, which determines a range based on momentum and volatility over the past two weeks — is between $0.099507 and $0.122213. Given its boundaries, rangebound traders may find it compelling to entertain buying, as we are nearer to the bottom of the range.
As for Nexo’s market cap, it is currently at about $59M US dollars.
Daily Engagement Metrics Update
Over the past 24 hours, 301 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 drop by 7. To understand loyalty or repeat usage amongst holders of Nexo, we can note that there were 79 wallets making a transaction yesterday, while 1,299 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.06.
Just How Rich are Nexo’s Richest Holders?
And in regards to wealth distribution, note that the top 1,000 Nexo wallets hold over 109.62% 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. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 4.06% 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 0.01%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by 0.08%. Nexo’s smart contract owns approximately 0.02% of its own total money supply. This amount hasn’t changed over the past week.
Nexo’s Social Media Presence
Traders interested in following Nexo has the biggest presence on Twitter, where it has 48,734 users engaged. You can follow Nexo on Twitter here.
Article by SixJupiter
