How Did Nexo’s Price Fare Yesterday?
Nexo is down by approximately 1.11% from the previous day, with its price currently hovering around $0.1068 USD. 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 3.63% below its 20 day moving average. Staying above this level may be critical to sustain short-term momentum. To help contextualize yesterday’s price move, we can observe that price has rallied 5 of the past 10 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 60.41% 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 $0.099232 and $0.122418. 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 $60M US dollars.
Straight Off the Chain
Over the past 24 hours, 221 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 40. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.05, with 69 wallets making a transfer this past day and 1,292 wallets having made a transfer in the past month.
Just How Rich are Nexo’s Richest Holders?
In terms of wealth concentration, the richest 1,000 wallets own 109.61% 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 4.05% of the currency’s total money supply. In terms of growth rates, the share of total supply of the richest 1,000 wallets has grown by 0.02% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0.07%. As for the Nexo’s smart contract itself, that owns 0.02% of the total money supply, an amount unchanged from the week prior.
Nexo’s Social Media Presence
In the past day, Nexo’s Twitter followers and Reddit subscribers went up by 10 and 6, respectively. Traders interested in following Nexo has the biggest presence on Twitter, where it has 48,744 users engaged. You can follow Nexo on Twitter here.
Article by SixJupiter
