Nexo: What’s the Latest Regarding its Price?
Nexo’s current price, at the time of this writing, is $0.1098 USD, up by approximately 8.5% from the day prior. The up day for Nexo yesterday was a reversal from the day before it, which puts its price at 0.9% below its 20 day moving average. Over the past two weeks, price has been in a unclear trend. To help contextualize yesterday’s price move, we can observe that price has rallied 15 of the past 30 days. Another data point we may find worthy of observation is that price for Nexo has increased 15 of the previous 30 days.
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 $0.09792 and $0.12367. Given its boundaries, rangebound traders may find it compelling to entertain buying, as we are nearer to the bottom of the range.
The currency’s market cap currently stands at $62 million US dollars.
Update on Transactions and Holders
185 transactions amongst holders of Nexo occurred yesterday. In terms of estimating the number of holders, over the past day the total number of wallets holding Nexo has gone up by approximately 33. To understand loyalty or repeat usage amongst holders of Nexo, we can note that there were 54 wallets making a transaction yesterday, while 1,236 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.
How are the Strong Holders of Nexo Faring?
As for wealth distribution, the richest 1,000 wallets currently own 109.6% of the 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%. 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 4.06% of the currency’s total money supply. Exchange ownership grew by 0.05% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by 0.02% over that time period. The underlying smart contract itself for Nexo owns 0.02% of the total money supply; over the past week, this amount has not changed.
What’s Going on Social Media?
In terms of social media presence, Nexo saw its Twitter followers and Reddit subscribers go up by 10 and 2 over the past 24 hours. Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. Use this link to follow Nexo on Twitter.
Article by SixJupiter
