Nexo Price Update
Nexo is up by approximately 0.27% from the previous day, with its price currently hovering around $0.1096 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 down trend, and is currently 1.8% 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. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 68.76% 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 $0.098719 and $0.124491, 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 $62 million.
Daily Engagement Metrics Update
153 transactions amongst holders of Nexo occurred yesterday. Regarding a tally of holders, Yesterday saw Nexo’s wallet count rise by 35. To understand loyalty or repeat usage amongst holders of Nexo, we can note that there were 77 wallets making a transaction yesterday, while 1,230 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.
How are the Strong Holders of Nexo Faring?
As for wealth distribution, the richest 1,000 wallets currently own 109.57% of the money supply. Ownership exceeding 100% is due to the fact that our supply metric is focused just on available supply, and some large owners of Nexo have ownership they cannot sell at this time — but may be able to in the future. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 4.04% of the currency’s 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 0.01% over that time period. As for the Nexo’s smart contract itself, that owns 0.02% of the total money supply, an amount unchanged from the week prior.
The Latest on Nexo and Social Media
Traders interested in following Nexo has the biggest presence on Twitter, where it has 48,762 users engaged. You can follow Nexo on Twitter here.
Article by SixJupiter
