Nexo: What’s the Latest Regarding its Price?
At the time of this writing, Nexo has a price of $0.108 USD, which puts it down by approximately 3.23% 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 down trend, and is currently 3.36% 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 15 of the past 30 days. And in terms of volume, yesterday’s price move ocurred on volume that was 57.87% 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 $0.098798 and $0.124722, 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 currency’s market cap currently stands at $61 million US dollars.
Update on Transactions and Holders
Over the past 24 hours, 281 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 47. To understand loyalty or repeat usage amongst holders of Nexo, we can note that there were 79 wallets making a transaction yesterday, while 1,222 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 109.55% of the token’s total 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. 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 4.03% of the currency’s total 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 0.01%. The underlying smart contract itself for Nexo owns 0.02% of the total money supply; over the past week, this amount has not changed.
Nexo’s Social Media Presence
In the past day, Nexo’s Twitter followers and Reddit subscribers went up by 12 and 10, respectively. Traders interested in following Nexo has the biggest presence on Twitter, where it has 48,774 users engaged. You can follow Nexo on Twitter here.
Article by SixJupiter
