How Did Nexo’s Price Fare Yesterday?
At the time of this writing, Nexo has a price of $0.1111 USD, which puts it down by approximately 0.27% 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 unclear trend, and is currently 8.85% above 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 6 of the past 14 days. Another data point we may find worthy of observation is that price for Nexo has increased 6 of the previous 14 days.
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 $0.093645 and $0.110492, based on how price has behaved in the two weeks prior. Given its boundaries, rangebound traders may find it compelling to entertain shorting, as we are nearer to the top of the range.
As for Nexo’s market cap, it is currently at about $62M US dollars.
Straight Off the Chain
190 transactions amongst holders of Nexo occurred yesterday. Regarding a tally of holders, Yesterday saw Nexo’s wallet count increase by 39. To understand loyalty or repeat usage amongst holders of Nexo, we can note that there were 67 wallets making a transaction yesterday, while 1,558 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.
Observing Nexo’s Richest Wallets
In terms of wealth concentration, the richest 1,000 wallets own 109.63% 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. The percent of the currency that is owned by wallets that are both belonging to exchanges and in the top 1,000 richest wallets of the token comes out to 3.84% 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 -0.08%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by -0.1%. 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
In terms of social media presence, Nexo saw its Reddit subscribers go up by 10 over the past 24 hours. If you are interested in following Nexo on social media, Twitter, where it has 48,727 following it, may be a good place to start. Here is the Twitter page for Nexo.
Article by SixJupiter
