Nexo Price Update
Nexo is up by approximately 1.52% from the previous day, with its price currently hovering around $0.107 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 2.03% 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 16 of the past 30 days. And in terms of volume, yesterday’s price move ocurred on volume that was 33.89% less than its 7 day average volume.
In terms of an expected trading range, the Bollinger bands on Nexo suggest price may bounce between $0.102098 and $0.116342 based on its momentum and volatility over the past 14 days. As we are closer to the bottom of that range, rangebound traders may wish to consider exploring buying opportunities.
The currency’s market cap currently stands at $60 million US dollars.
Daily Engagement Metrics Update
278 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 40. In terms of recurring usage, we can note that 1,229 wallets have sent or received coins in the past month, while 93 have in the past day.
Observing Nexo’s Richest Wallets
In terms of wealth concentration, the richest 1,000 wallets own 109.47% 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. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 4.04% 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 -0.07%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by 0.01%. 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
Social media growth, in terms of Twitter followers and Reddit subscribers, came in at up 4 and 4 over the past day for Nexo. If you are interested in following Nexo on social media, Twitter, where it has 48,854 following it, may be a good place to start. You can follow Nexo on Twitter here.
Article by SixJupiter
