April 6, 2020: Nexo (NEXO): Up 7%

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How Did Nexo’s Price Fare Yesterday?

At the time of this writing, Nexo has a price of $0.1177 USD, which puts it up by approximately 7% from yesterday. Yesterday’s up day is a reversal of the day before it; in terms of trend, though, note that the current price is now 10.27% above its 20 day moving average, and is currently in an up trend over the past 14 days. Another data point we may find worthy of observation is that price for Nexo has increased 6 of the previous 10 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 76.8% less than its 7 day average volume.

In terms of an expected trading range, the Bollinger bands on Nexo suggest price may bounce between $0.097923 and $0.115555 based on its momentum and volatility over the past 14 days. As we are closer to the top of that range, rangebound traders may wish to consider exploring selling opportunities.

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 $66 million.

Update on Transactions and Holders

Over the past 24 hours, 169 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 24. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.04, with 61 wallets making a transfer this past day and 1,478 wallets having made a transfer in the past month.

Observing Nexo’s Richest Wallets

As for wealth distribution, the richest 1,000 wallets currently own 109.62% of the 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 4.05% of the currency’s money supply. In terms of growth rates, the share of total supply of the richest 1,000 wallets has grown by -0.04% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0.2%. Nexo’s smart contract owns approximately 0.02% of its own total money supply. This amount hasn’t changed over the past week.

The Latest on Nexo and Social Media

In the past day, Nexo’s Reddit subscribers went up by 9, respectively. Traders interested in following Nexo has the biggest presence on Twitter, where it has 48,740 users engaged. Use this link to follow Nexo on Twitter.

Article by SixJupiter

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