Nexo Price Update
Nexo is down by approximately 0.5% from the previous day, with its price currently hovering around $0.1197 USD. Yesterday’s down day is a reversal of the day before it; in terms of trend, though, note that the current price is now 8.88% above its 20 day moving average, and is currently in an up trend over the past 14 days. From another vantage point, note that price has gone up 2 of the past 5 days. And in terms of volume, yesterday’s price move ocurred on volume that was 88.41% less than its 7 day average volume.
As for Nexo’s expected trading range — as forecasted by the Bollinger bands indicator, which determines a range based on momentum and volatility over the past two weeks — is between $0.096709 and $0.123157. As we are closer to the top of that range, rangebound traders may wish to consider exploring shorting 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 $67 million.
Daily Engagement Metrics Update
188 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 37. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.05, with 67 wallets making a transfer this past day and 1,452 wallets having made a transfer in the past month.
How are the Strong Holders of Nexo Faring?
In terms of wealth concentration, the richest 1,000 wallets own 109.58% 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. 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 4.01% of the currency’s total money supply. Exchange ownership grew by 0.17% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.05% over that time period. Nexo’s smart contract owns approximately 0.02% of its own total money supply. This amount hasn’t changed over the past week.
What’s Going on Social Media?
In the past day, Nexo’s Reddit subscribers went up by 5, respectively. Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. You can follow Nexo on Twitter here.
Article by SixJupiter
