Nexo Price Update
Nexo is up by approximately 3.37% from the previous day, with its price currently hovering around $0.1564 USD. Yesterday’s up day is a reversal of the day before it; in terms of trend, though, note that the current price is now 8.88% below its 20 day moving average, and is currently in a unclear trend over the past 14 days. To help contextualize yesterday’s price move, we can observe that price has rallied 7 of the past 14 days. And in terms of volume, yesterday’s price move ocurred on volume that was 73.1% 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 $0.140793 and $0.202487. Price’s current proximity to the bottom of the range may make buying an attractive opportunity to traders interested in trading the range.
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 $87 million.
Straight Off the Chain
NA transactions amongst holders of Nexo occurred yesterday. As for the number of holders, yesterday saw the number of wallets holding Nexo NA by NA. To understand loyalty or repeat usage amongst holders of Nexo, we can note that there were 109 wallets making a transaction yesterday, while 2,155 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.05.
Just How Rich are Nexo’s Richest Holders?
And in regards to wealth distribution, note that the top 1,000 Nexo wallets hold over 109.81% of the token’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 3.49% of the currency’s money supply. Exchange ownership grew by 0.11% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.1% 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.
The Latest on Nexo and Social Media
Social media growth, in terms of Twitter followers and Reddit subscribers, came in at up 1 and 6 over the past day for Nexo. Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. Here is the Twitter page for Nexo.
Article by SixJupiter
