Nexo Price Update
At the time of this writing, Nexo has a price of $0.1174 USD, which puts it down by approximately 22.56% from yesterday. Yesterday’s down day is a reversal of the day before it; in terms of trend, though, note that the current price is now 29.95% 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 4 of the past 10 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 52.17% less than its 7 day average volume.
In terms of an expected trading range, the Bollinger bands on Nexo suggest price may bounce between $0.127341 and $0.207839 based on its momentum and volatility over the past 14 days. Given its boundaries, rangebound traders may find it compelling to entertain buying, as we are nearer to the bottom of the range.
As for Nexo’s market cap, it is currently at about $66M US dollars.
Straight Off the Chain
Over the past 24 hours, NA 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 NA by approximately NA. 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 81 wallets making a transfer this past day and 2,046 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 109.8% of the coin’s total money supply. Ownership exceeding 100% is due to the fact that our supply metric is focused just on available supply, and some large owners of Nexo have ownership they cannot sell at this time — but may be able to in the future. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 3.51% 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 -0.05% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0.11%. 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 Reddit subscribers, came in at up 8 over the past day for Nexo. If you are interested in following Nexo on social media, Twitter, where it has 48,784 following it, may be a good place to start. You can follow Nexo on Twitter here.
Article by SixJupiter
