How Did Nexo’s Price Fare Yesterday?
At the time of this writing, Nexo has a price of $0.1233 USD, which puts it up by approximately 13.33% from yesterday. Nexo enters the day 9.43% below its 20 day moving average, but is experiencing its the 2nd consecutive day up. To help contextualize yesterday’s price move, we can observe that price has rallied 3 of the past 5 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 30.28% less than its 7 day average volume.
In terms of an expected trading range, the Bollinger bands on Nexo suggest price may bounce between $0.068439 and $0.203837 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 $67 million US dollars.
Update on Transactions and Holders
Yesterday saw NA transfers 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 0.05, with 90 wallets making a transfer this past day and 1,741 wallets having made a transfer in the past month.
How are the Strong Holders of Nexo Faring?
As for wealth distribution, the richest 1,000 wallets currently own 109.77% of the 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. The percent of the currency that is owned by wallets that are both belonging to exchanges and in the top 1,000 richest wallets of the token comes out to 3.75% 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 0.55%. 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
In terms of social media presence, Nexo saw its Twitter followers and Reddit subscribers go up by 5 and 8 over the past 24 hours. Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. Use this link to follow Nexo on Twitter.
Article by SixJupiter
