How Did Nexo’s Price Fare Yesterday?
At the time of this writing, Nexo has a price of $0.1102 USD, which puts it up by approximately 1.47% from yesterday. This marked the the 2nd day in a row Nexo has been up; it is still in a downtrend, and is currently 14.49% below its 20 day moving average; staying above this level may be critical to sustain short-term momentum. To help contextualize yesterday’s price move, we can observe that price has rallied 3 of the past 5 days. Another data point we may find worthy of observation is that price for Nexo has increased 3 of the previous 5 days.
Traders looking for a range to trade within may wish to note that the Bollinger bands (a price indicator based on recent momentum and volatility) for Nexo imply the currency may oscillate between $0.077682 and $0.180076, based on how price has behaved in the two weeks prior. As we are closer to the bottom of that range, rangebound traders may wish to consider exploring buying 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 $61 million.
Straight Off the Chain
NA 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 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 59 wallets making a transfer this past day and 1,683 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 109.74% 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. 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 3.84% of the currency’s total money supply. In terms of growth rates, the share of total supply of the richest 1,000 wallets has grown by -0.09% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by -0.01%. Nexo’s smart contract owns approximately 0.02% of its own total money supply. This amount hasn’t changed over the past week.
Nexo’s Social Media Presence
In terms of social media presence, Nexo saw its Reddit subscribers go up by 1 over the past 24 hours. If you are interested in following Nexo on social media, Twitter, where it has 48,791 following it, may be a good place to start. Here is the Twitter page for Nexo.
Article by SixJupiter
